[thesis]

Isn't fraud already illegal?

[wmf]

They think there will be additional deterrence by making it super illegal. See "identity theft" for a previous example.

[aitchnyu]

So, did their action solve it?

[hammock]

Yes and assaulting someone is also illegal (whether with a weapon or not), reckless driving is also illegal (whether you are drunk or not), and violent hate crimes are illegal (whether you had discriminatory hate in your heart or not)

[Cheer2171]

Fraud has to be prosecuted by the Dept of Justice. Deceptive business practices can be independently pursued by the FTC.

[PeterisP]

The existing criminal process can prosecute fraud after the fact; but there are potential FTC regulations which could make it either harder to commit it or easier to detect it, acting as a deterrent before fraud is done.