How can we be protected from internet scams? is there an agency that regulates the internet or the websites?

I paid sum of money to gametesterguide.com through paypal offering a job for testing video games and you will be paid for it. after i paid them, i never heard from them. i lost my money, i got no job as they offered and i lost my trust to internet offers.
Answer
You should report this to the fbi http://www.ic3.gov/ you can also use this fbi report site: https://tips.fbi.gov/ you can also report it to the federal trade commission. pressure from the ftc can force ebay to clean up their act and do more to prevent these scumbags from using their site. https://rn.ftc.gov/pls/dod/wsolcq$.startup?z_org_code=pu01