$150 Billion and Counting: The Urgent Battle Against Scams

In this episode of What’s at Stake, Penta partner Bryan DeAngelis and managing director Stephanie Walstrom dive into one of the fastest-growing threats to U.S. economic and national security: fraud and scams. They’re joined by Kate Griffin and Erin Borġ of the Aspen Institute’s Financial Security Program, co-authors of United We Stand: A National Strategy to Prevent Scams and leaders of the National Task Force on Fraud and Scam Prevention. Kate and Erin unpack Aspen’s development of a coordinated, whole-of-ecosystem approach to combating scams, bringing together government agencies, law enforcement, industry, and civil society actors. They walk through the report’s major recommendations, from building stronger interagency mechanisms to modernizing data sharing and strengthening private-sector accountability. Together, they explore why scams must now be understood as a national security issue, how early federal responses (like DOJ’s new Strike Force on Cryptocurrency Scams) signal growing momentum, and what meaningful progress looks like in both the near and long term. They also discuss how a more integrated national strategy could ultimately reshape the everyday experience of consumers navigating an increasingly complex digital and financial landscape. You can read the United We Stand report here: https://fraudtaskforce.aspeninstitute.org/nationalstrategy