Coinbase has teamed up with technology industry leaders to form a coalition to combat the growing number of online scams and illegal financial schemes. The Tech Against Scams community includes giants of the field such as Match Group, Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organization (GASO).
We’re proud to announce the Tech Against Scams coalition.
Scams are a tech-wide issue and require an industry-wide response. Together with industry leaders, we're committed to protecting and educating users.
Learn More→ https://t.co/3w8gfEUFZr pic.twitter.com/E1nGlT8lzi
— Coinbase ?️ (@coinbase) May 21, 2024
Tech Against Scam emphasizes the importance of collaborative efforts to combat fraud, which has become pervasive across platforms and industries. By combining resources and expertise, the companies hope to create a safer digital environment and increase consumer protection against rapidly evolving scams.
Coinbase Corporation stated: “Scams are not limited to social media, cryptocurrency, finance, or dating apps; they are a widespread issue across the tech landscape. Through this coalition, we aim to share insights, knowledge, and best practices to protect users and prevent scammers from exploiting them.”
The Tech Against Scams coalition will prioritize several key areas, including sharing threat intelligence, developing best practices, and educating users on these issues.
Coalition members will share information on tactics and tools used by scammers and collaboratively develop and update strategies to combat these schemes. Special emphasis will be placed on educating users in recognizing and preventing scam schemes using their funds.
Although blockchain transactions account for only 0.34% of illicit activity, the impact on victims can be significant. Coinbase emphasized that globally, consumers lose approximately $1.4 trillion annually to financial fraud. The coalition aims to reduce this number by raising awareness and improving safeguards.
“While Coinbase maintains a robust compliance program, no platform is immune to scams. It’s crucial for users to be vigilant and informed. By educating consumers and sharing resources, we can help prevent scams before they occur.” the exchange said.
Coinbase advises consumers to take precautions by downloading apps only from trusted sources, protecting their assets, avoiding transactions with unknown parties, consulting trusted friends and family about possible investments, and using trusted cryptocurrency wallets and exchanges. It’s also important to stay up to date on the latest scam tactics.
According to the FBI’s annual Internet Crime Report 2023, the American public recorded more than $12.5 billion dollars in losses from online fraud in 12 months. A portion of the stolen funds, namely $3.94 billion, came from cryptocurrency investment fraud cases.
The ultimate goal of the coalition is to create a safe and fair financial environment that ensures the growth of global economic freedom.
- Дополнительная информация о будущей деятельности Tech Against Scams: https://www.coinbase.com/blog/announcing-the-tech-against-scams-coalition
