New York, NY – Assembly Member Rebecca A. Seawright, Chair of the Assembly Standing Committee on Aging, today led and coordinated a joint public hearing with the Committees on Banks and Children and Families to examine the growing crisis of elder financial exploitation and the role of Adult Protective Services (APS) in protecting older New Yorkers.

The hearing brought together advocates, service providers, and government officials to assess the state’s response to financial crimes against seniors and identify legislative solutions.

“Older New Yorkers are not only the foundation of our families and communities – they are also major contributors to our state economy,” said Chair Seawright. “Seniors have spent decades working, paying taxes, and investing in this state. It is unacceptable that after a lifetime of contribution, so many are now at risk of being financially exploited.” According to the Federal Bureau of Investigation, more than 6,200 older New Yorkers reported financial crimes last year, resulting in over $257 million in losses. Experts told the committees that expanding technology and artificial intelligence have fueled increasingly complex scams targeting seniors.

Chair Seawright focused the hearing on protecting older adults by coordinating investigations, connecting victims with support, and working with law enforcement, legal services, and financial institutions to stop abuse.

Seawright added, “Older adults continue to contribute billions in taxes through income, property, sales, and local revenues. Protecting their financial well-being protects our state’s economic future.”

Witnesses testified on understaffing at APS offices, gaps in reporting systems, the impact of AI-driven scams, and the urgent need for greater outreach and education.

Chair Seawright and the participating committees will review testimony and pursue legislative and budgetary proposals to strengthen APS services and expand protection for older New Yorkers.