Trump described a long-running menace of fraudsters, hackers, and foreign criminal syndicates running scam centers that target Americans through ransomware, phishing, impersonation schemes, and other tactics. Nearly three-quarters of American adults have encountered internet scams or cyberattacks. Reported losses exceeded $20 billion in a recent year alone—and the true figure is likely much higher. Seniors have been hit particularly hard, with one official noting more than $7