Washington, D.C. – U.S. Senators Susan Collins (R-ME) and Bob Casey (D-PA), the Chairman and Ranking Member of the Senate Aging Committee, announced that their bipartisan resolution designating today, May 15, 2019, as National Senior Fraud Awareness Day passed the U.S. Senate unanimously.
This resolution calls attention to the increasing number of financial frauds and scams targeting seniors. According to the Government Accountability Office, financial fraud committed against older Americans is a growing epidemic that costs seniors approximately $3 billion annually.
“As the Chairman of the Senate Aging Committee, combatting fraud has long been one of my top priorities. The Aging Committee has made great strides in the fight against financial fraud and exploitation, and we must continue this momentum to ensure the safety of our nation’s seniors,” said Senator Collins. “This resolution raises awareness about the increasing number of fraudulent schemes targeted at vulnerable individuals, encourages the implementation of prevention policies, and honors the individuals and organizations who work tirelessly to counteract these scams.”
“I hear far too many stories of Pennsylvania seniors who have been scammed out of their hard earned savings,” said Senator Casey. “These bad actors will never stop on their own, so we must continue to find ways to fight back, including alerting seniors to these unscrupulous tactics. I am pleased that the Senate continues to bring awareness to this issue and will continue working to ensure seniors don’t lose one more penny.
Earlier this year, the Aging Committee released its 2019 Fraud Book at a hearing detailing the Top 10 scams reported to the Committee’s toll-free Fraud Hotline (1-855-303-9470) last year. In 2018, the Committee’s Fraud Hotline received more than 1,500 complaints of frauds targeting seniors around the country. Since 2013, the Aging Committee’s Fraud Hotline has received more than 8,200 complaints from individuals in all 50 states, the District of Columbia, and Puerto Rico. Once again, the IRS impersonation scam, where criminals pretending to work for the IRS call unsuspecting victims and demand payment of supposed back taxes, was the most reported scam.
Senators Collins and Casey hold frequent hearings on issues related to fraud and scams targeting older adults. In January, the Aging Committee held the 22nd hearing in the past six years on scams.
Click HERE to read the resolution.