Fraud and Scam Reduction Act

Fraud and Scam Reduction Act

This bill expands activities to address mail, telephone, and internet fraud, particularly such scams targeting older adults.

The bill establishes a Senior Scams Prevention Advisory Group, which must create model educational materials to educate employees of retailers, financial-services companies, and wire-transfer companies on how to identify and prevent scams that affect older adults.

Further, the Federal Trade Commission (FTC) must establish an advisory office in the Bureau of Consumer Protection to assist the FTC in monitoring scams targeting older adults, educating consumers, and receiving complaints.

Bill 117 HR 1215, also known as the Fraud and Scam Reduction Act, is a piece of legislation currently being considered by the US Congress. The main purpose of this bill is to address the issue of fraud and scams that target individuals, businesses, and government agencies.

The bill includes several key provisions aimed at reducing fraud and scams. One of the main provisions is the establishment of a task force dedicated to investigating and prosecuting individuals and organizations engaged in fraudulent activities. This task force would work closely with law enforcement agencies and other relevant entities to identify and combat fraud.

Additionally, the bill includes measures to increase penalties for individuals convicted of fraud and scams. This includes harsher fines and longer prison sentences for those found guilty of engaging in fraudulent activities. The bill also includes provisions to enhance consumer protection measures and increase awareness of common scams. Overall, the Fraud and Scam Reduction Act aims to strengthen efforts to combat fraud and scams in the United States. By establishing a task force, increasing penalties, and enhancing consumer protection measures, this bill seeks to protect individuals, businesses, and government agencies from falling victim to fraudulent activities.