Trump's week in review: Clergy Act signed; $42M in SNAP fraud uncovered

5. Trump says anti-fraud efforts put 'very big dent' in overseas scams

At a separate event Wednesday, Trump appeared with several Cabinet members and described how his administration is working to “put a very big dent” in what he called “a sophisticated criminal syndicate operating scam centers all around the world.”

Attorney General Blanche said that prosecutors and government agents "have restrained nearly a billion dollars stolen from Americans," while FBI Director Kash Patel said the administration’s crackdown on overseas scams has prevented “11,000 Americans from being fleeced of $675 million.”

Trump opened by noting that “almost three-quarters of American adults have been subjected to internet scams or cyber attacks” and that “Americans reported losing more than $20 billion to cyber-enabled crimes” in the past year.

Trump said his administration is using “the full force of the federal government to combat this scourge.” He pointed to an executive order he signed “directing every relevant department and agency to work together to combat predatory internet schemes and establish a victims’ restoration program to recover as much money for the victims as possible."

The president also cited “a historic national security memorandum unleashing the incredible talent, tools and resources of our private sector and companies to undertake offensive and defensive actions to stop the hackers.”

Trump said the government has prevented at least $1.6 billion in losses this year.

"Federal law enforcement has also frozen nearly $1 billion of cybercurrency ... tied to foreign scammers, shut down more than 500 fraudulent websites and coordinated with technology companies to disrupt millions and millions of online accounts used by foreign criminals," Trump said.