Cracking Down on Scams

The Federal Trade Commission reported over $10 billion in losses due to fraud and identity theft last year. AARP is committed to combating fraud by educating people about current trends and consumer protections. We recently hosted a telephone town hall that reached people in their homes statewide. Watch a recording of the event.

AARP and others successfully advocated for new consumer protections in Minnesota this year, including:

Cracking Down on Cryptocurrency Scams
Criminals are adept at exploiting new technologies to scam consumers. AARP advocated for consumer protections to regulate virtual currency kiosks, also known as cryptocurrency ATMs. Crypto ATMs look and operate like bank ATMs and are found in grocery stores, convenience stores, gas stations, restaurants, and other spots across the state. The bill protects new customers who are victims of fraud by providing a refund of the total transaction amount as long as they report the fraud within 14 days. It also sets a daily virtual currency transaction limit of $2,000 for new customers and requires operators to post warning signs that scammers may use virtual transactions to defraud consumers.

The new law:

• Requires kiosk operators to post warnings about potential fraud
• Limits transactions for new customers to $2,000 a day
• Provides a full refund for new customers who are victims of fraud if they report it within 14 days of the transaction to the police and kiosk operator

Cracking Down on Real Estate Scams
Lawmakers took action to prohibit unfair real estate agreements. These scams occur when brokerage firms prey upon vulnerable homeowners, offering small cash gifts - some as low as $300 - in exchange for decades-long contracts lasting up to 40 years for exclusive property sales rights. As a result, homeowners face huge penalties of 3% of their property value if they want the agreements removed, list their property with another firm, or transfer a property title to a family member upon death, divorce, or foreclosure. AARP supported this legislation and worked to ensure that Minnesota's Attorney General has the authority to seek restitution from these bad actors and allow individuals to file for damages in court.

The new law:

• Contracts are no longer enforceable
• Victims can sue in court or seek restitution from the Minnesota Attorney General’s office
  

If you can spot a scam, you can stop a scam.

The AARP Fraud Watch Network™ provides free information, tools and tips to help you protect your hard-earned dollars from frauds and scams. AARP Minnesota advocates at the state, federal, and local levels to improve consumer protections and enforce laws. If you've been targeted by scams or fraud, you are not alone.

Stay Informed

Knowledge gives you power over scams. The AARP Fraud Watch Network^TM equips you with reliable, up-to-date insights, alerts and fraud prevention resources to help you spot and avoid scams and protect your loved ones. We even cover the latest scams in the news.

Find Support

If you've been targeted by scams or fraud, you are not alone. Our trained fraud specialists provide support and guidance on what to do next and how to avoid scams in the future. The AARP fraud helpline, 877-908-3360, is free and available to anyone. We also offer online support sessions for further emotional support.

Have a Voice

AARP fights for consumers by advocating for laws and regulations to stop scams and shut down fraud attempts. We also provide a voice to consumer concerns and help shape the public discussion on fraud.

Text FWN to 50757 to get regular updates on the latest scams by signing up for biweekly Fraud Alerts.

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