MN Lawmakers: Protect Victims of Fraud

Protect Victims of Fraud

A fast-growing fraud industry steals billions of dollars from U.S. consumers every year, with older adults often being hit the hardest. It’s time for Minnesota lawmakers to step up and protect victims of fraud and scams.

Fraud often goes unreported, and even when it is reported, it frequently goes uninvestigated. This means millions of victims lose billions of dollars each year, with little chance of getting their money back or seeing the criminals caught. Lawmakers must take action to help prevent financial ruin for fraud victims.

That’s why AARP Minnesota supports the creation of a consumer fraud restitution fund (S.F. 447, Rest). This fund would:

• Motivate the Attorney General to sue scammers and help victims recover their money.
• Encourage scam victims to report crimes.
• Use penalty money from big company bad actors to pay back victims who can’t recover their losses otherwise.

Tell your lawmakers to help Minnesotans recover financially if they’ve been scammed.

RECIPIENTS:

Your Minneosta State Representative
Your Minnesota State Senator

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Subject Protect Minnesotans from Scams (SF 447)

Dear Decision Maker,

I am writing to urge you to protect fraud victims this year. A fast-growing fraud industry steals billions of dollars from US consumers annually, with a particularly profound impact on older adults who are often least able to recover financially.

Currently, there are few viable options for recovering money lost to scams. However, a Consumer Fraud Restitution Fund could help address this issue. Under the proposed bill (SF 447), to be authored by Senator Rest and Representative Lee, excess funds from state civil penalty payments in consumer fraud enforcement cases would be directed to a new restitution fund rather than the state’s general fund. To be eligible for this fund, the Attorney General would bring a public enforcement action against a defendant based on an investigation establishing that the person was defrauded.

As things stand, public civil law enforcement tools are insufficient to stop scam operations. Providing a means for victims to recover their money would give the Attorney General a strong incentive to pursue scammers more aggressively.

Additionally, it would encourage more people to report financial crimes, knowing they have a chance to get their money back.

Message Body

Please support establishing a Consumer Fraud Restitution Fund (SF 447). . Thank you for your consideration.

Thank you.

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