Mr. President, thank you for convening this summit and for your commitment to protecting Americans of all ages, including those in their golden years.
Older Americans have so much to offer our country, but they also face special risks. In recent years, fraud directed against older Americans — especially over the Internet — has grown distressingly common. Seniors lose billions of dollars a year to these frauds, with the average reported individual loss exceeding 34,000 dollars. And many of the perpetrators are not fellow Americans, but transnational criminal organizations — ruthless cartels located overseas that steal hard-earned savings from some of our finest and most vulnerable citizens.
As the President has recognized, this has to stop. And his administration is stopping it. I’d like to highlight today three specific steps the Justice Department is taking to protect America’s seniors from fraud and abuse.
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