A resolution designating October 2004 as "Protecting Older Americans From Fraud Month".

        [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.
<all>