Every day, criminals steal $430 million from American families, with total fraud proceeds reaching $158 billion annually. They are a critical funding source for transnational criminal organizations, fueling drug cartels, human trafficking, and terrorism.

Fraud losses reported to the FBI increased 15-fold over roughly the last decade, and the rise of new technologies like AI has made scams more sophisticated and easier to perpetuate to harm American families.

The Aspen Institute Financial Security Program launched the National Task Force on Fraud and Scam Prevention in 2024 to develop the first coordinated U.S. national strategy aimed at stopping financial fraud at its root.

The guiding purpose of the Task Force is to bring together all parties with an interest in protecting consumers and restoring trust in our financial system. This is the first time such a broad collection of leaders from across government, law enforcement, private industry, and civil society are coming together to develop a nationwide strategy aimed at helping prevent fraud and scams.