“More often, senior consumers are becoming targets of financial scams,” said Sen. Lanane. “We need to ensure that our senior citizens are protected from these fraudulent claims and a lifetime of investment remains secure.”

Senate Bill (SB) 382 creates the Senior Consumer Protection Act, which provides that financial exploitation of senior citizens includes control over properties or illegal misuse of assets through fraud, extortion or intimidation. Individuals who commit these acts would have their assets frozen, be issued an injunction and have to pay investigation or prosecution costs. The bill would also authorizes the involvement of the Indiana Attorney General in seeking means to protect seniors from dissipation of assets.

The bill would also increase civil penalty costs from $50 to up to $5,000 per violation. Violations of trust, including spouses, children and attorneys, would result in stiffer penalties.

SB 382 is an effort in collaboration with Indiana Attorney General Greg Zoeller and protects those 60 years and older.

After unanimously passing out of committee, SB 382 now moves to the full Senate consideration before progressing to the House of Representatives.

Sen. Lanane represents Indiana Senate District 25 includes the portions of Madison and Delaware counties, including the City of Muncie and the southeastern portion of the City of Anderson. For more information on Sen. Lanane, his legislative agenda or other State Senate business call 1-800-382-9467 or visit www.IN.gov/S25 .

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 NOTE: A photo of Sen. Tim Lanane can be downloaded at http://www.in.gov/legislative/senate_democrats/images/headshots/Lanane.JPG