The Federal Trade Commission (FTC) testified today before the Joint Economic Committee, emphasizing its commitment to combating fraud and protecting consumers from scammers. Lois Greisman, Associate Director of the FTC’s Division of Marketing Practices, highlighted that fighting fraud is central to the agency's consumer protection mission.

In Fiscal Year 2025, the FTC initiated 40 law enforcement actions targeting various fraudulent schemes, including business opportunities, investment scams, unlawful robocalls, and impersonation frauds. These efforts resulted in over $1.8 billion in redress for affected consumers, showcasing the agency's aggressive approach to tackling deceptive practices.

The FTC's work is bolstered by consumer reports collected through its Consumer Sentinel Network. In 2025, the agency received 3 million fraud reports, indicating a significant rise in consumer losses to $15.9 billion, compared to $12 billion the previous year. Imposter scams remained the most reported type of fraud, while investment scams accounted for the highest financial losses.

The agency also collaborates internationally to track down foreign fraudsters and has targeted U.S.-based companies that facilitate fraudulent activities. A notable case involved a settlement with Paddle, a U.K. payment processor linked to tech-support scams.

In addition to enforcement, the FTC prioritizes consumer education, providing resources such as blogs, alerts, and webinars to help consumers recognize and avoid fraud. The Commission's testimony was approved with a unanimous vote of 2-0.