Aspen Institute launches program to fight online fraud and scams

We are proud to stand alongside public and private sector leaders in launching United We Stand—a first-of-its-kind national strategy to prevent scams and protect consumers. As a member of The Aspen Institute Financial Security Program’s National Task Force on Fraud and Scam Prevention, we’re committed to turning this strategy into action—through stronger collaboration, smarter reporting, and more effective enforcement. This unified roadmap shows how government and industry can work together to reduce fraud, modernize information sharing, and better safeguard the public. We’re honored to be part of this vital effort. 📘 Full report: https://lnkd.in/eid526Qd

📢 Anti-scam and fraud task force unveils first of its kind national #strategy Last week, the Aspen Institute unveiled the first coordinated national strategy to prevent #scams and combat #fraud with input from the private and public sectors. Despite an estimated 1 in 5 U.S. adults having lost money to online scams (leading to $158B in losses each year), the strategy is the first effort for a national plan with the goal to "deter criminals, disrupt scams in real time, and restore consumer trust in America’s financial, digital, and communications systems." Key recommendations from the task force include: 1️⃣ Congress and the White House should declare scam prevention a national priority. 2️⃣ Companies should work to strengthen system defenses and bolster #informationsharing across sectors. 3️⃣ Law enforcement should expand capabilities to recover assets, expand anti-scam intelligence capabilities, and coordinate across jurisdictions. 🔗National Strategy: https://lnkd.in/eCUqwgMC 🔗 Press release: https://lnkd.in/ePmhUmdZ

While you should leave ghost busting to the professionals, preventing fraud is something you can and should take action on and John Marshall Bank has plenty of tips to help you. Never give out your personal information to someone you don’t know, trust, and can’t verify, stay informed on current fraud trends, trust your gut, and much more. Scammers may not be made of slime or marshmallows, but with our tips you’ll be able to confidently say “I ain’t afraid of no scam.” Follow us at John Marshall Bank and visit the comments for all our scam busting fraud prevention tips. #localbusiness  #businessbanking #smallbusinessbanking #johnmarshallbank #communitybanking  #cybersecurtymonth2025 #fraud #fraudprevention #ghostbusters

🛡️ PSA: Protect Our Seniors from Online Fraud Today’s reminder is for one of our most vulnerable groups to fraud—our seniors. Before she passed, I used to share fraud prevention tips with my grandma, and she’d pass them along to her friends. It was our little "ripple effect" of protection. 🔍 Remind those close to you: - Trust your instincts—if something feels off, it probably is. - Be wary of sudden changes in tone or urgency in messages. - Question unexpected requests for money or sensitive information. - Verify the sender before clicking links or downloading attachments. - Don’t rush—fraudsters thrive on urgency and confusion. Stay curious, ask questions, and never hesitate to reach out for help. You’re not alone.

SCAM ALERT: The "Grandparent" Emergency Scam This is one of the most common and cruellest scams, driven by panic. Scammers call, pretending to be a grandchild or loved one in a dire situation, often claiming they have been arrested or are in a hospital. They create a sense of urgency to rush you into sending money before you can think critically. Research with fraud prevention experts confirms that the most powerful defence is to break the scammer's manufactured panic. The goal is to create a pause. Here are three simple steps to take back control if you receive a call like this: 1. HANG UP. This may feel rude, but it is the most effective first action you can take to protect yourself. 2. VERIFY INDEPENDENTLY. Immediately call your family member back on their usual phone number—the one saved in your contacts. 3. USE A SAFE WORD. Establish a secret family "safe word" that only your real family would know. If a caller doesn't know it, you know it's a scam. At ObserIQ, we focus on providing that critical "moment to think." Protecting our community starts with understanding that these scams prey on our love for our families, not our intelligence. Have you or your family members discussed a plan for handling suspicious calls?

Every single scam victim I've spoken to said, in the beginning, they thought it might be a scam. Yet they continued contact with the scammer. Why? Because scammers are master manipulators! They prey on people's vulnerabilities and emotional states. They know just what to say to get someone to get over their hesitations. Scammers understand basic psychology, which they use to manipulate victims into providing money or information. Scammers prey on loneliness, hope, and trust. They use deceptive, predatory tactics that include urgency and fear. When victims hesitate, these predators use manipulation tactics (like saying they will end up alone, injured, in jail, or dead if the victim doesn't give them money). They might also use or implied or direct threats to get what they want. And in romance scams, specifically, the predator's goal is to get the victim emotionally invested in a relationship. Once that emotional bond is made, it is very difficult to convince someone that they are being targeted by a scammer. When someone is in the midst of a scam, they might not see the red flags. Please check on your friends and family. Talk to them about scams and some of the tell-tale red flags. Talk to them about their relationships. If you see scam red flags in your life or someone else's, please tell someone. Please know that if you are being targeted or have been victimized by a scam, it is not your fault, and you are not alone. Anyone can be a victim. And there is a very large fraud prevention community that wants to help. #WorldRomanceScamPreventionDay #scamprevention #elderfraud

This year’s Scam Awareness campaign by Citizens Advice focuses on educating people about current scams and providing practical guidance on how to stay Scam Aware. According to UK Finance annual fraud report, there were 3.13 million confirmed cases of unauthorised fraud reported in 2024 (up 14% compared to 2023) and losses totalled £722 million in 2024 (up 2%). To help employees recognise and avoid scams, we have compiled key phrases often heard from scam victims. Find out more here https://shorturl.at/UKovL #ScamAware

Can You Spot a Scam Call Before It's Too Late? Do you know how to spot a scammer? This video helps with identifying scams, and provides advice on how to avoid scams. Learn fraud prevention techniques to protect yourself from falling victim to online scams or a phone scam. Be cautious when receiving unsolicited scam calls. 👉 Drop a comment: Which scam surprised you the most? Have you or someone you know almost fallen for one of these? 📌 Helpful resources: • FTC Scam Alerts: https://lnkd.in/gQPa5vUc • FBI Internet Crime Complaint Center (IC3): https://www.ic3.gov/ • AARP Fraud Watch Network: https://lnkd.in/gAHJScnP Resources: Work with Dr. Brad: www.YMWAdvisors.com Money Scripts® Self-Test: www.MoneyScripts.com 📚 Grab my bestselling book Start Thinking Rich here: https://amzn.to/45WBaYT #Scams #MoneyMindset #FinancialFreedom

Yesterday I was interviewed by the New York Times for 30 minutes for a fraud story! The link to the story is below. How did this come about? A while ago I posted about brokerage fraud, also known as ACATS fraud. This type of fraud is new and an emerging threat. It has the risk of victims losing their entire life savings in seconds. ACATS fraud is easy and faster than pig butchering scams. It occurs when a fraudster opens an account at brokerage firm using the name and other personal information of the victim. From this new account the fraudster can request to transfer brokerage assets from the victim’s real brokerage account. The only information the fraudster needs is the name of the brokerage firm and the account number. The brokerage firm will then transfer all the victims’ assets via the ACATS process into the new fake account. The fraudster never has to login to the victim’s real account. The fraudster can then then liquidate the assets and wire the proceeds anywhere they want. How do you protect yourself? 1) Never disclose your brokerage account number to anyone. It is the key to the castle. 2) If your brokerage supports "Transfer Locks" - enable it. Very few firms do. I hope this changes. 3) Make sure you have text alerts set up on your brokerage accounts for all transfers. NY Times article: https://lnkd.in/gifKPMkA #acatsfraud #fraud #sas #nytimes

Today, the City of London Police, as the National Lead Force for fraud, joined forces with public and private sector partners in London to mark World Romance Scam Prevention Day. With speakers from organisations including Bumble Inc., Ofcom, UK Finance, Barclays UK, and the Metropolitan Police, the event showcased the power of partnership in tackling deception that exploits trust, love, and vulnerability. The day also featured powerful testimony from survivors and campaigners. Hosted by the DateSafe team, a multi-agency working group led by the City of London Police that brings together law enforcement, tech platforms, financial institutions, regulators, and victim advocates to tackle romance fraud, the engagement day united experts from across sectors to confront one of the UK’s fastest-growing threats. Romance fraud cost victims over £106 million last year, equivalent to £12,000 every hour or £200 every minute, making it not only financially damaging but emotionally devastating for those affected. Read more: https://lnkd.in/e3N5U27s