NY Senator Kristen Gillibrand Announces New Legislation to Protect Seniors From Financial Scams

Every year, an estimated tens of thousands of seniors in New York are victims of financial scams and abuse, while scammers get away with very few consequences

Gillibrand will make fighting senior fraud a priority in the 115th Congress and help seniors get the tools and resources they need to fight back against financial fraud

U.S. Senator Kirsten Gillibrand today stood with seniors at the Crouse Community Center to announce the Senior Financial Empowerment Act, new legislation to protect seniors from financial fraud.

“Senior fraud is a destructive and dangerous crime, in which scammers prey on vulnerable citizens, steal their personal information, and harm them financially with very few consequences,” said Senator Gillibrand. “Under the current system, when seniors report these crimes, the information often isn’t shared with the proper authorities, and scammers are able to continue committing these crimes against other seniors. We need to do everything we can to prevent and fight back against senior fraud. This new legislation would give seniors the resources they need to be educated about this crime and tools to get help if they have been a victim of this crime.”

Every year, it is estimated that tens of thousands of seniors in New York are victims of financial scams and abuse. The Senior Financial Empowerment Act would ensure that seniors and their caregivers have critical information regarding financial abuse, standardize and improve the way elder financial abuse is reported, establish a national hotline that would advise seniors on where and how to report fraud, and provide more resources to combat financial exploitation of older adults before it happens.

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Gillibrand announces new legislation to protect seniors from financial scams