(12-16-19) US: “SAFE WEB Extension Act” Passes in the House

In 2005, foreign players were involved in nearly 20% of the fraud American consumers complained about.

In 2006, the Federal Trade Commission analyzed the Consumer Sentinel Network database and concluded that American’s lost about $219M to foreign companies for the year.

From 2006-2008 (as the FTC reported in 2009), it got more than 260,000 cross-border complaints, and responded to “38 requests from 14 foreign agencies in 6 countries resulting in several enforcement proceedings” (HR).

From Jan. 1, 2015 – Oct. 16, 2019, U.S. consumers filed more than 255,000 complaints against foreign businesses, resulting in a total loss greater than $410M.