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TRACED Act: Additional Protections Against Robocalls

Whether at home, work or on a cell phone, it’s a scenario many Americans have found themselves in: answering a phone call only to find out it’s from an unwanted robocaller.

In fact, the number of unwanted robocalls in this country has skyrocketed in recent years. The Federal Communications Commission (FCC) ranks unwanted robocalls highest on their list of consumer complaints.

TRACED Act

Fortunately, consumers have won additional protections against unwanted robocalls under recent legislation signed by President Trump, the Telephone Robocall Abuse Criminal Enforcement and Deterrence (TRACED) Act.

One of the main goals of the TRACED Act is to establish rules to protect consumers from receiving calls from unauthenticated numbers. Provisions of the TRACED Act include:

  • Requiring all carriers to implement new caller-ID technology at no additional charge to consumers
  • Extending the statute of limitations for prosecuting illegal robocallers
  • Allowing the FCC to go after first-time robocall offenders
  • Increasing penalties for robocall violations
  • Creating an interagency task force to study and improve the government prosecution of robocall violations
  • Establishing a neutral consortium of carriers that will lead efforts to trace back the origin of robocalls

If you pick up an unwanted robocall, hang up right away. Avoid answering “yes” or “no” questions, providing personal information, or pressing a number to “opt out,” since scammers often use these tricks to identify and target “live” respondents, resulting in additional calls.

Protecting Yourself from Unwanted Robocalls

Unfortunately, even with these new protections, it will take some time for all of the TRACED Act provisions to fully take effect. In the meantime, here are some things you can do to protect yourself:

  • Don’t answer calls when you don’t recognize the phone number. Instead, let them go to voicemail and check later to verify the caller.
  • Consider signing up for a robocall blocking service.
    • Many phone service providers now offer robocall blocking solutions at no additional charge.
    • You can also download additional robocall protection for free or minimal cost through a third-party app.
  • Register your phone number on the National Do Not Call (DNC) Registry, which removes your number from the call lists used by legitimate telemarketing companies.
    • Keep in mind that while registering with the DNC Registry will result in you getting fewer calls from legitimate telemarketers.
    • The registry won’t stop illegal robocallers from contacting you.

Before investing in a mutual fund, carefully consider the investment objectives, risks, charges, and expenses of the fund. This information can be found in the prospectus, which can be obtained from the fund. Read it carefully before investing. Diversification alone cannot guarantee a profit or ensure against the possibility of loss. All investing involves risk, including the potential loss of principal, and there can be no guarantee that any strategy will be successful.

Please remember that due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this commentary serves as the receipt of, or as a substitute for, personalized investment advice from Bogart Wealth. Bogart Wealth is neither a law firm nor a certified public accounting firm and no portion of the commentary content should be construed as legal or accounting advice. A copy of the Bogart Wealth’s current written disclosure Brochure discussing our advisory services and fees continues to remain available upon request. The content is derived from sources believed to be accurate. Neither the information presented nor any opinion expressed constitutes a solicitation for the ­purchase or sale of any security. This material was prepared by Broadridge Investor Communication Solutions, Inc.

IMPORTANT DISCLOSURE INFORMATION:

Please remember that past performance is no guarantee of future results.  Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by Bogart Wealth, LLC [“Bogart Wealth”]), or any non-investment related content, made reference to directly or indirectly in this blog will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful.  Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions.  Moreover, you should not assume that any discussion or information contained in this blog serves as the receipt of, or as a substitute for, personalized investment advice from Bogart Wealth. To the extent that a reader has any questions regarding the applicability of any specific issue discussed above to his/her individual situation, he/she is encouraged to consult with the professional advisor of his/her choosing. Bogart Wealth is neither a law firm nor a certified public accounting firm and no portion of the blog content should be construed as legal or accounting advice. A copy of the Bogart Wealth’s current written disclosure Brochure discussing our advisory services and fees is available for review upon request or at www.bogartwealth.comPlease Note: Bogart Wealth does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, whether linked to Bogart Wealth’s web site or blog or incorporated herein, and takes no responsibility for any such content. All such information is provided solely for convenience purposes only and all users thereof should be guided accordingly. Please Remember: If you are a Bogart Wealth client, please contact Bogart Wealth, in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing/evaluating/revising our previous recommendations and/or services, or if you would like to impose, add, or to modify any reasonable restrictions to our investment advisory services.  Unless, and until, you notify us, in writing, to the contrary, we shall continue to provide services as we do currently. Please Also Remember to advise us if you have not been receiving account statements (at least quarterly) from the account custodian.

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