According to a report by The Associated Press on October 27, a survey conducted by the Joint Economic Committee of the U.S. Congress on the global fraud industry found that the U.S. government is not doing enough to address the surge in online fraud. Cooperation with the private sector remains fragmented and voluntary.
According to a report released that day, the U.S. government does not even have a unified account to show how much money has been recovered from overseas fraud schemes, nor how much of this money has been returned to the victims. The report was released by senior Democrats such as Senator Maggie Hassan and Representative Don Bair.
This report cites results of a year-long global fraud investigation by the Associated Press and FRONTLINE, calling for strengthened interagency cooperation, increased support for victims, and deeper involvement of private sector entities.
"Transnational criminal organizations are running large industrial parks, using US technology including artificial intelligence to defraud American citizens, and causing devastating consequences," said Hasan in an email. "The scale of this challenge is growing exponentially and requires Congress, government, and the private sector to increase their efforts."
The Associated Press obtained this report before its release. The report clearly states that despite several U.S. government agencies announcing an accelerated pace of arrests, it is still very difficult for fraud victims to recover their money.
The Federal Bureau of Investigation (FBI) stated that it returned $336 million to fraud victims in 2025.
The U.S. Federal Trade Commission reported that it returned $1.83 billion to fraud victims in the 2025 fiscal year, but it is not possible to determine how much of this money was taken by overseas fraud operations.
The Secret Service of the United States revealed that it returned over $770 million in seized assets to fraud victims in fiscal years 2024 and 2025. However, it pointed out that these funds came from a series of fraudulent schemes.
The U.S. State Department also stated that foreign law enforcement agencies supported by that department have seized "several hundred million dollars" in criminal proceeds. However, it noted that details require inquiries from Congress to the Department of Justice, Department of Homeland Security, and Department of Treasury.
Overall, these amounts represent only a small portion of the losses suffered by victims. Last year, Americans reported internet fraud losses amounting to nearly $18 billion—that’s more than $2 million per hour. Many people simply do not report such incidents to the authorities at all.
The report also expresses concern that despite the expansion of scam networks to more countries, the U.S. State Department has at least cancelled a anti-scam program in Bangladesh, which was previously responsible for training local law enforcement agencies in investigating online fraud. According to a report released by the United Nations Office on Drugs and Crime last month, Bangladesh is becoming an emerging hub for global scams.
The report urges Congress to pass legislation that will establish a unified federal anti-fraud strategy and provide victims with a central channel to report losses and seek assistance. The White House also advocates for strengthened federal coordination.
Several officials from the Department of Justice told Congress that private companies should pay more attention to fraud prevention. However, U.S. regulators and legislators have yet to create clear incentives for them. The United States has not established any legal responsibilities for technology, telecommunications, or financial services companies that fail to take sufficient measures to protect consumers from fraud.
Aspen Institute's Director of Financial Security Programs, Kate Griffin, said that significant progress has been made, but the United States still lacks 'durable and sustainable fraud prevention measures'.
