To prevent mail, telemarketing, and Internet fraud targeting seniors in the United States, to promote efforts to increase public awareness of the enormous impact that mail, telemarketing, and Internet fraud have on seniors, to educate the public, seniors, their families, and their caregivers about how to identify and combat fraudulent activity, and for other purposes.
Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,
SECTION 1. SHORT TITLE.
This Act may be cited as the ``Senior Financial Empowerment Act of 2012''.
SEC. 2. FINDINGS.
The Congress finds as follows: (1) The proportion of the population of the United States age 60 years or older is predicted to drastically increase in the next 30 years as more than 76,000,000 Baby Boomers approach retirement and old age. (2) It is estimated that between 500,000 and 5,000,000 seniors in the United States are abused, neglected, or exploited each year. (3) Abuse, neglect, and exploitation of seniors crosses racial, social class, gender, and geographic lines. (4) Each year millions of individuals in the United States are victims of financial exploitation, including mail, telemarketing, and Internet fraud. Many of those who fall prey to such exploitation are seniors. (5) It is difficult to estimate the prevalence of fraud that targets seniors because cases are severely underreported and national statistics on senior fraud do not exist. (6) The Federal Bureau of Investigation notes that seniors in the United States are less likely to report fraud...