Lawmakers, Advocates Urge Albany To Crack Down on Social Media Scams Costing NYers Billions

ALBANY, NY (05/13/2026) (readMedia)-- Today New York State Senators Leroy Comrie and Andrew Gounardes, Assemblywoman Larinda Hooks, consumer advocates, and victims of online scams held a press conference at the Capitol to call for passage of the Fraudulent Social Media Advertising Prevention Act (S.8605/A.11066) - legislation designed to hold social media companies accountable for fraudulent advertisements on their platforms. The event comes just days after a new report from the Center for Countering Digital Hate (CCDH) finds Meta allowed repeat scammers to target seniors millions of times with fraudulent ads, and follows extensive reporting into how social media companies are raking in billions by serving scam ads to users.

Watch a recording of the event here.

View images from the event here.

Read the new CCDH report here.

"Social media companies cannot continue profiting off scams while vulnerable New Yorkers are left to deal with the financial and emotional devastation that follows. From seniors targeted through fraudulent Medicare advertisements to families misled by fake investment opportunities and deceptive online schemes, these platforms have a responsibility to do more. My legislation, S.8605, would require social media platforms to verify advertisers, establish systems for users to report fraudulent advertisements, and strengthen accountability for platforms facilitating scam ads on their sites. New Yorkers deserve a safer online marketplace where consumers are not being exploited for corporate profit," said New York State Senate sponsor Leroy Comrie.

"Too many New Yorkers are falling victim to fraudulent advertisements on social media that are designed to deceive, exploit and steal from hardworking families. The Fraudulent Social Media Advertising Prevention Act will hold social media platforms to a higher standard of due diligence, fast removal of harmful content, and greater transparency for all users. As technology and digital advertising continue to evolve, we must continue to adapt our laws to ensure New Yorkers can engage online safely," said Assembly sponsor Clyde Vanel.

During the event, Senator Comrie and impacted New Yorkers shared their personal experiences being scammed online, and the Center for Countering Digital Hate (CCDH) unveiled findings of a new investigation into Medicare scams on Meta.

Online scams and fraud are surging - enriching social media platforms and criminal networks at the expense of New Yorkers. The FBI's Internet Crime Complaint Center Report found that New Yorkers filed 45,255 scam reports with $1.23 billion in losses from internet scams in 2025, ranking fourth highest among all states. Factoring in under-reporting patterns, the Consumer Federation of America (CFA) finds the true cost of scams is over seven times higher than the reported figures from authorities - costing New Yorkers $6.5 billion to scams in 2024. That's about $325 per New Yorker lost to scams.

"With CCDH's recent report, we finally have clear evidence that Meta is doing business with scammers preying on older Americans, providing them with a sophisticated advertising platform that helps them identify and access potential victims. This is a business model that puts revenue ahead of the wellbeing of American seniors," said Imran Ahmed, CEO and founder of CCDH. "This bill holds platforms to basic obligations to ensure ads are not scams. And when they fail to take those reasonable steps, the bill gives victims a pathway to justice. New York has the opportunity to lead and be the first in the nation to truly stand up for its seniors online. I am thankful to Senator Comrie and Assemblymember Vanel for their leadership on this issue and urge lawmakers to take this opportunity to stand up for their constituents."

Instead of cracking down on fraudulent ads, social media companies are profiting from them:

• Reuters reported that internal Meta documents projected roughly 10 percent of its 2024 revenue - about $16 billion - would come from ads promoting scams and banned goods. The investigation also reported that Meta directed its own staff not to take action that would threaten more than 0.15 percent of the company's revenue.
• According to The New York Times, Meta allowed scammers to run over 150,000 political advertising scams involving deepfakes and misleading paid content, which earned the company over $49 million over a seven year period.
• The Wall Street Journal reported that Meta, which the article called, "a cornerstone of the internet fraud economy," allows suspicious advertisers to accrue up to 32 automated 'strikes' for financial fraud before it bans their accounts.

The Fraudulent Social Media Advertising Prevention Act would protect New Yorkers by requiring social media platforms to verify advertisers on their platforms, provide systems for users to flag scam advertisements, and hold them liable for facilitating scams and fraud in advertisements on their platforms.