SCAM Act Hearing: Tougher Penalties for Corporate Misconduct
New York City News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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New York Lawmakers Push for Tougher Penalties on Corporate Misconduct: The SCAM Act
Lawmakers in Albany are advocating for stricter penalties on corporate misconduct through the Securing Customer Assets against Malfeasance Act (SCAM Act). Sponsored by Brooklyn State Senator Zellnor Myrie, the bill aims to address the gap between New Yorks fraud laws and modern technology advancements. Myrie emphasized the need for stronger deterrents to protect everyday New Yorkers from financial losses due to corporate scams. The SCAM Act is expected to undergo further discussions, potentially leading to significant changes in the states approach to combating white-collar crimes.
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