ALBANY — The state could soon begin training bank employees to spot financial scams targeting older residents, a safeguard that advocates say would prevent vulnerable New Yorkers from being siphoned of millions of dollars every year.
A proposal in Gov. Kathy Hochul’s executive budget would require bank tellers and other employees to undergo special training to identify victims of financial fraud, then flag and report suspicious transactions to law enforcement to prevent them from turning over funds to unscrupulous scammers.
It’s backed by the state’s top law enforcement official, State Police Superintendent Steven G. James, who on Tuesday said the measure is “badly needed” and said law enforcement agencies have noted an increase in that type of criminal activity in recent years. He cited increasingly sophisticated financial schemes that target older New Yorkers through a variety of fraudulent methods…