On the recordJanuary 24, 2017
Mr. President, as Chairman of the Senate Aging Committee, I am delighted to introduce, with my good friend and former ranking member, Senator Claire McCaskill, the Senior$afe Act of 2017, a bill that would help protect American seniors from financial fraud. I'm pleased that Senators Isakson, Casey, Tillis, Klobuchar, Wicker, Shaheen, Capito, Tester, Barrasso, Donnelly, Heller, and King have joined us in sponsoring this bill. According to the GAO, financial fraud targeting older Americans is a growing epidemic that costs seniors an estimated $2.9 billion annually. Stopping this tsunami of fraud is one of the top priorities of the Aging Committee. Last Congress, we held several hearings examining an endless variety of financial abuses targeting our nation's seniors. These range from the notorious IRS phone scam that burst onto the scene in 2015, to the incredible ``drug mule'' scam, where trusting seniors have been tricked by international narcotics traffickers into unwittingly serving as drug couriers, and then find themselves arrested and locked-up in foreign jails. The common denominator in these schemes involves innocent seniors falling prey and being tricked out of their hard-earned savings. Sadly, not all scammers are strangers to their victims, in too many cases, seniors are exploited by someone they know well. Sometimes, that abuse is perpetrated by ``friends'' or family members who are handling the victim's affairs informally.…
Source
govinfo.gov




