Bartlesville Radio: The area’s best source for news, weather and sports!

The Oklahoma Legislature has officially decided grandma’s retirement account should probably stop doubling as a side hustle for internet scammers. New legislation authored by Jerry Alvord and signed into law will give banks and credit unions stronger tools to identify and report suspected financial exploitation involving vulnerable adults. Senate Bill 2067 removes barriers that previously slowed communication between financial institutions and agencies like the Department of Human Services, local district attorneys, and law enforcement. Under the new law, bank employees are required to report suspicious transactions internally and alert the proper authorities when something looks fishier than a gas station sushi tray at 2 a.m.

Alvord said scammers are increasingly targeting older adults, often convincing them to hand over money needed for essentials like food, rent, and medicine. The law also allows banks or credit unions to temporarily freeze suspicious accounts or contact a trusted person designated by the account holder. Institutions and employees acting in good faith will receive protection from civil or criminal liability. Looks like trying to stop criminals now requires legal reassurance for most financial institutions. The measure passed unanimously through both chambers before being carried in the House by Mark Lepak. Lepak pointed to alarming fraud numbers showing Oklahomans over 60 lost more than $50 million to scams in 2024 alone, proving once again that if criminals spent half this much effort getting actual jobs, we’d probably have a labor shortage solved by Friday. SB 2067 officially takes effect Nov. 1.