119-s2670

[Congressional Bills 119th Congress]
[From the U.S. Government Publishing Office]
[S. 2670 Introduced in Senate

    (IS) ]

<DOC>

119th CONGRESS
 1st Session
 S. 2670

 To require the Secretary of the Treasury to designate certain covered 
organizations as Foreign Financial Threat Organizations, and for other 
 purposes.

_______________________________________________________________________

 IN THE SENATE OF THE UNITED STATES

 August 1, 2025

 Mr. Scott of Florida introduced the following bill; which was read 
 twice and referred to the Committee on Banking, Housing, and Urban 
 Affairs

_______________________________________________________________________

 A BILL

 To require the Secretary of the Treasury to designate certain covered 
organizations as Foreign Financial Threat Organizations, and for other 
 purposes.

 Be it enacted by the Senate and House of Representatives of the 
United States of America in Congress assembled,

SECTION 1. SHORT TITLE.

 This Act may be cited as the ``Strengthening Targeting of Organized 
Predatory Scammers Act'' or the ``STOP Scammers Act''.

SEC. 2. DESIGNATION OF FOREIGN FINANCIAL THREAT ORGANIZATIONS.

    (a) Designation.--The Secretary of the Treasury shall designate 
covered organizations as ``Foreign Financial Threat Organizations''. 
The Secretary shall make the first of such designations not later than 
90 days after the date of the enactment of this Act.

    (b) Procedure.--

    (1) Notice.--Before making a designation under this 
 section, the Secretary shall notify, in writing, the Speaker 
 and the Minority Leader of the House of Representatives, the 
 President pro tempore, the Majority Leader, and the Minority 
 Leader of the Senate, and the members of the relevant 
 committees of Congress of the intent to designate an 
 organization under this section as a Foreign Financial Threat 
 Organization and the factual basis for such designation.

    (2) Publication in federal register.--The Secretary shall 
 publish a designation made under this section in the Federal 
 Register not later than 7 days after providing the notification 
 under paragraph

    (1) .

    (3) Freezing of assets.--Upon notification under paragraph

    (1) , the Secretary may require United States financial 
 institutions possessing or controlling any assets of a Foreign 
 Financial Threat Organization to block all financial 
 transactions involving those asset until further direction from 
 the Secretary of the Treasury, an Act of Congress, or an order 
 of a court.

    (4) Effect of designation.--A Foreign Financial Threat 
 Organization shall be subject to the same penalties and 
 procedures as an organization that has been designated as a 
 specially designated global terrorist organization by the 
 Secretary of State or the Secretary of the Treasury, as the 
 case may be, pursuant to Executive Order 13224 (50 U.S.C. 1701 
 note; relating to blocking property and prohibiting 
 transactions with persons who commit, threaten to commit, or 
 support terrorism).
            (c) Enforcement.--The Federal Government may take such actions as 
necessary against a Foreign Financial Threat Organization to protect 
the cybersecurity of the United States and limit the ability of the 
Foreign Financial Threat Organization to access internet or cellular 
services.
            (d) Prohibition on Contact.--The Secretary of the Treasury shall 
take such actions as may be necessary to prevent a Foreign Financial 
Threat Organization from contacting United States citizens or aliens 
who are lawful permanent residents of the United States by phone, 
internet, or email.

    (e) Report.--

    (1) In general.--Not later than 2 years after the date of 
 the enactment of this Act, and annually thereafter, the 
 Secretary of the Treasury shall submit to the appropriate 
 congressional committees a report on the implementation of this 
 Act.

    (2) Contents.--A report required by paragraph

    (1) shall 
 include, for the period covered by the report--
        (A) an identification of covered organizations that 
 have been designated as Foreign Financial Threat 
 Organizations;
        (B) the amount of assets seized from such Foreign 
 Financial Threat Organizations;
            (C) the actions taken by the Secretary to identify 
 such Foreign Financial Threat Organizations; and
            (D) the amount of funds the Secretary was able to 
 return to victims of fraud by such Foreign Financial 
 Threat Organizations.

    (3) Public availability.--The Secretary shall make publicly 
 available a version of each report required by paragraph

    (1) that does not include any sensitive information.

    (4) Appropriate congressional committees defined.--In this 
 subsection, the term ``appropriate congressional committees'' 
 means--
        (A) the Committee on Foreign Relations and the 
 Committee on Banking, Housing, and Urban Affairs of the 
 Senate; and
        (B) the Committee on Foreign Affairs and the 
 Committee on Financial Services of the House of 
 Representatives.

    (f) Covered Organization Defined.--In this Act, the term ``covered 
organization'' means a foreign entity (as defined in 

section 800.220

    (a) of title 31, Code of Federal Regulations), including any subsidiary or 
affiliate of a foreign entity, that engages in fraudulent activity in 
an attempt to deceive United States citizens or aliens who are lawful 
permanent residents of the United States to provide cash or other 
assets to such foreign entity, as jointly determined by the Secretary 
of the Treasury and the Attorney General.
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