White House Executive Order on Scams and Fraud Takes Center Stage

Key Themes Explored in the Episode

During the discussion, Kate Griffin described the Executive Order as the “starting gun” in the race against scams—an important signal that the federal government is now treating scams as a national priority.

Nick Bourke emphasized that success will require more than enforcement alone. He noted that regulators, financial institutions, telecom carriers, and digital platforms must be empowered to share information and intervene more effectively when suspicious activity is detected.

The conversation also examined:

1. Coordination Across Government

The Executive Order relies heavily on the federal government’s National Coordination Center framework to align agencies such as the Departments of Treasury, State, Justice, and Defense. Whether that coordination translates into meaningful operational change remains to be seen.

2. Information Sharing and Safe Harbors

The guests explained that one of the largest barriers to scam prevention is the inability of private-sector participants to share threat intelligence quickly because of privacy, litigation, or antitrust concerns. Legislative or regulatory safe harbors may ultimately be necessary.

3. Targeting the Scam Business Model

Rather than focusing solely on individual fraudsters, the discussion stressed the need to undermine the economics of scams—making them harder, riskier, and less profitable for criminal enterprises to operate.

4. Victim Restoration

A particularly notable feature of the Executive Order is its call for a victim restoration program, which could help return seized assets to scam victims more efficiently.

5. Modernizing Law Enforcement Tools

The guests also highlighted the need to modernize legacy federal databases such as FBI and FinCEN reporting systems, many of which were designed before today’s high-speed digital scam environment.

What Comes Next?

While the Executive Order is an important milestone, the guests agreed that additional action will be needed from Congress, regulators, and the private sector. A successful anti-scam strategy will likely require:

• Clearer legal pathways for data sharing
• Better consumer reporting systems
• Greater use of AI and analytics
• International cooperation
• Faster prosecutions and asset recovery
• Ongoing public education efforts

Bottom Line

This episode makes clear that scams are no longer simply a consumer-protection issue, they are now a national economic security issue. The White House has taken an important first step, but whether the Executive Order produces meaningful results will depend on execution, follow-through, and sustained cross-sector collaboration.

Consumer Finance Monitor is hosted by Alan Kaplinsky, Senior Counsel at Ballard Spahr, and the founder and former chair of the firm's Consumer Financial Services Group. We encourage listeners to subscribe to the podcast on their preferred platform for weekly insights into developments in the consumer finance industry.

View a transcript of the recording here.