Enhances penalties for gift card fraud and fraud against persons over 60.
The SWIPES Act, or Saving Wallets and Increasing Penalties for Elder Scams Act, amends the federal criminal code to increase penalties for certain cases of gift card fraud. It also creates a new offense for knowingly committing fraud against individuals over the age of 60, with additional penalties for such offenses. The bill defines "covered felony violation" to include offenses related to gift cards and investment securities.
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