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Crypto Kiosk Fraud In New York

AARP

Updated November 02, 2026

Close framing emphasizes cash preparation before a crypto ATM transaction.

Fraud and scams are surging and older New Yorkers are paying the price. Criminals are stealing millions from hard working people, wiping out their savings and leaving victims to cope with the financial and emotional consequences for years to come.

An evolving way that scammers have been targeting older people has been through cryptocurrency kiosks, sometimes known as crypto ATMs. They are an increasingly popular tool that criminals use in fraud schemes, as the transactions typically move quickly into overseas exchanges that don’t have to comply with U.S. laws. Often resembling traditional ATMs, the machines allow users to convert cash into digital currency and are commonly found in supermarkets, bars, pharmacies, convenience stores and other businesses.

Older New Yorkers are often targeted for these types of scams because they are more likely to have savings, retirement accounts, and home equity that they’ve been building after a lifetime of hard work.

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Legislation in New York

AARP New York is fighting for laws that protect Americans’ hard-earned money from fraud. 92% of older Americans think laws designed to protect consumers from crypto-kiosk-related fraud and scams are important. According to the FBI, in 2025 New Yorkers reported losing over $593 million to cryptocurrency related scams, higher than seen in prior years.

More than 30 other states already have legislation in place to address these concerns. AARP New York has been pressing for stronger safeguards around crypto kiosks/ATMs as these machines have become more prevalent. S.9891 (Sanders)/A.10899 (Vanel), would strengthen protections for consumers and help address the risks associated with crypto kiosks/ATMs.

The bill would strengthen consumer protections by requiring crypto kiosks/ATMs to be licensed and regulated by the Department of Financial Services, capping fees, establishing refund rights for fraudulent transactions, and requiring clear scam warnings and fee disclosures.

In 2026, this bill has been passed by the New York Senate but did not make it through the Assembly.

How You Can Take Action

Tell your lawmakers to protect the hard-earned financial security of older New Yorkers and strengthen safeguards against criminals who use crypto kiosks/ATMs to steal their money.