Seniors Fraud Prevention Act Will Educate Seniors and Protect Their Savings

Since our inception, American Senior Alliance has fought to help preserve the financial savings our older Americans have earned during their lifetime.

Since education is vital, we take every opportunity available to inform public officials about the dire need to protect our older Americans from fraud and scams.  Whether it is utilizing our advocates at state capitols, having spirited conversations with the media or talking with state officials on our podcasts, every outlet is crucial in helping our vulnerable seniors stay safe from fraud.  Sometimes we wonder if our message is being heard, although the recent Seniors Fraud Prevention Act signed into law gives us great hope. 

On our recent podcasts with Georgia Attorney General Chris Carr, Louisiana Attorney General Jeff Landry and Alabama Securities Commissioner Joe Borg, all three told our audience that education was the key to winning the battle against the fraud artists preying on older adults.  Thanks to the bipartisan effort by U. S. Senators Susan Collins and Amy Klobuchar, older adults can sleep a little easier knowing this legislation will educate the public and help fight against financial scams that swindle seniors out of their savings.

In Senator Susan Collins press release, she said, "The Seniors Fraud Prevention Act will enhance fraud monitoring, increase consumer education, and strengthen the complaint tracking system at the Federal Trade Commission to help prevent seniors from being robbed of the hard-earned savings through threatening and manipulative scams."

We believe the collaborative effort by our local, state and federal officials to slow the aggressive criminal fraud tactics targeting seniors along with the passage of The Seniors Fraud Protection Act, older adults may experience some relief from the fraudsters.  We are forever grateful for our government officials who recognized this crisis, fought back and passed this legislation.  According to U.S. Senator Amy Klobuchar, "Now that this legislation has been signed into law, we can take a critical step in combating fraud targeting seniors.  By identifying scams and educating consumers, this law will help prevent more seniors from falling victim to these tactics."  We certainly hope so!


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