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Estimates show that fraud against senior citizens can cost more than $40 billion a year.
Back in 2013, U.S. Rep. Vern Buchanan, R-Fla., teamed up with U.S. Rep. Ted Deutch, D-Fla., to introduce the “Seniors Fraud Prevention Act” which increases the role of the Federal Trade Commission (FTC) in monitoring and offering response systems for when seniors are damaged by fraud. They’ve been pushing the bill since then and brought it back in April 2019 with U.S. Rep. Peter Welch, D-Vt., also behind it.