New “Report and Hold” Legislation Introduced by AARP Idaho will Protect Seniors from Fraud

Idaho is one of only eight states without these protections

 AARP Idaho is urging Idaho lawmakers to help protect vulnerable Idaho seniors by passing recently introduced “Report and Hold” legislation.

HB 182, sponsored by Rep. Jeff Ehlers, R-Meridian and Sen. Kevin Cook, R-Idaho Falls, enables the financial industry to withhold payments if illicit activity is suspected. It provides private and public partners with the collaborative, investigative, and information sharing tools they need to identify and stop financial crimes. These laws also help facilitate legal action against the financial criminals who are harming Idahoans.

Idaho is currently one of only eight states that does not provide “Report and Hold” authorities, which is leaving the financial assets of Idahoans vulnerable to financial crime and exploitation.

“Idaho’s demographics are changing. By 2026, 20% of our population will be 65 years and older,” said Lupe Wissel, AARP Idaho state director. “These Idahoans have spent a lifetime building a secure financial foundation. To protect their hard-earned money from criminals, it has become imperative for Idaho to adopt “Report and Hold” authorities.”

In 2023, there were 14,424 reported scam cases in Idaho: with a loss to Idahoans amounting more than $40 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 bill will be heard in the House Business Committee on Wednesday, February 19.