AARP Idaho Passes New “Report and Hold” Legislation that Will Protect Seniors from Fraud

Ray Woo

New legislation to help protect vulnerable Idaho seniors easily moved through the House and Senate and is now law in Idaho.

HB 323, sponsored by Rep. Jeff Ehlers, R-Meridian and Sen. Kevin Cook, R-Idaho Falls, enables the financial industry to pause payments temporarily (up to 15 days) if illicit activity is suspected. It provides private and public partners with the investigative and information sharing tools needed to identify and stop financial crimes. This law also helps facilitate legal action against the financial criminals who are harming Idahoans.

Idaho was one of only eight states that did not provide “Report and Hold” authorities, which left the financial assets of Idahoans vulnerable to financial crime and exploitation.

“Thanks to the Idaho Department of Finance, financial institutions, law enforcement and other partners, we uncovered a critical gap that allowed bad actors to exploit vulnerable Idahoans,” said Lupe Wissel, AARP Idaho state director. “By empowering financial institutions with “Report and Hold” authorities we are allowing them to intervene when necessary and protect the hard-earned money accumulated by older Idahoans.”

In 2024, there were 18,447 reported scam cases in Idaho: with a loss to Idahoans amounting to more than $53 million. By allowing a temporary pause to be placed on suspicious, exploitative transactions, Idaho can take additional steps – at relatively little to no cost – to ensure that the money saved for retirement is intended for its original purpose, and that victims of fraud won’t have to rely solely on social security and state programs for their care.

The new law goes into effect July 1, 2025.