JPMorganChase has 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. The initiative targets the populations most vulnerable to financial fraud, including low- to moderate-income individuals, youth, and older adults, who face greater challenges recovering financially when victimized. According to the Federal Trade Commission, fraud and scams cost American households as much as an estimated $158 billion each year.
The seven organizations receiving support span a range of approaches to combating fraud at scale. The Aspen Institute Financial Security Program, working with Propel, is piloting real-time transaction blocking to prevent Electronic Benefit Transfer theft with several state benefits agencies. The BBB Institute for Marketplace Trust is transforming the BBB Scam Tracker into an AI-powered real-time intelligence platform, piloting across markets including Chicago, Miami, Seattle, and St. Louis. finEQUITY is creating a mobile and web platform for justice-system-impacted individuals featuring an AI-powered scam checker. The Office of the San Francisco Treasurer and Tax Collector will launch StopScamsSF, a city-led initiative combining public messaging, scam monitoring, and financial counseling. Older Adults Technology Services from AARP will conduct a two-year financial empowerment campaign for older adults through its Senior Planet program. Prosperity Now, working with Alumbra, will develop an AI-powered platform for community lenders to detect and report scams via text message. Stop Scams Alliance, partnered with Gallup, is conducting the most comprehensive consumer survey on fraud and scams to date, to be published in June 2026.
The philanthropic investment builds on JPMorganChase’s broader fraud prevention infrastructure, which prevented more than $12 billion in fraud attempts and payment scams in 2024 through intelligence-driven defenses and real-time monitoring. The bank currently hosts fraud and scam prevention workshops across its more than 5,000 branches and serves as a founding member of the Global Anti-Scam Alliance’s North America Chapter.
KEY QUOTES:
“At JPMorganChase, we believe everyone deserves the tools and support to protect what they’ve worked so hard to build. 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.”
Mercedeh Mortazavi, Head of Financial Health, JPMorganChase
“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. By partnering with public, private, and nonprofit organizations, we’re delivering meaningful outcomes today and building a stronger, more resilient financial ecosystem.”
Ryan Loftus, Managing Director, Head of Trust and Security, JPMorganChase
