TRAPS Act

[AI summary unavailable — showing source text] [Congressional Bills 119th Congress] [From the U.S. Government Publishing Office] [S. 2019 Introduced in Senate (IS)] <DOC> 119th CONGRESS 1st Session S. 2019 To establish a Task Force for Recognizing and Averting Payment Scams, and for other purposes. _______________________________________________________________________ IN THE SENATE OF THE UNITED STATES June 10, 2025 Mr. Crapo (for himself, Mr. Warner, Mr. Moran, and Mr. Warnock) introduced the following bill; which was read twice and referred to the Committee on Banking, Housing, and Urban Affairs _______________________________________________________________________ A BILL To establish a Task Force for Recognizing and Averting Payment Scams, and for other purposes. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, SECTION 1. SHORT TITLE. This Act may be cited as the ``Taskforce for Recognizing and Averting Payment Scams Act'' or the ``TRAPS Act''. SEC. 2. DEFINITIONS. In this Act: (1) Payment.--The term ``payment'' means any mechanism through which an individual can electronically transfer funds to another individual via a platform or intermediary. (2) Secre…