JPMorgan Chase is launching its largest fraud and scam prevention initiative to date, focusing on consumer education, prevention, awareness, and ongoing technological investments aimed at reducing scam attacks.
During the week of November 17, in honor of International Fraud Awareness Week, Chase will host over 20 educational workshops nationwide in collaboration with local law enforcement and partners. These free workshops aim to equip the public with the knowledge and tools necessary to recognize and protect themselves from scams.
Additionally, Chase conducts regular fraud and scam prevention workshops across its more than 5,000 branches in the contiguous United States. These sessions will introduce various fraud prevention tools offered by Chase, such as in-app alerts for suspicious payments, particularly those related to social media or other high-risk transactions.
An added security feature will allow customers to designate a trusted contact, who can be notified about specific account transactions, enhancing protection against fraud and financial abuse.
Furthermore, the bank has established a dedicated Scam Interruption Team, comprising behavioral psychologists, investigators, and experts in global scam prevention research. This team is trained to support customers during high-stress situations and intervene in scams in real time.
Chase has reported that its multi-billion dollar investment in protective technologies and strategies helped save customers from $12 billion in fraud and scam attempts last year.
“Protecting our customers from fraud and scams requires a united front—banks, technology companies, social media platforms, and law enforcement all have a role to play,” stated Jennifer Roberts, CEO of Chase Consumer Banking. “At JPMorgan Chase, we’re leading by example through continuous investment in new solutions, and we urge the entire industry to join us in making it more difficult for criminals to target our communities.”