![Senator Headshot](/sites/default/files/styles/4_3_small/public/hs_3.jpg?itok=FmVQFHul)
Senate Passes Deputy Leader Gianaris’ Legislation Protecting New Yorkers From Financial Scams
January 19, 2023
![](/sites/default/files/styles/760x377/public/press-release/main-image/01-10-23_500-06-006.jpg?itok=pI03u9x2)
ALBANY, N.Y. – Senate Deputy Leader Michael Gianaris announced the State Senate passed his legislation (S.177) to protect New Yorkers against financial fraud. Senator Gianaris’ bill requires money transmitters – like banks, wire services, and apps – to provide consumers with a warning before transferring money.
"Whether salacious crimes ripped from the headlines or frauds perpetrated on a daily basis against our seniors, financial scams are all too prevalent,” said Senate Deputy Leader Michael Gianaris. “New Yorkers deserve the strongest protections against these predators and my legislation would present a strong defense to keep consumers and their wallets safe. I am pleased the Senate is passing this bill."
According to the Federal Trade Commission, more than 56,000 Americans reported losing over $547 million in romance scams in 2021. Senator Gianaris’ legislation will require financial institutions to provide a warning to customers of the danger of consumer fraud when transferring funds.
related legislation
Share this Article or Press Release
Newsroom
Go to NewsroomEnd Jew-hatred rallies against systemic antisemitism at CUNY
September 15, 2023
![Activist Lizzy Savetsky at the End Jew Hatred protest at CUNY. September 12th, 2023. Activist Lizzy Savetsky at the End Jew Hatred protest at CUNY. September 12th, 2023.](/sites/default/files/styles/760x377/public/2023/10/05/end-jew-hatred.png?itok=eyXpoKH_)
A soulful ceremony on Sept. 11 in Oyster Bay
September 15, 2023
![Sen. Jack Martins, second from left, hosted the Sept. 11 ceremony in the hamlet, which included members of local fire departments and veterans. Sen. Jack Martins, second from left, hosted the Sept. 11 ceremony in the hamlet, which included members of local fire departments and veterans.](/sites/default/files/styles/760x377/public/2023/10/05/9_11_memorial.jpeg?itok=JBjmWIWk)