JPMorganChase Aims to Help Protect Millions of Americans from Fraud and Scams, Announces Nearly $14 Million in Philanthropic Investments to Safeguard Consumers
New grants and research initiatives will help drive innovation, build consumer awareness, and deliver real-time solutions for vulnerable Americans
NEW YORK–(BUSINESS WIRE)–
JPMorganChase today announced nearly $14 million in philanthropic investments to help protect Americans from fraud and scams, supporting seven organizations working on consumer awareness and real-time prevention. According to the Federal Trade Commission, fraud and scams cost American households as much as an estimated $158 billion each year. The threat is especially high for low- to moderate-income individuals, youth, and older adults, who are more vulnerable and face greater challenges recovering financially.
“At JPMorganChase, we believe everyone deserves the tools and support to protect what they’ve worked so hard to build,” said Mercedeh Mortazavi, Head of Financial Health. “By supporting these impactful organizations, we’re investing in innovative solutions and community-driven programs that empower those most at risk to recognize scams, prevent fraud and keep their finances secure. This initiative reflects our commitment to advancing economic opportunity, keeping the American Dream within reach, and building safer, more resilient communities across the country.”
JPMorganChase’s Investment in Solutions
JPMorganChase recognizes that Americans experience scams in various forms, and that an ecosystem-wide approach is necessary to combat scammers. We proactively identify and neutralize cybercriminal threats and scammers operating in other nation states, preventing more than $12 billion in fraud attempts and payment scams in 2024. This underscores the power of our intelligence-driven defenses, real-time monitoring, and rapid incident response. Additionally, by investing in and bringing together public, private, and nonprofit organizations, we’re reinforcing multiple points of vulnerability and helping build a stronger, coordinated defense system.
To advance this work, we are proud to support the following organizations:
- The Aspen Institute Financial Security Program, working with Propel, is piloting real-time transaction blocking to prevent Electronic Benefit Transfer (EBT) theft with several state benefits agencies. This technology, integrated directly into EBT authorization flows, aims to stop benefit theft before it occurs, providing critical protection for vulnerable families and reducing waste, fraud, and abuse.
- The BBB Institute for Marketplace Trust is transforming the BBB Scam Tracker into an AI-powered, real-time intelligence platform that detects, surfaces, and informs users of emerging scam activity. This capability will be paired with targeted community activation to deliver timely, actionable insights where they matter most. Across pilot markets including Chicago, Des Moines, Miami, San Diego, Seattle, and St. Louis, the BBB Institute for Marketplace Trust is refining and scaling this platform to prevent scams and strengthen consumer protection and trust across the country.
- finEQUITY is creating a mobile and web platform tailored for justice-system-impacted individuals, featuring an AI-powered scam checker to screen, evaluate and act on suspicious texts. The platform also connects users to live financial coaching and tailored resources to help them avoid high-interest debt and preserve their financial health. finEQUITY partners with small second-chance employers and prison reentry-focused nonprofits to ensure their products and services reach the population their services were created for.
- The Office of the San Francisco Treasurer & Tax Collector will launch StopScamsSF, a comprehensive city-led initiative combining public messaging, scam monitoring, public infrastructure updates, financial counseling, and cross-agency collaboration to protect vulnerable residents and strengthen financial health.
- Older Adults Technology Services (OATS) from AARP will conduct a two-year financial empowerment campaign focused on supporting financial wellness and fraud prevention among older adults. Through its flagship Senior Planet program, the initiative will deliver in-person and virtual programs, expert-led workshops, and personalized support to help older adults navigate financial challenges and protect themselves from scams. JPMorganChase will also work withOATS to host Fraud and Scam Prevention workshops across Chase Community Branches, open to all.
- Prosperity Now, working with Alumbra, will develop an accessible, AI-powered platform for use by community lenders and their consumer and small business clients to detect, explain and report scams via text message, helping users flag risks in real time and prevent scam losses.
- Stop Scams Alliance partnered with Gallup to uncover the extent of fraud and scam victimization across the U.S. by designing and implementing the most comprehensive consumer survey on fraud and scams to date. This nationally representative survey will be published in June 2026. It will provide actionable insights for policymakers, businesses, and communities by measuring prevalence, impact, and reporting behaviors,and it will equip stakeholders with tools to protect consumers.
Building on Broader JPMorganChase Efforts
This effort builds on JPMorganChase’s national leadership in scam prevention and supports the firm’s broader goal of helping more people achieve the American Dream. We also supported the formation of the cross-sector coalition, The Aspen Task Force on Fraud and Scam Prevention, and serve as a founding member of the Global Anti-Scam Alliance’s North America Chapter.
“Across the firm, we’re continuously investing in new technologies and better education to protect our customers—and we’re extending that mission into the communities where we live and work,” said Ryan Loftus, Managing Director, Head of Trust and Security. “By partnering with public, private, and nonprofit organizations, we’re delivering meaningful outcomes today and building a stronger, more resilient financial ecosystem.”
Last year, JPMorganChase launched the largest fraud and scam prevention initiative in the bank’s history by highlighting its industry-leading fraud and scam prevention innovations, investments, and strategic initiatives —including regularly hosting Fraud and Scam Prevention workshops across its more than 5,000 branches.
About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $362 billion in stockholders’ equity as of December 31, 2025. The firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing, and asset management. Under the J.P. Morgan and Chase brands, the firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional, and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260512710711/en/
Media Contact
Kate Canter
JPMorganChase
[email protected]
KEYWORDS: New York United States North America
INDUSTRY KEYWORDS: Security Technology Finance Banking Professional Services Philanthropy Women Seniors Asset Management Men Fund Raising Personal Finance Foundation Other Philanthropy Consumer
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