- A law that went into effect January first is expected to help cut down on the financial exploitation of seniors.
- It allows financial institutions to delay transactions if financial exploitation is suspected.
- Watch the video to learn more about the law and how local organizations are working towards the same goal.
BROADCAST TRANSCRIPT:
According to AARP, financial exploitation costs older Americans $28.3 billion every year. Neighbors are hoping that number for 2025 will be different, with the help of a new law. I’m Kenya Cardonne, your Southeast Tallahassee neighborhood reporter. I’m taking a closer look at the law as local organizations work towards the same goal of preventing financial exploitation.
David Hand, Neighbor – “Oh my gosh. There are so many scams out on the internet. It’s ridiculous.”
In 2023, the FBI says the average victim of elder fraud lost more than $33,000 to scams.
David Hand says he’s come across his fair share of fraud attempts online.
Hand – “It’s just horrible.”