Albany, NY – Assembly Member Rebecca A. Seawright, Chair of the Assembly Committee on Aging, announced today that the New York State Assembly has passed her legislation to establish a statewide public awareness campaign to help detect and prevent financial exploitation targeting older adults (A.8447A).

The bill directs the New York State Office for the Aging, in consultation with the New York State Department of Financial Services, to develop a comprehensive education campaign informing older adults, caregivers, and those with fiduciary responsibilities about common scams, warning signs of financial abuse, and available reporting and prevention resources.

“Financial exploitation is one of the fastest-growing forms of elder abuse, and far too many older New Yorkers fall victim to scams and fraud each year,” said Assembly Member Seawright. “This legislation will ensure that older adults and their loved ones have the information they need to recognize warning signs, prevent abuse, and connect with the resources available across New York State. As Chair of the Aging Committee, protecting the financial security and dignity of our seniors remains one of my top priorities.”

According to the AARP, adults aged 60 and older lose an estimated $28.3 billion annually nationwide due to financial exploitation.

Under the legislation, the public awareness campaign will provide information about the prevalence of elder financial exploitation in New York, common scams targeting seniors, risk factors and warning signs, reporting methods, and prevention strategies. It will also highlight the services offered through the state’s elder abuse enhanced multidisciplinary team program.

The bill now moves to the New York State Senate for consideration.