Elder Fraud: New Bills, Persistent Gaps

Mounting fraud losses and increasingly sophisticated fraud attacks have drawn recent awareness to fraud affecting older adults. Congress introduced or advanced five bills that address elder fraud in 2026. Although the bills address important issues, they leave gaps in how elder fraud is defined and reported. The bills also focus heavily on scams, even though older adults are also victimized by identity fraud and trusted-person financial exploitation. These types of fraud sometimes overlap, making it difficult to understand the full extent of the problem. 

This report examines the systemic gaps in how elder fraud is identified and addressed, including the issues left unresolved by the recent bills. It also addresses how financial institutions can better prevent fraud and assist older victims.