Senator Gillibrand Introduces Guard Act to Combat Elder Financial Abuse

July 30, 2025 | Aging (Special), Special, Select and Other Committees - House & Senate, Congressional Hearings Compilation


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Senator Gillibrand Introduces Guard Act to Combat Elder Financial Abuse
In a recent meeting of the U.S. Aging (Special) Committee, discussions centered on the pressing issue of elder abuse and neglect, highlighting the urgent need for enhanced protective measures for older adults. Ranking Member Kirsten Gillibrand opened the session by emphasizing the alarming statistic that only one in 24 cases of elder abuse is reported, indicating a widespread problem that often goes unnoticed.

Gillibrand pointed out that elder abuse affects many seniors, particularly in long-term care settings, and stressed the importance of strengthening existing systems designed to combat this issue. These systems, which include the Administration for Community Living and various protective services, are crucial for safeguarding vulnerable populations. As Congress considers reauthorizing the Older Americans Act, Gillibrand urged that these essential programs remain intact to support seniors who rely on them.

A significant focus of the meeting was the evolving nature of financial abuse, particularly as it relates to new technologies such as cryptocurrency and artificial intelligence. In 2024, older Americans were notably impacted by cryptocurrency fraud, with losses exceeding $2.8 billion. To address this growing concern, Gillibrand announced the introduction of the bipartisan Guard Act, aimed at equipping law enforcement with the necessary tools to combat financial fraud targeting seniors.

The committee also heard from various experts who provided insights into how law enforcement and community programs can collaborate more effectively to prevent elder abuse. The discussions underscored the need for innovative approaches to reinforce defenses against this serious issue.

In conclusion, the meeting highlighted the critical importance of addressing elder abuse and neglect through legislative action and community support. As the committee moves forward, the anticipated implementation of the Guard Act and continued advocacy for protective services will be vital in safeguarding the well-being of older Americans.

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