JPMorgan to host seminars to help avoid scams
Workshop aims to help the public understand and protect themselves from fraud and scams, JPMorgan Chase said on Monday (November 17) Press release.
“These workshops are one component of Chase's multi-layered approach to fraud and fraud prevention,” the bank said in a news release. “Chase invests billions of dollars each year in cutting-edge technology and strategies to safeguard the financial well-being of its customers.”
J.P. Morgan’s efforts in the following areas Safety Includes technology to detect suspicious activity and then provide customers with in-app warnings or stop payments; security features that allow customers to designate a trusted contact who can receive notifications about certain transactions on customer accounts; and work with law enforcement to share insights and trends, according to the release.
In addition, JPMorgan Chase has a dedicated Fraud Blocking Team that can contact customers in real time to stop scams; maintains an Elderly and Vulnerable Team to help seniors and vulnerable people who may be victims of financial abuse; and Chase bankers are constantly informed of the latest trends in fraud, according to the press release.
Jennifer RobertsChase Consumer Bank CEO said in a press release that banks, technology companies, social media platforms and Law enforcement has a role to play in protecting consumers from fraud and scams.
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“At JPMorgan Chase, we lead by example and continue to invest in new solutions, but we’re calling on the entire industry to join us in making it harder for criminals to exploit our communities,” Roberts said.
PYMNTS Intelligence Report”The State of Fraud and Financial Crime in the United States 2024: What Financial Institutions Need to Know” Scammers were found to be using more A sophisticated tool to deceive consumers And that one Financial institutions are leveraging their own advanced tools to combat these attacks.
The report also found that 40% of financial institutions reported an increase in fraud-related dollar losses over the past 12 months.
FBI Cybercrime Complaint Center IC3 (IC3) said in April that reported cyber and fraud-related losses would reach $16.6 billion in 2024, a 33% increase from 2023. IC3 explain The figures may not reflect the true scale of damage because many incidents go unreported.
