These investments build on the bank’s artificial intelligence-driven defenses, real-time monitoring and rapid incident response by helping build a coordinated defense system, JPMorganChase said in a Tuesday (May 12) press release.
“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,” Mercedeh Mortazavi, head of financial health at JPMorganChase, said in the release.
JPMorganChase’s philanthropic investments are supporting the Aspen Institute Financial Security Program, which is working with Propel to pilot real-time transaction blocking to prevent electronic benefit transfer (EBT) theft; the BBB Institute for Marketplace Trust, which is developing an AI-powered platform that detects, surfaces and informs users of emerging scam activity; finEQUITY, which is creating a mobile and web platform that will provide a scam checker and financial coaching to formerly incarcerated people; the Office of the San Francisco Treasurer & Tax Collector, which will launch a city-led initiative called StopScamsSF that aims to protect vulnerable residents; Older Adults Technology Services (OATS) from AARP, which will conduct a two-year campaign supporting financial wellness and fraud prevention among older adults; Prosperity Now, which is working with Alumbra to develop a platform to help community banks and their consumer and small business clients prevent scam losses; and Stop Scams Alliance, which partnered with Gallup to develop a comprehensive consumer survey on fraud and scams that will be published in June.
“Across the firm, we’re continually investing in new technology and better education to protect our customers — and we’re extending that mission into the communities where we live and work,” Ryan Loftus, managing director, head of trust and security at JPMorganChase, said in the release.
In an earlier initiative, JPMorganChase said in November that it was hosting more than 20 free educational workshops across the United States to mark International Fraud Awareness Week. The workshops were designed to help the public recognize and protect themselves from fraud and scams.
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A Federal Trade Commission (FTC) official told a congressional committee in March that the FTC received 3 million fraud reports from consumers in 2025 and that those consumers reported $15.9 billion in losses.
