Gov. Kathy Hochul’s budget proposal includes training for bank employees to detect and report financial scams targeting older New Yorkers. State Police Superintendent Steven G. James supports the measure, citing a rise in sophisticated fraud schemes that cost seniors $203 million in 2023.
The plan would allow law enforcement to intervene before scammers access victims’ funds. While lawmakers back the initiative, it was left out of the Senate and Assembly budgets, possibly due to financial industry concerns. Advocates stress the urgency, as New York’s aging population grows and financial exploitation increases.
With over 3.5 million seniors in the state, advocates argue for greater investment in aging services. The measure could be included in the final budget, as discussions between Hochul and lawmakers continue.
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