A Big Win for Alabamians: House Bill 303 Becomes Law

AARP Alabama is proud to celebrate the passage of House Bill 303, a major step forward in strengthening protections for Alabamians—especially older adults—against financial fraud and exploitation. With bipartisan support from the Alabama Legislature and the signature of Governor Kay Ivey, this new law reinforces our state’s commitment to safeguarding hard‑earned savings and promoting financial security for all.

Financial exploitation remains one of the fastest‑growing threats facing older Americans. Scammers are increasingly sophisticated, often using fear, urgency, or deception to pressure victims into handing over money through hard‑to‑trace methods. One of the fastest‑growing scam tools in Alabama has been cryptocurrency kiosks—often called “crypto ATMs.” House Bill 303 directly addresses this growing threat.

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“Financial exploitation can devastate families and rob older Alabamians of their independence and peace of mind,” said Candi Williams, AARP Alabama State Director. “House Bill 303 gives our state stronger tools to detect fraud early and protect people before the damage is done. We’re grateful to lawmakers and the governor for standing up for Alabama consumers.”

What House Bill 303 Means for Alabamians

House Bill 303—also known as the Cryptocurrency Kiosk Fraud Prevention Act—creates clear, enforceable protections that help stop scams before irreversible financial harm occurs. The law focuses on prevention, transparency, and accountability, delivering meaningful benefits for consumers and families across the state.

Under the new law:

• Consumers will receive clear, upfront disclosures
  Cryptocurrency kiosk operators must clearly disclose fees, exchange rates, and key transaction terms before a transaction is completed, helping individuals better understand what they are agreeing to and avoid deceptive practices.
• Receipts are mandatory to improve transparency and investigations
  Customers must receive printed receipts for every transaction, and operators must also provide digital transaction records to the Alabama Securities Commission. These records are critical for detecting fraud patterns and supporting law enforcement investigations.
• Refunds are required for fraudulently induced transactions
  When fraud is identified, the law creates a path for victims to receive refunds in certain circumstances—an important protection that can help mitigate devastating financial losses.
• Fraud warnings and transaction limits are now required
  Crypto kiosks must display prominent fraud warnings to alert consumers to common scam tactics. The law also establishes transaction limits, preventing scammers from draining large sums of money in a short period of time—a tactic frequently used to wipe out life savings.
• Live, U.S.-based customer support is mandatory
  Operators must maintain a toll‑free, U.S.-based customer service line for consumers and establish a direct line of communication with local law enforcement and the Alabama Securities Commission. This ensures faster responses when suspicious activity occurs.
• Strong enforcement and penalties hold bad actors accountable
  The Alabama Securities Commission is empowered to enforce the law, with civil and criminal penalties for operators who fail to comply—ensuring the protections in HB 303 have real teeth.

Together, these safeguards create commonsense guardrails that reduce fraud, enhance oversight, and give consumers—and their families—greater peace of mind.