Too often, the tactics used to put an end to scams targeting seniors only work once fraud or abuse has taken place. It’s more difficult to prevent fraud in the first place. However, a new law, The Seniors Fraud Prevention Act, could help.
What is The Seniors Fraud Prevention Act?
Just last week, President Biden signed the bill into law, according to reporting from CBS affiliate WGME. The Seniors Fraud Prevention Act enjoys bipartisan support and exists to protect senior citizens from becoming victims of scams in the first place. The act provides for a new office within the Federal Trade Commission (FTC) that will work to root out scams and provide education for vulnerable seniors.
A few of the provisions of the act include:
- Enhanced fraud monitoring
- Increased consumer education on scams and forms of fraud
- A stronger complaint tracking system at the Federal Trade Commission
These efforts can help protect seniors from fraud, but avoiding falling for a scam involves vigilance as well. If you suspect that you are being targeted in a scam, report it to the FTC right away.
The Seniors Center works to serve as a resource to older Americans by educating our readers on fraud, scams, and issues surrounding Social Security. Stay up-to-date on our latest posts by following The Seniors Center on Twitter and Facebook today!