[Congressional Record Volume 167, Number 65 (Thursday, April 15, 2021)]
[Extensions of Remarks]
[Page E405]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                      FRAUD AND SCAM REDUCTION ACT

                                 ______
                                 

                               speech of

                        HON. SHEILA JACKSON LEE

                                of texas

                    in the house of representatives

                       Wednesday, April 14, 2021

  Ms. JACKSON LEE. Mr. Speaker, I rise today in support of H.R. 1215, 
the Fraud and Scam Reduction Act, which will create the Senior Scams 
Prevention Advisory Group and the Senior Fraud Advisory Office to 
improve the Federal Trade Commission's (FTC) prevention and response 
efforts against senior fraud and scams through enhanced coordination 
with key industries, consumer advocacy groups, appropriate law 
enforcement agencies, and consumers.
  Every day, and far too often, vulnerable seniors in Texas and across 
the country fall victim to financial scammers.
  Seniors have worked their entire lives with the promise of a safe and 
secure retirement, but unfortunately criminals are taking advantage of 
uncertainty surrounding the pandemic and working overtime to target 
them.
  Retirement accounts are not the only damage these scams harm--they 
damage the independence and trust of a vulnerable community.
  During the COVID-19 pandemic, we have seen instances of fraud rise in 
unprecedented numbers, as scammers attempt to take advantage of senior 
citizens and deprive them of their hard-earned savings.
  Bad actors preying on older Americans is, unfortunately, nothing new. 
But in the midst of a global pandemic impacting Americans' lives and 
livelihoods, cracking down on those scams must be a priority.
  One such scam was thwarted by Houston police and the Harris County 
District Attorney, who made an arrest in February in an international 
cyber-scam that bilked unsuspecting, mostly elderly victims out of more 
than $1 million.
  This bill is aimed at cracking down on these scams by bringing public 
and private stakeholders together, so that we might give our seniors 
the resources they need to tackle these predatory schemes.
  Although 1 in 20 seniors in the U.S. is a target of fraud schemes, 
the National Adult Protective Services Association has found that only 
1 in 44 seniors report that they are victims of a fraud scheme.
  The Senior Fraud Advisory Office will address these low 
reportingrates by directing the FTC to educate seniors, families, and 
caregivers of the process for contacting law enforcement after being 
targeted in a fraud scheme.
  It will also direct the FTC to help improve the nation's fraud 
response efforts by reforming FTC's complaint system as well as 
enhancing fraud surveillance through better coordination with law 
enforcement agencies.
  The Senior Scams Prevention Advisory Group will bring together 
relevant government agencies, consumer advocates, and industry 
representatives to collect and develop model educational materials for 
retailers, financial institutions, and wire transfer companies to use 
in preventing scams on seniors.
  The FTC will coordinate efforts to educate the public and even the 
employees of key industries who often find themselves on the front 
lines of anti-scamming activities, helping prevent fraud before it 
happens.
  Mr. Speaker, we need to strengthen federal prevention efforts and 
ensure leaders in the public and private sectors are collaborating on 
effective safeguards.
  I urge all members to join me in voting to pass H.R. 1215, the Fraud 
and Scam Reduction Act, which is critical to protecting seniors' hard-
earned savings and stopping fraudulent schemes before it's too late.

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