Stop SCAMS Act

This bill requires the Director of the FBI, the Bureau of Consumer Financial Protection, and the Federal Trade Commission to lead a governmentwide effort to counter scams. Sec. 2, Countering scams and related activities: The FBI Director, in coordination with the Consumer Financial Protection Bureau, the FTC, and other agencies, must within one year develop and implement a government-wide strategy to counter scams, adopt a single definition of scam and scam types, and explore ways to harmonize data collection on scams. Within two years, they must develop and report a single governmentwide estimate of the number of consumers affected by scams each year (including an estimate of unreported incidents) and the dollar losses from such scams. Each agency, the FBI, the Consumer Financial Protection Bureau, and the FTC, must within one year report an estimate of the number of scam complaints they receive each year and the associated dollar losses, and establish metrics and a plan to measure the effectiveness of their anti-scam training offered through in-person events and webinars. These agencies must make the estimate of complaints publicly available in any annual report on scams.