electronically transfer funds to another individual via 
a platform or intermediary. 
(2) SECRETARY.—The term ‘‘Secretary’’ means 
the Secretary of the Treasury. 
(3) TASK
FORCE.—The term ‘‘Task Force’’ 
means the Task Force on Payment Scams estab-
lished under section 3(a). 
SEC. 3. TASK FORCE ON PAYMENT SCAMS. 
(a) ESTABLISHMENT.—Not later than 90 days after 
the date of enactment of this Act, the Secretary shall es-
tablish a task force, to be known as the Task Force for 
Recognizing and Averting Payment Scams. 
(b) MEMBERSHIP.— 
(1) COMPOSITION.—The Task Force shall be 
chaired by the Secretary or a designee thereof, and 
shall consist of representatives from the following: 
(A) The Bureau of Consumer Financial 
Protection. 
(B) The Federal Communications Commis-
sion. 
(C) The Federal Trade Commission. 
(D) The Department of Justice. 
(E) The Office of the Comptroller of the 
Currency. 
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(F) The Board of Governors of the Federal 
Reserve System. 
(G) The National Credit Union Adminis-
tration. 
(H) The Federal Deposit Insurance Cor-
poration. 
(I) The Financial Crimes Enforcement 
Network. 
(J) A representative, appointed by the Sec-
retary in consultation with the Task Force, 
from a financial institution with expertise in 
identifying, preventing, and combating payment 
scams. 
(K) A representative, appointed by the 
Secretary in consultation with the Task Force, 
from a credit union with expertise in identi-
fying, preventing, and combating payment 
scams. 
(L) A representative, appointed by the Sec-
retary in consultation with the Task Force, 
from a digital payment network with expertise 
in identifying, preventing, and combating pay-
ment scams. 
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(M) A representative, appointed by the 
Secretary in consultation with the Task Force, 
from a community bank. 
(N) A representative, appointed by the 
Secretary in consultation with the Task Force, 
from a consumer group. 
(O) A representative, appointed by the 
Secretary in consultation with the Task Force, 
from an industry association representing tech-
nology or online platforms. 
(P) Not more than 5 representatives ap-
pointed by the Secretary to represent victims, 
scam support networks, and other relevant 
stakeholders in order to better assist consumers 
and stakeholders. 
(2) TERM OF APPOINTMENT.—The term of a 
member of the Task Force shall continue until the 
termination of the Task Force. 
(3) VACANCY.—Any vacancy occurring in the 
membership of the Task Force shall be filled in the 
same manner in which the original appointment was 
made. 
(c) PURPOSE.—The Task Force shall— 
(1) examine current trends and developments in 
payment scams, identify effective methods for pre-
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venting such scams, and issue recommendations to 
enhance efforts to identify and prevent such activi-
ties; 
(2) adopt a cross-sector approach to ensure its 
recommendations reflect the full scope of the issue, 
given that scams impact individuals across a wide 
range of industries, including financial services, tele-
communications, and technology; and 
(3) include representation from stakeholders 
with direct experience supporting victims of scams, 
as well as industry participants with insight into 
scam tactics and prevention strategies. 
(d) MEETINGS.—The Task Force shall meet not less 
than 3 times during the 1-year period beginning on the 
date of enactment of this Act, and thereafter at such times 
and places, and by such means, as the Chair of the Task 
Force determines to be appropriate, which may include the 
use of remote conference technology. 
(e) DUTIES.—The duties of the Task Force shall in-
clude— 
(1) evaluating best practices for combating 
methods used by scammers, including spoofed calls, 
scam text messages, and malicious advertisements, 
pop-ups, and websites; 
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(2) assessing how international jurisdictions 
have tried to prevent payment scams; 
(3) identifying and reviewing current methods 
used to scam a consumer through payment plat-
forms; 
(4) determining a strategy for education pro-
grams that better equip consumers to identify, avoid, 
and report payment scam attempts to the appro-
priate authorities; 
(5) coordinating efforts to ensure perpetrators 
of payment scams can be identified and pursued by 
law enforcement; 
(6) consulting with other relevant stakeholders, 
including State, local, and Tribal agencies and finan-
cial services providers; 
(7) determining whether any additional Federal 
legislation would be beneficial for law enforcement 
and industry in mitigating payment scams; and 
(8) identifying potential solutions to payment 
scams involving business email compromise. 
(f) COMPENSATION.—Each member of the Task 
Force who is a civilian or employee of the United States 
shall serve without compensation, other than compensa-
tion to which entitled as an employee of the United States, 
as the case may be. 
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