‘Larry’s Law’ set to protect Virginia’s vulnerable populations

by: Sam Graham

ROANOKE, Va. (WFXR) — “Larry’s Law” went into effect on July 1 and is designed to protect Virginia’s most vulnerable communities from financial exploitation.

While the law has gained a reputation for primarily protecting the elderly, it seeks to prevent scams from attacking any at-risk communities, including adults with disabilities and cognitive challenges.

Julie Wheeler, President of the Better Business Bureau for Western Virginia explains the evolution of technology and the trusting nature of many individuals living in the rural areas of Southwest Virginia raise concerns as a potential at-risk community.

“You’re in a part of the state where people tend to be trusting,” she said. “They tend to want to be nice.”

For the technology portion of concern, Delegate Michelle Maldonado (D-Manassas) brings up the rise of artificial intelligence.

“Our AI technology only needs a few seconds of your voice to be able to replicate proper intimation and pronunciation,” said Maldonado.

Maldonado sponsored the bill derived from the Senior Safe Act, naming it “Larry’s Law,” in honor of the late Larry Cook. He was a native of Herndon, Virginia, and a retired Navy submarine commander.

His family says Cook was robbed of over $3 million in a wire fraud scheme in 2021.

The law provides banks certain immunity to reach out to trusted contacts designated by the account holder when they suspect fraudulent activity. As it currently stands, some banks fail to contact relatives or loved ones for fear of litigation, while others are simply too small to dedicate the resources to tracking down additional contacts.

The introduction of an emergency contact was done in hopes of stifling scams before they get out of control. However, it has raised some concerns about overstepping the independence of these vulnerable individuals. In the end, Maldonado believes that while banks may occasionally misidentify fraud, that outweighs the consequences of failing to reach out when there is a scam at work.

“We have to make sure that we’re not taking away the independence, autonomy, and decision-making of our elders,” said Maldonado.

Many scammers prey on the fears of their victims by impersonating family members or government officials to fabricate situations that require urgent attention. Experts suggest establishing a code word with family members to pick out the real from the imaginary, but there are other potential solutions.

“If it sounds too good to be true or they are trying to scare you to death, chances are you need to step back, talk to someone else, and evaluate before you take any action,” said Wheeler.

Wheeler identified prize scams, investment fraud, and impersonating family members in need of help as popular forms of exploitation in Southwest Virginia.

According to Maldonado, the next goal for this type of legislation is to introduce a standard mandatory reporting process for financial institutions. As for Larry’s Law, the process of developing a standard guide for banks to report fraud is expected to be in place by January 1, 2026.

With that on the horizon, Maldonado has a message for those who steal from the vulnerable.

“We’re coming for you,” she said. “We see it and we know that things are getting more sophisticated. And we will do the work to protect our people.”

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‘Larry’s Law’ set to protect Virginia’s vulnerable populations