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AARP New York and Lawmakers Move to Crack Down on Crypto Kiosk Scams Costing Older New Yorkers Millions

Bills S.9891 (Sanders) / A.10899 (Vanel) would establish stronger consumer protections, fraud prevention measures, and oversight for cryptocurrency kiosks

AARP

Published May 06, 2026

photo illustration with computer circuitry and the word crypto

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Albany, NY - At a press conference today, AARP New York announced support for S.9891 (Sanders) / A.10899 (Vanel), legislation that would strengthen safeguards around cryptocurrency kiosks: machines that resemble bank ATMs and are used by criminals to get money from unsuspecting victims.

Criminals, including international organized crime rings, target older individuals and direct them to use crypto kiosks for payments. According to FTC data, people aged 60 and over are more than three times as likely as younger adults to report losses using crypto kiosks, and older adults account for more than two-thirds of all reported dollars lost to this type of fraud.

According to a 2024 FBI IC3 report they received 10,956+ complaints involving crypto kiosks, with approximately $246.7 million in losses nationwide. The FTC also found, based on consumer reports, that kiosk related fraud losses have skyrocketed. In New York, the FBI reported 437 complaints in 2024, totaling $4.8 million in losses, with an average loss of $10,937.

“Cryptocurrency kiosks may look like familiar ATMs, but for some New Yorkers they’ve become a fast track to financial loss. Scammers are weaponizing these machines to steal life savings in a matter of minutes,” said Beth Finkel, State Director of AARP New York. “This legislation is a critical step toward preventing fraud, increasing accountability, and protecting older New Yorkers and all consumers from financial exploitation.”

AARP New York supports this legislation as a response to a rapidly growing fraud trend in which criminals use fear and urgency to coerce individuals into making irreversible transactions.

Cryptocurrency kiosks have quickly spread to everyday locations like supermarkets, convenience stores, gas stations, and pharmacies. Criminals, often posing as government officials or businesses, convince individuals that an urgent financial issue requires action. They are directed to withdraw large sums of cash from their bank and deposit it into a crypto kiosk. The money is then transferred to a digital wallet controlled by the criminal and the money is gone.

These measures aim to curb misuse, enhance transparency, and prevent criminals from exploiting these machines to steal from New Yorkers, especially vulnerable older adults.

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State Senator James Sanders Jr., Chair of the Senate Banking Committee, said: “The rise of cryptocurrency kiosks across New York has created new risks for consumers, especially older adults who are too often targeted by scams. As the Senate Chief Sponsor of S.9891, this legislation is designed to bring greater oversight, transparency, and accountability to this rapidly-expanding industry so New Yorkers are not left vulnerable to predatory practices. AARP's support for this bill underscores just how urgent this issue has become. By working together with advocates, regulators, and community partners, we can ensure that innovation does not come at the expense of public safety.”

Assemblyman Clyde Vanel, Chair of the Assembly Banking Committee, said: “Too many older New Yorkers are being targeted and losing their hard-earned savings through cryptocurrency kiosk scams that have been debilitating. I’ve seen how financially and emotionally devastating these losses can be for individuals and their families. That’s why I’m proud to support legislation that strengthens protections, increases transparency, and helps stop these scams before they happen. We have a responsibility to protect our communities and make sure New Yorkers feel safe when it comes to their finances.”

State Senator Cordell Cleare, Chair of the Senate Aging Committee, stated: "It honestly breaks my heart that each advance in technology seems to bring with it the opportunity for purely evil people to take advantage of our beloved Older New Yorkers. However, with leaders like Senator Sanders, Assemblyman Vanel and AARP and our Crypto Kiosk Oversight Bill we will ensure the strictest of standards and the greatest of protections—which is exactly what our Older New Yorkers deserve. It is time for New York State to put a priority on time, funding, effort and resources that will STOP EVERY SCAM and instead empower our Seniors to live in freedom and dignity."

Assembly Member Rebecca A. Seawright, Chair of the Assembly Aging Committee, said: “Cryptocurrency fraud is one of the fastest-growing threats facing Americans today, with hundreds of millions of dollars stolen and older adults disproportionately targeted. As Chair of the Assembly Committee on Aging, I find it unacceptable that over 85% of those defrauded are adults aged 60 and older. We must act decisively to protect older New Yorkers from these scams, and I am proud to co-sponsor legislation that strengthens safeguards and helps prevent elder financial exploitation,"

Connect with AARP New York on X: @AARPNY and Facebook: AARP New York

About AARP

AARP is the nation's largest nonprofit, nonpartisan organization dedicated to empowering Americans 50 and older to choose how they live as they age. With a nationwide presence, AARP strengthens communities and advocates for what matters most to the more than 100 million Americans 50-plus and their families: health security, financial stability and personal fulfillment. AARP also works for individuals in the marketplace by sparking new solutions and allowing carefully chosen, high-quality products and services to carry the AARP name. As a trusted source for news and information, AARP produces the nation's largest circulation publications, AARP The Magazine and AARP Bulletin. To learn more, visit www.aarp.org/about-aarp/, www.aarp.org/español or follow @AARP, @AARPenEspañol and @AARPadvocates on social media.

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