WASHINGTON, D.C. – On Wednesday, March 25, the U.S. Congress Joint Economic Committee will hold a hearing, led by Committee Chairman David Schweikert (R-AZ) and Ranking Member Maggie Hassan (D-NH), focused on the threat posed by overseas scam compounds, coordination among federal agencies to fight scams, and the economic impacts of scams on Americans.  

“Criminal syndicates backed by foreign governments are preying on American seniors, often conning them out of their life savings, while also targeting our economy by stealing intellectual property, and undermining national security,” said Chairman Schweikert. “From AI-driven scams targeting vulnerable Americans to organized fraud operations in Southeast Asia, the money stolen from our citizens is fueling criminal networks and propping up foreign organizations. Our current tools simply aren’t keeping pace. We must modernize our approach, strengthen enforcement, and protect all Americans from these evolving threats.”

“Scams have ruined people’s lives, zeroed out retirement savings, and brought enormous pain to hard-working families – and the threat of scams only continues to grow,” said Ranking Member Hassan. “As AI continues to enable more sophisticated, believable scams – and as criminals around the world run scam compounds that dramatically increase the volume of scams – the Administration, Congress, and the private sector must work together to strengthen efforts to crack down on criminals, prevent scams, and support victims. I look forward to both sides of the aisle coming together for this important hearing”

The first panel will feature current officials at the Department of Justice, Federal Bureau of Investigation, U.S. Attorney’s Office for the District of Columbia, Federal Trade Commission, and the U.S.-China Economic and Security Review Commission. It is the first hearing on scams during this session of Congress to include current Administration officials. The second panel will feature leading scams experts from the Government Accountability Office, the Aspen Institute, AARP, and the private sector.

The hearing will build on Chairman Schweikert and Ranking Member Hassan’s efforts to combat scams. Previously, they issued requests to federal agencies about their efforts to crack down on overseas scam networks and issued a scam alert to Americans ahead of the holidays.

WHAT: Joint Economic Committee Hearing: The Rising Global Scam Economy: Modernizing Federal Approaches to Protect Americans from Foreign Fraudsters

WITNESSES:

Panel 1:

Mr. Richard Goldberg, Associate Counsel, Fraud Section, Criminal Division, U.S. Department of Justice

Mr. Gregory Heeb, Deputy Assistant Director, Federal Bureau of Investigation

Ms. Karen Siefert, Director, Scam Center Strike Force, U.S. Attorney’s Office for the District of Columbia

Ms. Lois C. Greisman, Associate Director, Division of Marketing Practices, Federal Trade Commission

Ms. Reva Price, Commissioner, U.S.-China Economic and Security Review Commission

Panel 2:

The Honorable Stewart Baker, Principal, Stewart Baker Consulting PLLC, former Assistant Secretary of DHS for Policy

Mr. Seto J. Bagdoyan, Director, Forensic Audits & Investigative Service, U.S. Government Accountability Office

Ms. Kate Griffin, Director of Inclusive Financial System, Aspen Institute Financial Security Program, Aspen Institute

Ms. Kathy Stokes, Director, Fraud Prevention Programs, AARP

WHEN: Wednesday, March 25 at 1:30 PM ET

WHERE: SD-G50 Dirksen Senate Office Building

LIVESTREAM: The hearing will stream live on YouTube at https://youtube.com/live/dpHfUHJ6VzI and X livestream https://x.com/i/broadcasts/1nxeLybVRqvJX.

 

 

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