AARP Applauds Passage of Fraud and Scam Reduction Act

AARP applauded Congress for passing the bipartisan Fraud and Scam Reduction Act. The legislation, endorsed by AARP, is designed to address the pervasive increase and growing problem of scams and financial exploitation that threaten all Americans, and older Americans in particular.

The Fraud and Scam Reduction Act is sponsored by Senators Bob Casey (D-Pa.), Jerry Moran (R-Kan.), Amy Klobuchar (D-Minn.) and Susan Collins (R-Maine) and Representatives Lisa Blunt Rochester (D-Del.), Tim Walberg (R-Mich.), Ted Deutch (D-Fla.), Vern Buchanan (R-Fla.) and Peter Welch (D-Vt.).

“AARP is at the forefront of championing laws and regulations that prevent financial exploitation against seniors and empower consumers to protect themselves,” said AARP Executive Vice President and Chief Advocacy and Engagement Officer Nancy LeaMond.  “Scammers use a wide range of increasingly sophisticated tactics and opportunities to steal money or sensitive personal information, so our nation’s laws need to keep up.  The Fraud and Scam Reduction Act includes important protections that can benefit all Americans.”

The Fraud and Scam Reduction Act will establish a Senior Scams Prevention Advisory Group to prevent scams that target seniors. The Advisory Group will create educational materials and information on model programs to guide retailers, financial services, and wire-transfer companies on prevention. Additionally, it would create an office within the Bureau of Consumer Protection to advise the Federal Trade Commission about preventing fraud targeting seniors and assist with monitoring for mail, television, internet, telemarketing, and robocalls targeting older Americans. The bill was passed as part of the bipartisan 2022 omnibus appropriations bill, which now goes to the President to be signed into law.

Since 2013, AARP has provided the AARP Fraud Watch Network as a free resource for people of all ages. Consumers may sign up for “Watchdog Alert” emails that deliver information about scams, or call a free helpline at 877-908-3360 to report scams or get help from trained volunteers in the event someone falls victim to scammers’ tactics. The Fraud Watch Network website provides information about the latest fraud and scams, prevention tips from experts, an interactive scam-tracking map and access to AARP’s hit podcast series, The Perfect Scam.