FEDERALhearing transcript

Senate Hearing on Financial Scams Targeting Seniors

Original title: STOPPING SENIOR SCAMS: DEVELOPMENTS IN FINANCIAL FRAUD AFFECTING SENIORS

January 1, 2018

financial fraud senior citizens consumer protection IRS impersonation retirement security

Track this bill to get notified when it advances a stage. One tap to stop, anytime.

The Frame

What this does

This hearing establishes the legislative focus for the 115th Congress regarding senior financial protection, which influences future federal consumer protection policies and public education initiatives.

Who is mentioned in the record

Potentially affected actors named in the source documents. Mention is not a position.

Senior citizens

This demographic is the primary target of the financial fraud schemes discussed and the intended audience for the committee's educational materials.

Federal Trade Commission (FTC)

The agency provides testimony and expertise on marketing practices and consumer protection enforcement.

What changed

Last recorded activity January 1, 2018.

What's next

Next step not available in the current record.

Summary

The U.S. Senate Special Committee on Aging held a hearing to examine the rise of financial fraud schemes targeting older Americans. The committee reviewed testimony from victims and federal officials regarding common tactics, such as IRS impersonation scams, and discussed strategies for prevention and public awareness.

Key Facts

The hearing was held on February 15, 2017, in the Dirksen Senate Office Building.
The committee identified three primary focus areas for the 115th Congress: retirement security, biomedical research for diseases affecting seniors, and financial scams.
A specific case was presented involving an 81-year-old victim who lost $8,000 to an IRS impersonation scam.
The committee previously produced a 'Fraud Book' and educational postcards to help seniors identify and avoid common scam tactics.
The hearing was originally scheduled for February 1, 2017, but was delayed due to Senate floor votes.

Frequently Asked Questions

What are the main goals of the Senate Special Committee on Aging?

The committee focuses on retirement security, biomedical research for diseases like Alzheimer's and diabetes, and preventing financial fraud targeting older Americans.

What resources are available to help seniors avoid scams?

The committee has produced a 'Fraud Book' and informational postcards containing tips on how to recognize and avoid common financial scams.

Why It Matters

News Coverage

No news coverage found yet. Articles are indexed twice daily.

Discoveries

Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.

policy shift90% confidence

Focus on Fraud Prevention

The committee explicitly prioritized financial scam prevention as one of its three core pillars for the 115th Congress.

Special Committee on Aging

Connected Entities

personLois Greisman“Associate Director, FTC Bureau of Consumer Protection”Map →

personRobert P. Casey Jr.“Ranking Member of the Special Committee on Aging”Map →

organizationSpecial Committee on Aging“U.S. Senate committee overseeing the hearing”Map →

personSusan M. Collins“Chairman of the Special Committee on Aging”Map →

personDiane A. Menio“Executive Director, Center for Advocacy for the Rights & Interests of the Elderl”Map →

personTimothy P. Camus“Deputy Inspector General for Investigations, TIGTA”Map →

personPhillip Hatch“IRS impersonation scam victim from Portland, Maine”Map →

Sources

Open source document

www.govinfo.gov

Analysis Score

0–100

Significance60
How much this matters to a regular citizen
Controversy10
Intensity of disagreement among stakeholders
Entertainment15
Compellingness for a non-policy-wonk reader
Buzz20
Current news / social attention level

Publisher tools