The Fight Against Fraud and Scams

About 1 in every 5 Americans are directly affected by financial fraud and scams, with losses totaling over $16 billion each year. This rampant issue undermines our economy, putting both national security and consumer protection at serious risk.

Who benefits from defrauding consumers?

America's enemies are targeting U.S. citizens through fraud and scams. "North Korean hackers, Mexican cartels, Russian crime syndicates, and Triad gangs are among the U.S. adversaries that benefit from scams and other financial crimes." (The Aspen Institute National Task Force On Fraud And Scam Prevention)

As Americans lose money, foreign adversaries use stolen dollars to fund hostile operations. "[F]raud has evolved into a transnational enterprise that merges technological innovation with organized criminal and state-backed operations often linked to adversarial nations like North Korea, China, and Russia. This means that every dollar lost is not just a personal setback—it’s money stolen from Americans and redirected to fund hostile operations that undermine our national security." (R Street Institute)

Scammers deploy new technologies for malicious ends

Technological developments like AI and crypto are accelerating scams. "Artificial intelligence and fast payments technologies are accelerating scammers' destructive capabilities. According to the FBI, cryptocurrency investment fraud caused more than $5.8 billion in reported losses in 2024 alone." (The Aspen Institute National Task Force On Fraud And Scam Prevention)

Our mission

At The Ledger Project, we believe that preventing fraud is foundational to consumer trust and the integrity of payments and commerce. To effectively fight fraud, we need a coordinated system-wide effort.

• Cross-industry collaboration: Targeting fraud at all stages of its lifecycle requires every part of the ecosystem to act — government, businesses, financial institutions, payment networks, social media platforms, telecommunications companies, and law enforcement each play a unique role.
• Every sector that scammers target must operate under the same clear standards and responsibilities: When gaps remain, bad actors move faster than enforcement, and consumers pay the price.

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