Letters from Nearly 7,500 AARP NY Members and Others Dropped Off at Legislative Leaders’ Offices, Urging Them to Support Elder Fraud Bill

EN ESPAÑOL | NEW YORK — Letters from nearly 7,500 AARP members and other New Yorkers urging the leaders of the New York State Legislature to support legislation that would protect older adults from the growing financial exploitation crisis were delivered today to the leaders’ district offices.

The letters signed by people from across New York State were dropped off at the Yonkers office of Senate Majority Leader Andrea Stewart-Cousins and the Bronx office of Assembly Speaker Carl Heastie. (See photos below)

The letters urge the Legislature’s two most powerful lawmakers to back S.6379 and A.7019, sponsored by two Manhattan legislators who are the Aging Committee chairs for their respective chambers: Senator Cordell Cleare of Harlem and Assemblymember Rebecca A. Seawright of the Upper East Side.

Last month, the FBI released a report that found scams targeting New Yorkers age 60 and older resulted in over $257 million in financial losses by more than 6,200 victims in 2024, or nearly $30,000 per hour, up from $203 million stolen from 4,300 victims -- $23,000 per hour -- in 2023.

“The FBI and other law enforcement agencies report that older Americans are increasingly being targeted for financial fraud by scammers who are using advances in technology such as artificial intelligence to pull off schemes that can rob elder victims of their entire live savings,” AARP New York State Director Beth Finkel said. “The legislation championed by Senator Cleare and Assemblymember Seawright would add another layer of protection to ensure the financial security of older New Yorkers.”

The bill would require bank tellers and employees of financial institutions to identify signs of financial exploitation, allowing them to place a hold on a suspicious transaction and referring the matter to law enforcement for investigation.

AARP New York is urging Senate Majority Leader Andrea Stewart-Cousins and Assembly Speaker Carl Heastie to bring the legislation up for a vote before the 2025 legislative session ends in mid-June. Governor Hochul included elder financial fraud language in her Executive Budget proposal, but the Senate and Assembly failed to include it in the final state budget passed earlier this month.

“Our lawmakers still have time to pass this common-sense measure that will bolster the safeguards already in place to prevent scammers from getting away with the types of financial thefts that older victims typically have no opportunities for recovering,” Finkel added. “Older New Yorkers are the cornerstones of our communities and keeping them financially secure benefits everyone.”

Connect with AARP New York on X: @AARPNY, Facebook: AARP New York and LinkedIn: AARP New York

About AARP
AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.

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