New York lawmakers are considering several bills that supporters say would strengthen consumer protections for seniors.
AARP data finds older New Yorkers lost more than $400 million to scams in 2025, a substantial increase from previous years. One bill, known as the CRYPTO Act, would slow down cryptocurrency purchases to help prevent people from being scammed.
Bill Ferris, legislative representative for AARP New York, said criminals are using cryptocurrency machines and bank accounts to steal from older adults.
“Criminals, organized crime from other countries are actually getting older persons to go to the machines, either to deposit money or use their bank accounts and buy crypto, and then it goes to the criminal’s account, and then the money is gone,” Ferris explained.
Federal Trade Commission data shows these kinds of scams are three times more likely to affect people over 60 than younger adults.
Ferris hopes the bill passes so consumer protection laws can keep up with advancing technology. The measure remains under review by the Senate Consumer Protection Committee with less than two weeks left in the legislative session.
Other legislation under consideration focuses on predatory pricing. The One Fair Price Act aims to ban online surveillance pricing in New York, while the Protecting Consumers and Jobs from Discriminatory Pricing Act would ban the practice in grocery stores and pharmacies.
Ferris stressed the tactic can be especially harmful to older adults.
“When someone goes online and purchases something, get their groceries or buy products online delivered to them at their houses — which a lot of older persons do because they can’t get out as much — some of these companies are using those purchasing patterns and charging more for that product,” Ferris pointed out.
Both bills have broad support among lawmakers and state officials, including New York Attorney General Letitia James. While most states are beginning to legislate the issue, Maryland is the only state with a statewide ban on surveillance pricing.
Source: Public News Service
