Bill · S. 2019· Senate(119-S-2019)

Taskforce for Recognizing and Averting Payment Scams Act

A bill to establish a Task Force for Recognizing and Averting Payment Scams, and for other purposes.

Age: 75 years

Idaho

Introduced: 6/10/2025
Last activity: 6/10/2025 — Read twice and referred to the Committee on Banking, Housing, and Urban Affairs.
Sponsored by: Mike Crapo
Cosponsors: - 4 - 8

Finance and Financial Sector

Introduced
In Committee

What this bill would do

This bill, known as the "Taskforce for Recognizing and Averting Payment Scams Act" or the "TRAPS Act," aims to create a Task Force to combat payment scams. The Secretary of the Treasury is required to establish this Task Force within 90 days of the Act's enactment. The Task Force will consist of various government agencies and representatives from financial institutions, consumer groups, and victims. Its primary goals include examining scam trends, identifying prevention methods, and creating consumer education strategies. The group is also tasked with evaluating methods used in scams like spoofed calls and business email compromise. Finally, the Task Force must submit annual reports to specific Congressional committees.

Yes· 3 of 8

Does this give people more protection from unfair business practices?+5
The bill enhances consumer protection by establishing a task force to prevent and identify payment scams.
Does this better protect the country from computer attacks?+4
The bill addresses digital payment security, which contributes to broader cybersecurity efforts.
Does this make what the government does easier for the public to see?+3
The bill requires public online reporting of the task force's findings and updates.