[Congressional Bills 108th Congress]
[From the U.S. Government Publishing Office]
[S. Res. 424 Agreed to Senate (ATS)]

  2d Session
S. RES. 424

  Designating October 2004 as ``Protecting Older Americans From Fraud 
                                Month''.


_______________________________________________________________________


                   IN THE SENATE OF THE UNITED STATES

                           September 14, 2004

  Mr. Craig (for himself, Mr. Breaux, Mr. Fitzgerald, Mr. Levin, Mr. 
    Wyden, Mr. DeWine, Mrs. Feinstein, Mr. Hagel, Ms. Mikulski, Mr. 
Cochran, Mr. Smith, Mrs. Murray, Mr. Bayh, Mr. Burns, Mr. Campbell, Mr. 
Bunning, Mr. Kohl, Mr. Byrd, Mr. Sessions, Mr. Hatch, and Ms. Stabenow) 
submitted the following resolution; which was referred to the Committee 
                            on the Judiciary

                           September 30, 2004

                Reported by Mr. Hatch, without amendment

                            October 5, 2004

                        Considered and agreed to

_______________________________________________________________________

                               RESOLUTION


 
  Designating October 2004 as ``Protecting Older Americans From Fraud 
                                Month''.

Whereas perpetrators of financial crimes frequently target their fraud schemes 
        at older Americans because older Americans possess a large percentage of 
        the individual household wealth in the United States;
Whereas many older Americans have been divested of their hard-earned life 
        savings by fraud and frequently pay a high emotional cost, losing not 
        only their money, but also their self-respect and dignity;
Whereas perpetrators of fraud schemes against older Americans reach their 
        victims through the telephone, the mail, or the Internet;
Whereas the United States Postal Inspection Service responded to nearly 80,000 
        fraud complaints, arrested 1,453 fraud offenders, secured nearly 1,387 
        fraud convictions, and initiated 102 civil or administrative actions 
        involving fraud in fiscal year 2003;
Whereas fraud investigations by the United States Postal Inspection Service in 
        fiscal year 2003 resulted in nearly $1,500,000,000 in court-ordered and 
        voluntary restitution payments;
Whereas older Americans are often the disproportionate targets of cross-border 
        fraud, including prize promotions, sweepstakes scams, foreign money 
        offers, advance-fee loans, and foreign lotteries, and file 20 percent of 
        all cross-border fraud complaints;
Whereas there was an 80 percent increase in 2003 of reports of Internet fraud 
        targeting older Americans, and the amount of money lost by older 
        Americans to Internet fraud increased from $2,690,618 in 2002 to 
        $12,818,313 in 2003, a 375 percent increase in money lost;
Whereas the Federal Trade Commission reports that 27,300,000 people in the 
        United States have been victims of identity theft in the last 5 years, 
        including 9,900,000 people in the last year alone, and that identity 
        theft has cost businesses and financial institutions nearly 
        $48,000,000,000, in addition to the reported $5,000,000,000 in out-of-
        pocket expenses incurred by consumer fraud victims;
Whereas there was a 200 percent increase in 2002 of identity theft targeting 
        older Americans, and credit card fraud is perpetrated against older 
        Americans at a higher rate than the general population of the United 
        States;
Whereas the Federal Trade Commission continues to successfully implement its do-
        not-call registry, with 60 percent of consumers surveyed stating that 
        they registered and 80 percent of the registered consumers surveyed 
        reporting fewer calls, but more older Americans need to be aware that 
        the do-not-call registry is available;
Whereas fraud schemes targeting older Americans have caused losses estimated at 
        millions of dollars a year, and have cost some older Americans their 
        homes;
Whereas consumer awareness is the best protection from telemarketing, mail, 
        Internet, and identity fraud schemes, and the Federal Trade Commission 
        and the United States Postal Inspection Service have resources available 
        to educate and assist the public; and
Whereas it is vital to increase public awareness of the enormous impact that 
        fraud has on older Americans and to educate the public, older Americans, 
        their families, and their caregivers about a wide array of fraud 
        schemes, such as telemarketing, mail, Internet, and identity fraud, and 
        how to report suspected fraud to the appropriate authorities: Now, 
        therefore, be it
    Resolved, That the Senate--
            (1) designates October 2004 as ``Protecting Older Americans 
        From Fraud Month''; and
            (2) requests that the President issue a proclamation 
        calling on the people of the United States to observe the month 
        with appropriate activities and programs that--
                    (A) prevent the purveyors of telemarketing, mail, 
                Internet, and identity fraud from victimizing the 
                people of the United States; and
                    (B) educate and inform the public, older Americans, 
                their families, and their caregivers about a number of 
                financial crimes, such as telemarketing, mail, 
                Internet, and identity fraud.
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