Aspen Institute launches national strategy to combat fraud and scams

Today, our National Task Force on Fraud and Scam Prevention released United We Stand: A National Strategy to Prevent Scams—the first-ever coordinated set of recommendations for how the public and private sectors can work together to fight fraud and scams. Scams aren't just a nuisance. They cost American households $158 billion every year. About 50 million Americans, or 1 in 5 U.S. adults, have lost money to an online scam. Over 80 organizations and 300+ experts contributed to this effort, culminating in a roadmap to make scams less profitable for criminals and protect American households. Over 40 Task Force members have also signed onto a letter to Congress urging bold action to elevate scams as a national priority. Specifically, the national strategy outlines recommendations for the following: ⬩ Congress and the White House should declare scam prevention a national priority. ⬩ Companies should work to strengthen system defenses and bolster information sharing across sectors. ⬩ Law enforcement should expand capabilities to recover assets, expand anti-scam intelligence capabilities, and coordinate across jurisdictions. We’re proud of this extraordinary collaboration and grateful for the leadership shown across industries and government. This report is an important first step. Now, the work begins to turn these recommendations into action. Read more in today’s Axios exclusive by Sam Sabin: https://lnkd.in/e6UAH2zH Read the full report here: https://lnkd.in/eid526Qd Tune in for tomorrow's event marking the launch of this report: https://lnkd.in/g_NtpUQc

We applaud The Aspen Institute Financial Security Program and Kate Griffin for bringing together public, private, and non-profit stakeholders to develop a modern, whole-of-government strategy to combat fraud and scams. As bad actors get more sophisticated, we need to marshal all the tools at our disposal to modernize and future-proof our systems. The fintech industry is stepping up with cutting-edge technology to combat fraud and keep Americans safe. We look forward to more engagement and work on this critical issue. Learn more about the path forward in Aspen's report ⬇️

The release today of this report from Aspen’s Institute for Financial Security Program’s National Task Force on Fraud and Scam Prevention represents the joint effort of leaders from industry, government, law enforcement, and advocacy organizations, to develop a national strategy to fight scams and fraud. The report, United We Stand: A National Strategy to Prevent Scams, presents a set of recommendations to fight the escalating and costly consumer problem of scams and fraud. It was an honor to have a small role in the development of these recommendations. 

Thrilled The Aspen Institute Financial Security Program is bringing together public and private stakeholders to develop a modern, whole-of-government strategy to combat fraud and scams.   It is shocking to hear 1 in 5 U.S. adults have lost money to an online scam, costing households an estimated $150 billion each year. Just goes to show bad actors are becoming more sophisticated and as an industry we must step up with cutting-edge technology to combat fraud and keep consumers safe. Looking forward to more engagement and work on this critical issue. Learn more about the path forward in Aspen's report ⬇️

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

A group of more than 80 #leaders from the public, private and nonprofit sectors are calling for a whole-of-government strategy to crack down on #scams, according to a new strategy proposal shared first with Axios. Last year, Americans lost more than $158 billion to #fraud and scams, or roughly $300,476 per minute, according to the Federal Trade Commission. Scams are about more than just filling the bank accounts of one-off #cybercriminals: They're often linked back to complex overseas operations that fund various regimes. Yet companies and law enforcement have often worked in silos when trying to crack down. Advancements in #AI tools will make it easier for #scammers to target even more people. Scammers can use audio #deepfakes to trick people into thinking their loved one is really on the phone asking for money, or use #ChatGPT to create #fake identification documents. The Aspen Institute's National Task Force on #Fraud and #Scam Prevention published a 116-page strategy for fighting scams and sent a letter to Congress today calling on policymakers to make the issue a top priority. "This is a different kind of #crime, and we can't do it alone," Kate Griffin, director of inclusive financial system at the Aspen Institute Financial Security Program, told Axios. The task force includes nearly 80 members of the public and private sectors, including major #technology vendors, telecommunications providers and federal law enforcement agencies. Kathy Stokes, director of fraud prevention and programs at AARP, a member of the task force, told Axios that coordination is the only way to squash scams. "We coordinate much worse than the criminals do," Stokes said. For years, companies, law enforcement and other nonprofits would over emphasize the need to educate the public about how to spot scams. But Stokes notes that the new strategy goes beyond that, because "we cannot educate our way out of the fraud crisis." Many task force members have already started working on programs that follow the strategy's recommendations. AARP stood up a new Fraud Watch Network earlier this year, which offers a free helpline for people who have been targeted by scams and connects them with law enforcement as needed. #Visa, another member, created its own internal scam detection practice this year that proactively hunts and takes down scams on its own #payment networks and beyond. Several current #government officials are already a part of the task force, and the Aspen Institute plans to continue to use its convening power to bring people across sectors together to keep working on these issues, Griffin said. "We're here to keep creating the spaces where those leaders can come together to turn that blueprint into action."

A group of more than 80 #leaders from the public, private and nonprofit sectors are calling for a whole-of-government strategy to crack down on #scams, according to a new strategy proposal shared first with Axios. Last year, Americans lost more than $158 billion to #fraud and scams, or roughly $300,476 per minute, according to the Federal Trade Commission. Scams are about more than just filling the bank accounts of one-off #cybercriminals: They're often linked back to complex overseas operations that fund various regimes. Yet companies and law enforcement have often worked in silos when trying to crack down. Advancements in #AI tools will make it easier for #scammers to target even more people. Scammers can use audio #deepfakes to trick people into thinking their loved one is really on the phone asking for money, or use #ChatGPT to create #fake identification documents. The Aspen Institute's National Task Force on #Fraud and #Scam Prevention published a 116-page strategy for fighting scams and sent a letter to Congress today calling on policymakers to make the issue a top priority. "This is a different kind of #crime, and we can't do it alone," Kate Griffin, director of inclusive financial system at the Aspen Institute Financial Security Program, told Axios. The task force includes nearly 80 members of the public and private sectors, including major #technology vendors, telecommunications providers and federal law enforcement agencies. Kathy Stokes, director of fraud prevention and programs at AARP, a member of the task force, told Axios that coordination is the only way to squash scams. "We coordinate much worse than the criminals do," Stokes said. For years, companies, law enforcement and other nonprofits would over emphasize the need to educate the public about how to spot scams. But Stokes notes that the new strategy goes beyond that, because "we cannot educate our way out of the fraud crisis." The intrigue: Many task force members have already started working on programs that follow the strategy's recommendations. AARP stood up a new Fraud Watch Network earlier this year, which offers a free helpline for people who have been targeted by scams and connects them with law enforcement as needed. #Visa, another member, created its own internal scam detection practice this year that proactively hunts and takes down scams on its own #payment networks and beyond. Several current #government officials are already a part of the task force, and the Aspen Institute plans to continue to use its convening power to bring people across sectors together to keep working on these issues, Griffin said. "We're here to keep creating the spaces where those leaders can come together to turn that blueprint into action."

📢 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.