ATLANTA, GA - Georgia Attorney General Chris Carr has joined a group of 47 Attorneys General in pressing Congress to pass the Fraud and Scam Reduction Act.
The Stop Senior Scam Act and the Seniors Scam Prevention Act of 2021 would help stakeholders train personnel to spot the warning indications of elder fraud and avert irreversible damage to elderly victims.
"We will continue to do all that we can to ensure the protection of our older, at-risk Georgians. We are proud to be part of this bipartisan effort to implement more programs to fight fraud and exploitation specifically targeted against this vulnerable population," said Carr.
The Act, H.R. 1215, is a bipartisan legislation that will create innovative approaches to address older citizens' financial exploitation. The bill creates the Senior Scams Prevention Advisory Group, which will report to the Federal Trade Commission (FTC). The FTC will also collaborate with the U.S. Attorney General's Office to collect and log victim complaints and forward them to the appropriate criminal enforcement organizations.
The Act also establishes the Office for the Prevention of Senior Fraud to supplement the Senior Scams Prevention Advisory Group's work by:
- Keeping an eye out for new frauds targeting elders via the internet, mail, robocalls, telemarketing, and television;
- Spreading knowledge about prevalent scam tactics; and
- Disseminating information on how to report potential senior fraud schemes to a national fraud hotline and the Federal Trade Commission's Consumer Sentinel Network.
According to the FBI, senior scams are likely to be a growing problem due to the aging population. Seniors are estimated to lose more than $3 billion in losses annually.