The United States has disclosed that scams, often orchestrated by Chinese transnational criminal organisations, defrauded US citizens of at least $10 billion in 2024.

In a press statement dated July 23, 2026, US Secretary of State Marco Rubio said the losses stemmed from an unprecedented threat posed by online investment scams, which, he added, were also fuelling corruption, money laundering and human trafficking.

He said American children had also been specifically targeted by offenders operating overseas for “sextortion scams”, describing the impact as "devastating families and futures”.

Background

The disclosure was made as part of a new global visa restriction policy announced under President Donald Trump's Executive Order 14390 on combating cybercrime, fraud, and predatory schemes against American citizens.

Under the policy, introduced under Section 212(a)(3)(C) of the Immigration and Nationality Act, the US will restrict visa issuance to individuals responsible for or complicit in cybercrime and cyber-enabled crime including cyberscams and sextortion. 

Immediate family members of such individuals may also be subjected to visa restrictions.

Mr Rubio said the Trump administration was deploying every tool at its disposal including sanctions, prosecutions, asset seizures, extradition requests and international law enforcement cooperation to dismantle criminal scam networks and impose costs on those who enable them.

"By restricting visa issuance to those who are responsible for or complicit in these criminal enterprises, we are sending a clear message: The United States will go after those who prey on our citizens," he said.