New legislation by a local lawmaker that is designed to protect seniors from being conned by scammers have moved forward in Harrisburg.
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State Representative Joe Hogan, a Republican from Middletown, recently announced that his bill aimed at safeguarding seniors from financial exploitation has passed the Pennsylvania House with bipartisan support.
House Bill 2064, which cleared the House with a vote of 152-49, is now headed to the Pennsylvania Senate for further consideration.
The bill introduces measures to prevent the financial abuse of older adults by enhancing the mandatory reporting and disclosure of relevant records to state investigators, Hogan said.
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Under the proposed legislation, financial institutions and fiduciaries would have the authority to temporarily halt transactions suspected of being linked to financial exploitation. They could also participate in judicial proceedings designed to protect the interests of older adults.
In addition, the bill would facilitate the sharing of information and records between financial institutions, fiduciaries, and area agencies on aging. Similar to other voluntary reporters to protective services, these institutions and fiduciaries would be granted immunity from civil or criminal liability when they report suspected exploitation, share records, provide information, or delay financial transactions, the lawmaker’s office said.
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“When I held a hearing on the increase of scams and fraud in March of this year, we learned tens of thousands of dollars are lost every week in Bucks County to these types of criminal acts. This kind of legislation has been discussed for over a decade in Harrisburg but with no movement. I’m glad we were able to get this done and hopefully to the governor’s desk. Seniors hard-earned money is at stake,” Hogan said.
The legislative push comes as law enforcement officials across the county and state continue to tackle the growing number of financial exploitation among older residents.
Hogan’s 142nd Legislative District covers all of Langhorne Borough, Langhorne Manor Borough, Lower Southampton Township, and Penndel Borough and part of Middletown and Northampton townships.
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The Federal Deposit Insurance Corporation provided tips on how to avoid financial scams:
- Do not open email from people you don’t know. If you are unsure whether an email you received is legitimate, try contacting the sender directly via other means. Do not click on any links in an email unless you are sure it is safe.
- Be careful with links and new website addresses. Malicious website addresses may appear almost identical to legitimate sites. Scammers often use a slight variation in spelling or logo to lure you. Malicious links can also come from friends whose email has unknowingly been compromised, so be careful.
- Secure your personal information. Before providing any personal information, such as your date of birth, Social Security number, account numbers, and passwords, be sure the website is secure.
- Stay informed on the latest cyber threats. Keep yourself up to date on current scams. The Cybersecurity and Infrastructure Security Agency (CISA) can provide you with Alerts.
- Use Strong Passwords. Strong passwords are critical to online security. Review CISA guidance on Choosing and Protecting Passwords.
- Keep your software up to date and maintain preventative software programs. Keep all of your software applications up to date on your computers and mobile devices. Install software that provides antivirus, firewall, and email filter services.
- Update the operating systems on your electronic devices. Make sure your operating systems (OSs) and applications are up to date on all of your electronic devices. Older and unpatched versions of OSs and software are the target of many hacks. Read the CISA security tip on Understanding Patches and Software Updates for more information.
Officials offered a list of common scams to look out for:
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Money Mules
Scammers use people as “money mules” to receive or move money obtained from victims of fraudulent activities. Scammers proactively recruit people to be part of fraudulent activity without their knowing it. If a stranger asks you to open a bank account, or asks for access to your bank account or debit card, be extremely guarded. A scammer may ask you to move money and direct you to deposit funds into your bank account, or ask you to purchase virtual currency or gift cards for someone else’s benefit. In these scenarios, you may be unknowingly hiding someone else’s money for them. Be very cautious if a stranger asks you to receive or forward packages containing money or goods, which may also be part of a similar fraudulent scheme.
If you believe you have engaged in, or contributed to, money mule activities, stop transferring money or merchandise, and stop communicating with the person giving you direction. Then, immediately report your concern to your bank. Your banker can assist you with the appropriate steps toward protecting your bank account and money. You should also report the suspected activity to law enforcement. Visit the U.S. Department of Justice webpage on money mules for more information.
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Online Dating
Romance scammers, as they are often called, create fake profiles and try to develop relationships with their targeted victims through online dating apps or social networking websites. Once the relationship develops and they have earned your trust, the scammer makes up a story and asks for your money. Be aware that scammers are lurking in these areas, so you can keep yourself and your money safe. The Federal Trade Commission (FTC) has additional information on romance scams.
Impostors
Impostor scams are when a scammer pretends to be someone you know or trust to convince you to send them money. They may even claim they are with the FDIC or another government agency. These scams are communicated through emails, phone calls, letters, text messages, faxes, and social media. The messages might ask you to “confirm” or “update” confidential personal financial information, such as bank account numbers. In other cases, the communication might be an offer to help victims of current or previous frauds with an investigation or to recover losses. Some scams request that you file official looking forms, such as insurance claims, or pay taxes on prize winnings. They might claim that you have an unpaid debt and threaten you with a lawsuit or arrest if you don’t pay. Other recent examples include check endorsements, bankruptcy claimant verification forms, stock confirmations, and investment purchases.
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The FDIC or other government agencies do not send unsolicited correspondence asking for money or sensitive personal information, and we will never threaten you, or demand that you pay by gift card, wiring money, or digital currency. FDIC Consumer News: Scammers Pretending to be the FDIC has more information on impostor scams.
Mortgage and Foreclosure Scams
Watch out for scammers who falsely claim to be lenders, loan servicers, financial counselors, or representatives of government agencies who can help with your mortgage. These criminals prey on vulnerable, desperate homeowners. For more on mortgage scams and how to protect yourself, visit the FTC Mortgage Relief Scams.
Foreclosure scams usually come from multiple advertisements stating that a company wants to save you from foreclosure. This scam allows fraudsters to take the equity out of your home. They may even try to evict you from your home and sell it. Learn more at Common Foreclosure Rescue and Loan Modification Scams under the FDIC Consumer Assistance Topics.
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Ransomware
One cyber threat often discussed in the news is ransomware. Typically, this scam targets businesses, not individuals. Ransomware is a type of malware created to lock or encrypt files on an electronic device like a smart phone or computer. The sender of the ransomware then demands a ransom in exchange for unlocking or decrypting the information on your electronic device. The scammer typically threatens to publically disclose or sell the compromised information, if the ransom is not paid.
If you believe your business is a victim of a ransomware attack, contact law enforcement immediately. You can also contact a local field office of the Federal Bureau of Investigation (FBI) or U.S. Secret Service to report a ransomware attack and ask for assistance.
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Maintaining your cybersecurity will help prevent you from being a victim of identity theft and potential financial loss. Staying current on the latest types of scams can help you to identify the risks and learn how avoid them, so you can protect yourself and your finances.
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