(Media release from the Georgia Senate Press Office):
Earlier this week, State Senator Chuck Hufstetler (R-Rome) held a press conference along with Secretary of State Brad Raffensperger to introduce Senate Bill 84. SB 84 would provide for financial protections, delay in disbursements and liability protections for elder and disabled adults who may be victims of financial exploitation. This bill would protect citizens who are mentally or physically disabled and citizens 65 and over.
Scams against elderly citizens have been on the rise in recent years and two of the most prevalent areas of scamming are health insurance/and the IRS. Scammers will target older citizens posing as insurance or tax representatives to try and convince them to give up their personal or financial information.
“This bill will give financial institutions a tool to be preemptive instead of waiting until after the fact when the money may be gone,” Said Sen. Hufstetler. “It will ensure that financial advisers have the tools to stop scammers from exploiting our senior citizens. Other states have laws already in place to help their senior citizens and it is time for Georgia to do what they can to help its senior citizens.”
Raffensperger also added that legislation is needed to protect senior citizens, especially after the COVID-19 pandemic. “The COVID pandemic helped to spur on the rapid increase as we saw many people isolated from their support systems and under a tremendous financial strain and worry along with a fast adoption of banking technology,” said Raffensperger. “We are here to provide new advanced tools to prevent vulnerable seniors from becoming victims in the first place.”
Read the full text of the legislation here