US govt falls short in fight against global cyberscams, lacks unified system to track seized scam funds

The US government isn’t doing enough to fight the surge in cyberscams, and partnerships with the private sector remain fragmented and voluntary, an investigation into the global scam industry led by the Joint Economic Committee of the US Congress has found.

The government doesn’t even have a unified accounting of how much money has been seized from overseas scam compounds, nor how much has been returned to victims, according to the report, released Tuesday by ranking Democrats Senator Maggie Hassan and Rep Don Beyer.