Op-ed | Social media giants need to crack down on scammers or they'll pay a big price in New York | amNewYork

Scams are becoming more sophisticated and operate like organized criminal groups with significant help from artificial intelligence. Social media companies generate billions by supplying scammers with information and ad space used to target people. State lawmakers report constituents being harmed by increasingly complex schemes, including cryptocurrency investment lures, fake law enforcement ads that lead to additional losses, and AI-generated phone calls that impersonate family members. Many scams originate on social media platforms including Facebook, Instagram, and WhatsApp. These platforms know users’ viewing, liking, and searching behavior and sell access to that data. Scammers can exploit sensitive personal details, such as a family member’s cancer diagnosis, to deliver debunked medical advice and fake cures, often after obtaining Social Security, Medicare, and bank information.

"Scammers are getting far more sophisticated, operating more like organized criminal groups with significant help from artificial intelligence. And to do it, they're relying on social media companies that are raking in billions by providing scammers with the information and ad space needed to target you. Everyone agrees we must stop the criminals conducting these scams, but to really address the crisis, we have to go after the source: social media companies that are letting New Yorkers get hurt."

"As state lawmakers, we hear every day from constituents who are falling victim to increasingly complex and tailored schemes that could happen to anyone: Russian-speaking Brooklyn immigrants lured into cryptocurrency investment scams; a Long Islander who clicked on what they thought was a legitimate law enforcement ad only to lose thousands more trying to recover money stolen in a previous scam; or a grandparent who heard their family member's voice only to realize it was an AI-generated phone call attempt to get their money."

"Many of these scams originate on social media platforms led by Meta's Facebook, Instagram, and WhatsApp which are actively partnering with scammers to rip you off. It's hardly a fair fight. Social media companies know what you watch, like and search for, and they sell access to that data so scammers can use it against you. Here's an example: the platforms know your family member is battling cancer, so they sell that information to scammers, who then inundate your relatives with debunked medical advice and promises to cure them with fake medicines."

"Just provide a Social Security number, Medicare number, and bank account and their life savings have disappeared. Many of these scams originate on social media platforms led by Meta's Facebook, Instagram, and WhatsApp which are actively partnering with scammers to rip you off, according to state Sen. Leroy Comrie and Assembly Member Clyde Vanel."

Read at www.amny.com