Trump says US crackdown has curbed overseas scams

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US President Donald Trump said his administration had made a “very big dent” in scams run by foreign criminal networks targeting Americans with fraudulent investments. Speaking at a White House cybercrime prevention event on Wednesday, FBI Director Kash Patel said the agency had shut down 20 scam compounds worldwide.

Trump said federal law enforcement had warned more than 10,000 potential victims and prevented at least $1.6 billion in losses this year. Americans filed more than one million complaints about internet scams with the FBI in 2025, up 17% from 2024.

The administration highlighted efforts to target overseas crypto scams. Deputy White House chief of staff Stephen Miller said Trump had “effectively declared cyber warfare against the cyber criminals”. The campaign comes ahead of the 3 November midterm elections, in which Republicans risk losing control of Congress.