House approves law to stop fraudsters
More than 35,000 Wisconsin seniors were victims of fraud last year alone – and scammers are stepping up efforts in central Wisconsin to steal money from them.
The grandparents scam is a biggie. Someone posing as a grandchild calls and asks for money. The cash must be sent by Western Union or other wire services. Crooks play on a grandparent’s love of their grandchildren to dupe them out of thousands. (Wisconsin Rapids Tribune has more details.)
The House approved the Baldwin Bill, which will work to stop fraudsters from targeting Wisconsin seniors. According to TradingMarkets.com:
The Senior Financial Empowerment Act, introduced by Baldwin and co-sponsored by Congressman Howard Coble (R-NC):
* Creates a centralized service for consumer education on mail, telemarketing, and Internet fraud targeting seniors;
* Establishes a National Senior Fraud Awareness week in May of each year to bring the issue to the public attention it warrants.
“The passage of the Senior Financial Empowerment Act is great news for Wisconsin’s older adults.” said John Hendrick, Attorney, CWAG Elder Financial Empowerment Project. “Internet and telemarketing fraud are constantly changing but our seniors will be vigilant if we get them the information they need. We applaud Congresswoman Baldwin’s work on this issue because we need the tools to stop this epidemic,” Hendrick said.