Senate Passes S. 5707-Adams Bill to Prevent Financial Crimes Against Seniors
SENATE PASSES ADAMS BILL TO PREVENT FINANCIAL CRIMES AGAINST BROOKLYN’S SENIORS
Bill would provide elderly with fraud safety net, create alert system to ID and prosecute schemes against seniors
(Brooklyn, NY – June 13, 2013) – The New York State Senate passed Senator Eric Adams’s bill (S. 5707) to prevent financial crimes against seniors Wednesday night, bringing Brooklyn one step closer to greatly improved fraud protections for its older population.
The bill would provide elderly consumers with a safety net when they are victimized, create an alert system so that evidence of fraud can be reported directly to law enforcement, and engage banks to identify and prevent financial schemes.
Financial abuse is the most common crime committed against seniors, and Brooklyn has one of the largest elderly populations in the country with more than 500,000 residents over the age of 60.
“The financial exploitation of seniors is a despicable crime that is unfortunately all-too common in Brooklyn and across New York,” said Senator Adams, Chairperson of the Senate’s Committee on Aging. “This bill would create a much stronger defense against elderly fraud schemes by giving law enforcement the tools it needs to better identify and prevent these crimes, and by providing victims with a safety net should they get swindled. I look forward to quick implementation of the law so that our seniors have all the protection they deserve.”
The Assembly version of the bill (A.7892) is still pending. Assemblymember Joan Millman, the Assembly’s Aging Chair, is the Assembly sponsor.