Vice President JD Vance will convene the first meeting of a new White House anti-fraud task force Friday, an administration official told NBC News.
The project, which President Donald Trump announced last month in his State of the Union address, is aimed at reducing federal spending by identifying misuse of federal funds.
Vance will be joined at the meeting by Federal Trade Commission Chair Andrew Ferguson, who will serve as the task force’s vice chair, and deputy White House chief of staff Stephen Miller, who will serve as a senior adviser, the official said. Other Cabinet secretaries and senior administration officials are expected to attend the meeting, which will be held on the White House grounds.
“The task force is an integral part of the Trump Administration’s effort to restore the vision of America as a high-trust society,” a Vance spokesperson said in a statement. “Its work is…
This remains the most prevalent form of financial crime globally. It targets the direct access points to your money: your cards and your bank accounts.
- Skimming: Criminals use small devices called “skimmers” placed over ATM or point-of-sale card slots to capture the data from your card’s magnetic strip.
- Card-Not-Present (CNP) Fraud: This occurs during online shopping where a physical card isn’t required. Thieves use stolen card numbers, expiry dates, and CVV codes to make unauthorized purchases.
- Account Takeover (ATO): A hacker gains access to your online banking credentials (often through malware or phishing) and changes the contact details or passwords, locking you out while they drain your funds.