Major tech companies unveil alliance to fight scammers

Digital companies from the dating app, financial services, social media and cryptocurrency industries revealed a new alliance Tuesday called Tech Against Scams to help in the fight against financial scams and Internet fraud that target consumers in various sectors.

Coinbase, Match Group (parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini and Global Anti-Scam Organization are prominent players in Tech Against Scams.

This coalition will serve as a focal point for member organizations to work together to combat technologies used by scammers, protect and educate consumers, and prevent the rapidly evolving financial scam industry.

The effort will involve disseminating best-in-class methodologies, threat assessments, and more vital data to protect consumers from cybercrimes, including “pig slaughter”-like romance and cryptocurrency frauds.

The program expands on a special partnership that Match Group, Coinbase and Meta launched last summer to combat cross-platform dangers like pig slaughter. Seeing the need for further industrial cooperation, these companies have now increased the number of partners in their efforts.

The alliance will take advantage of each company’s distinct advantages to better identify new scam trends, exchange practical tactics, and promote international user protection through group action.

Guy Rosen, Chief Information Security Officer at Meta, said: “The scammers and organized criminal groups behind pig slaughter schemes target people across many internet services, making it difficult for any company to see the full picture of malicious activity and count on each of them.” we work in silos.”

Coinbase Chief Security Officer Philip Martin highlights the need for business leaders to unite against the growing sophistication of fraud to keep consumers safe online. He added: “We are committed to tackling emerging online scams through collaboration, information sharing and better consumer education.”

By working together, Tech Against Scams hopes to make the Internet a safer place where people are better protected from falling for complex online fraud schemes.

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