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Analyze HR5490 - Dismantle Foreign Scam Syndicates Act | DoTheySupportIt

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Analyze HR5490 - Dismantle Foreign Scam Syndicates Act

HR5490

Dismantle Foreign Scam Syndicates Act

This legislation directs the establishment of an interagency task force to disrupt and dismantle Southeast Asian criminal syndicates running online scams, including pig butchering cryptocurrency fraud schemes. The task force is mandated to coordinate a whole-of-government strategy, share intelligence, and partner with private entities like cryptocurrency exchanges. It aims to block enabling infrastructure, rescue human trafficking victims forced into operating these scams, recover stolen crypto assets for American victims, and impose sanctions on designated foreign perpetrators and organizations.

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