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Senate hearing spotlights rising financial exploitation of older adults; Guard Act and tech-driven scams central to discussion
Summary
Prosecutors, AARP and advocates warned senators about rising cryptocurrency, AI and deepfake scams targeting older adults and backed the Guard Act, a bipartisan bill intended to strengthen local law enforcement tools and training to combat modern financial fraud.
At the Senate Special Committee on Aging hearing, witnesses described an evolving landscape of financial exploitation that increasingly uses cryptocurrency, AI-generated voices and deepfakes to target older adults. Nelson Bunn, executive director of the National District Attorneys Association, told the committee that digital scams have grown sharply and prosecutors must have flexible tools to keep pace. “One of the most prevalent means to exploit older adults is through financial scams,” Bunn said, adding that the FBI Internet Crime Complaint Center reported large annual losses to elder-targeted scams. Ranking Member Kirsten Gillibrand…
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