Scams are all over the internet, and AI is making it worse (no, Taylor Swift didn’t) gift Le Creuset pansand Tom Hanks did not promote dental plan). Now companies such as Match Group, Meta and Coinbase are starting up Anti-fraud technology, a new coalition focused on collaborating to prevent online fraud and financial schemes. They will “cooperate on ways to take action against the means used.” fraudsterseducate and protect consumers and stop fast-growing financial fraud.”
Meta, Coinbase, which owns Hinge and Tinder, and Match Group first joined forces on the matter last summer, but now the Global Anti-Scam Organization is joining additional digital, social media and cryptocurrency companies. The main focus of this coalition is pork butchering scams, a type of scam where a scammer tricks someone into giving them more and more money through trusted digital relationships that are both romantic and platonic in nature.
Tech Against Scams will also rely on the diverse capabilities of the web where each member lives to gain a more complete picture of threats and best practices. “Technology companies collaborating across sectors are critical to preventing criminal activity, ultimately helping online platforms to anticipate and develop effective solutions to various types of financial crime,” said Yoel Roth, Vice President of Trust and Security at Match Group. in the statement. “As we work to make it harder for fraudsters to trick people, we’ll continue to invest in new technologies to stop fraud and scams faster and get people the support and resources they need.”
