HARRISBURG — Sen. Chris Gebhard (R-48) announced the passage of legislation he introduced to update Pennsylvania’s Older Adult Protective Services Act to better protect seniors from financial abuse and scams.
“Older Pennsylvanians are among our most vulnerable citizens, and we have seen an alarming rise in financial exploitation targeting them,” said Gebhard. “This bill aims to improve and streamline reporting and empower financial institutions to help prevent scams committed against seniors before they happen.”
“Protecting older Pennsylvanians means giving those who interact with seniors every day the tools to act before a scammer takes seniors’ hard-earned money. Senate Bill 738 strengthens our ability to prevent financial exploitation and protect seniors from becoming victims,” Pennsylvania Attorney General Dave Sunday said. “I commend Sen. Gebhard and the members who supported this legislation and look forward to seeing it pass the House and reach the governor’s desk.”
The FBI ranked Pennsylvania ninth in total losses to fraud experienced by older adults in 2025. More than 7,000 seniors were defrauded of more than $200 million, representing a 43% jump from 2024.
Senate Bill 738 would require financial institutions to report suspected cases of elder financial abuse and empower the institutions to hold suspicious financial transactions. An employee, such as a teller, would be required to report to a designated representative of the institution about suspected fraud within two business days. The institution then would have five business days to report this transaction to the appropriate area agency on aging. Similar legislation has been passed in more than 20 states and has been used as an effective tool to prevent fraud.
The state Department of Aging will also begin issuing findings on the total number of reports, values of the fraudulent transactions and results of the investigations. This tracking will help ensure this program is working as it was intended.
“Our nightly newscasts and newspapers are filled with reports of individuals who have lost substantial portions of their life savings to deceptive scammers and dishonest fraudsters,” Gebhard said. “It is my hope the House urgently takes up Senate Bill 738 so we can ensure our seniors can age with the dignity and financial security they deserve.”