Sinema, Poliquin, Murphy, Mulvaney Introduce Legislation to Protect Seniors from Financial Fraud

Washington, D.C. – February 16, 2016 – (RealEstateRama) — Congresswoman Kyrsten Sinema (AZ-09), Congressman Bruce Poliquin (ME-02), Congressman Patrick E. Murphy (FL-18), and Congressman Mick Mulvaney (SC-05) introduced the Senior$afe Act, bipartisan legislation to protect seniors from financial fraud. The bill helps individuals and financial institutions communicate with appropriate agencies when they suspect financial exploitation of seniors. It also encourages firms to train employees to identify and stop financial fraud.

“Americans lose billions of dollars each year to financial fraud, and seniors are a top target,” said Congresswoman Sinema. “These financial crimes devastate their banks accounts and often go unreported. This bill is a commonsense solution to help identify, report, and stop financial abuse of Arizona seniors.”

“Seniors have worked their whole lives to build their savings,” said Congressman Poliquin. “It is absolutely unacceptable and deplorable for their hard-earned investments to be so egregiously abused by common criminals. I am very pleased to join with Congresswoman Sinema in bringing this important legislation to the House to protect our seniors.”

“With a large number of seniors calling the Treasure Coast and Palm Beaches home, I am deeply concerned about the proliferation of elder abuse, including financial exploitation. By training financial professionals to identify warning signs of fraud targeting senior citizens and encouraging them to report suspected exploitation, we will save seniors’ hard earned money and strengthen consumer protection,” said Congressman Murphy. “Senior issues are Florida issues, and I am proud to support this early detection and reporting measure to combat elder abuse.”