States Introduce Legislation to Combat Senior Fraud

As cyber fraud against seniors escalates, multiple U.S. states are taking legislative action to enhance protections against scams, particularly those targeting older citizens. Pennsylvania's House Bill 2064 aims to empower banks to block suspicious transactions, receiving bipartisan support, while Florida has enacted laws allowing financial institutions to delay transactions if fraud is suspected. Other states like California, Connecticut, Maine, and Delaware are also drafting similar legislation. In Texas, existing laws have led to a significant increase in reports of financial exploitation, yet advocates argue that more measures are necessary. Meanwhile, in the UK, Prime Minister Sir Keir Starmer announced the Fraud, Error and Debt Bill to combat benefits fraud by allowing officials to check claimants' bank accounts, sparking privacy concerns among campaigners. The multifaceted approaches reflect a growing urgency to protect vulnerable populations from financial exploitation across both the U.S. and the UK.