My legislation continues to move forward this session. This week, Senate Bill 98 and Senate Bill 99 were voted out of the Missouri Senate Insurance and Banking Committee. These important bills address the dramatic increase in fraud and scams plaguing citizens across the entire state of Missouri.
According to the FBI, fraud losses reported by Missourians increased by 111 percent from 2021 to 2023. In 2023, Missourians reportedly lost 123.4 million dollars. The national total was 12.5 billion dollars.
Senate Bill 98 creates a new provision within the criminal code that can be used by prosecuting attorneys to charge suspected criminals for financial institution accounts fraud not currently in statute.
Banks work diligently to educate their patrons on how to spot and prevent potential scams. Senate Bill 99 is intended to protect these customers by allowing them to designate a “trusted contact”. An account holder can designate a “trusted contact” whom the financial institution could contact to alert them of unusual activity or suspected fraud. This person could serve as a voice of reason for the customer.
I will keep you updated on both pieces of legislation as the 2025 session continues.
I am honored to serve as your senator in the Missouri Senate. If, at any time, you have questions, concerns or ideas regarding state government, please feel free to contact me at 573-751-8793 or Sandy.Crawford@senate.mo.gov.
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