FTC works to reduce cross-border fraud
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The Federal Trade Commission (FTC) sent a report to congress in an attempt to extend the Undertaking Spam, Spyware and Fraud Enforcement With Enforcers Beyond Borders (U.S. SAFE WEB) Act.
SAFE WEB was passed by Congress in 2006 and provides a framework to engage in cross-border assistance, including information sharing and investigative support. Thirty years ago, less than 1% of fraud reported to the FTC was cross border, while in 2022 more than 11% of complaints were cross border.
SAFE WEB was reauthorized by Congress in 2020 for seven years. In the new report, the FTC urges Congress to permanently reauthorize SAFE WEB by removing the sunset provision currently set to expire on September 30, 2027. The report also reiterates the FTC’s call for Congress to restore the agency’s ability to get money back to consumers harmed by unlawful conduct and to prevent bad actors from profiting from their misconduct.
Read the full report here.
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