Salazar, Casten Introduce Bipartisan Bill to Protect Seniors from Financial Fraud and Crypto ATM Scams

WASHINGTON, D.C. - Today, U.S. Representatives María Elvira Salazar (R-FL-27) and Sean Casten (D-IL-06) introduced the Stop Crypto ATM Scams Act, bipartisan legislation to strengthen consumer protections, combat fraud, and help ensure that criminals using cryptocurrency ATMs to target seniors and other vulnerable Americans are held accountable.

According to the FBI, Americans lost more than $333 million to crypto ATM scams in 2025, a 33 percent increase from the previous year. Older Americans are disproportionately affected. In reported cases where a victim's age was known, individuals age 60 and older accounted for more than 85 percent of losses linked to crypto ATM fraud.

The Stop Crypto ATM Scams Act would establish new safeguards to help prevent fraud, strengthen transparency requirements for crypto ATM operators, and provide law enforcement with additional tools to investigate and stop these scams.

"In South Florida, I have seen firsthand the devastating impact financial scams can have on seniors and their families. America's seniors spent a lifetime working, saving, and planning for retirement. They should not have to worry about criminals using new technologies to steal what they worked so hard to build," said Rep. Salazar. "The Stop Crypto ATM Scams Act will strengthen safeguards against fraud, give law enforcement the tools they need to fight back, and provide consumers with clearer warnings and stronger protections before they become victims. We have a responsibility to protect our seniors and hold those who prey on them accountable."

"My constituents have lost devastating sums of money to crypto-enabled fraud. Local banks and credit unions in my community are doing everything within their limited authority to stop these scams before they happen," said Rep. Sean Casten. "Crypto ATMs offer criminals a quick and easy way to prey on seniors and steal their hard-earned money. Congress can address these abuses by requiring enhanced consumer protections, mandating clear scam warnings and robust disclosures, and applying the same anti-money laundering rules and fraud prevention measures that other crypto firms, banks, and credit unions must comply with. This bill builds on strong action taken at the state level, including in Illinois, to crack down on crypto ATM scams."

South Florida is home to one of the nation's largest senior populations, making the region particularly vulnerable to financial scams targeting older Americans.

More than 30,000 crypto ATMs operate nationwide in locations such as gas stations, convenience stores, and shopping centers. While these machines provide legitimate services, scammers increasingly use them to facilitate fraudulent transactions that are difficult to trace and nearly impossible to reverse. Criminals often impersonate banks, government agencies, law enforcement officials, or trusted institutions and pressure victims into transferring funds through cryptocurrency ATMs.

The Stop Crypto ATM Scams Act Would:

• Strengthen Anti-Money Laundering Compliance: Require crypto ATM operators to implement written anti-money laundering programs, conduct customer due diligence, report suspicious activity, and maintain updated records of kiosk locations.
• Establish New Transaction Limits: Limit new customers to $2,000 in daily transactions and $10,000 in total deposits during their first 14 days of use, while limiting existing customers to $7,500 in daily transactions.
• Require Scam Warnings and Anti-Fraud Protections: Require operators to provide clear scam warnings, fraud alerts, and consumer disclosures before transactions are completed.
• Support Law Enforcement Investigations: Require detailed transaction records, customer receipts, live customer service, and dedicated law enforcement contacts to help investigate fraud and hold criminals accountable.
• Increase Transparency and Consumer Protections: Require operators to clearly disclose fees and cryptocurrency pricing information, including market price references, and provide timely refunds of charges collected on fraudulent transactions.
• Preserve State Authority: Establish a federal standard for transaction limits while preserving states' ability to adopt additional consumer protections and safeguards against financial fraud.

For more information on the Stop Crypto ATM Scams Act, click here for the bill text and here for a one-page summary.

Rep. Salazar's Record for Seniors

Supporting seniors and protecting their financial security have been longstanding priorities for Rep. Salazar.

In South Florida, she has secured more than $4.5 million for senior-focused community projects, including $3.5 million for the Flagler Affordable Senior Housing project in the City of Miami and $1 million for a Senior Activity Center in West Miami.

In Congress, Rep. Salazar has championed bipartisan efforts to strengthen retirement security for family caregivers. Earlier this year, she introduced the Improving Retirement Security for Family Caregivers Act and the Catching Up Family Caregivers Act, legislation designed to help family caregivers continue saving for retirement while caring for loved ones.

She also helped introduce legislation to establish a Permanent Select Committee on Aging in the House of Representatives, ensuring Congress remains focused on issues affecting older Americans, including retirement security, healthcare access, elder abuse, and financial exploitation.

The Stop Crypto ATM Scams Act builds on those efforts by helping protect seniors from one of the fastest-growing forms of financial fraud and safeguarding the savings they spent a lifetime earning.