Fraud and Scam Reduction Act

The Fraud and Scams Reduction Act seeks to raise awareness of, identify, and combat schemes to defraud consumers, especially schemes that target seniors. Section 112 establishes the Senior Scams Prevention Advisory Group, which consists of government and industry representatives and is tasked with studying and upgrading existing educational materials aimed at preventing scams that affect seniors. Section 122 establishes the Office for the Prevention of Fraud Targeting Seniors within the Bureau of Consumer Protection. The Office is charged with assisting the Commission in oversight of fraud targeting seniors and coordination with other relevant agencies, dissemination of educational materials concerning fraud targeting seniors, and logging complaints of such fraud.