07/17/2025 | Press release | Distributed by Public on 07/17/2025 15:11
Jul 17, 2025
In 2024 Alone, Seniors Lost $4.8 Billion to Scammers
Despite Uptick In Fraud, Trump Administration Is Firing The Federal Workers Who Go After Fraudsters
Gillibrand Asks For Watchdog Report On Ability of Agencies To Make Protecting Older Adults a Top Priority
Today, U.S. Senator Kirsten Gillibrand, the top-ranking Democrat on the Senate Aging Committee, held a virtual press conference to discuss the Trump administration's cuts to federal agencies that protect seniors from frauds and scams. Last year, seniors lost almost $5 billion to scammers; these financial losses can be devastating for older adults with limited income.
Federal agencies like the Consumer Financial Protection Bureau track and investigate fraud complaints. But the Trump administration's attempts to cut critical staff is undermining their ability to go after fraudsters and protect seniors.
Gillibrand has called on the Government Accountability Office to examine how cuts affect federal efforts to protect seniors from scams.
"Every day, seniors fall victim to devastating scams that strip them of their life savings and steal their private information," said Senator Gillibrand. "The federal government must do more to stop scammers and protect older adults. As the top-ranking Democrat on the Senate Aging Committee, I am calling on the Trump administration to develop and implement a strategy to fight scams and to stop making cuts to federal agencies doing this critical work. I look forward to working across the aisle to fight for our seniors."
The full text of Senator Gillibrand's letter to head of the U.S. Government Accountability Office Gene Dodaro is available here.
The full text of Senator Gillibrand's letter to Acting Director of the Consumer Financial Protection Bureau Russell Vought is available here.
The Senate Aging Committee's 2025 report on scams facing our nation's seniors is available here.
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