Coming Together to Fight Scams
Author
Block
Tags
Author
Block
Tags
With the growth of digital platforms, online scams are becoming more common and increasingly sophisticated. In 2023 alone, losses from investor and imposter scams jumped to more than $7 billion, according to the FTC. Now with more avenues to target victims than ever before, this golden age of scams requires an industry-wide effort with government, law enforcement, social media platforms, tech companies, and financial services providers, all working together to protect consumers.
Strengthening Ties with Law Enforcement
At Cash App, we’ve built a multi-pronged approach to engage with our key stakeholders in financial crime prevention. In key markets across the US, our compliance team brings together law enforcement partners and non-governmental organizations for quarterly law enforcement summits, aimed to bring together Block legal and compliance leaders, law enforcement agencies, and NGOs for thoughtful discussions on the ever-evolving financial crimes threat landscape.
Industry Partnership
Collaboration with fellow industry partners is instrumental to combating financial crime. That’s why we’re proud to be a member of the Aspen Institute’s National Task Force on Fraud and Scam Prevention, working to develop the first coordinated national strategy aimed at stopping financial fraud at its root. And alongside the Internal Revenue Service (IRS), we’ve teamed up to form the Coalition Against Scam and Scheme Threats (CASST) – a public-private alliance to improve information sharing and collective infrastructure for combating tax-related scams.
Forward, Together
Cash App remains committed to standing alongside its partners in this fight against scams. Together — through transparent collaboration, education, and resource-sharing —there can be a safer digital world, empowering and protecting individuals with resilience and trust across platforms.
Author
Block
Tags
With the growth of digital platforms, online scams are becoming more common and increasingly sophisticated. In 2023 alone, losses from investor and imposter scams jumped to more than $7 billion, according to the FTC. Now with more avenues to target victims than ever before, this golden age of scams requires an industry-wide effort with government, law enforcement, social media platforms, tech companies, and financial services providers, all working together to protect consumers.
Strengthening Ties with Law Enforcement
At Cash App, we’ve built a multi-pronged approach to engage with our key stakeholders in financial crime prevention. In key markets across the US, our compliance team brings together law enforcement partners and non-governmental organizations for quarterly law enforcement summits, aimed to bring together Block legal and compliance leaders, law enforcement agencies, and NGOs for thoughtful discussions on the ever-evolving financial crimes threat landscape.
Industry Partnership
Collaboration with fellow industry partners is instrumental to combating financial crime. That’s why we’re proud to be a member of the Aspen Institute’s National Task Force on Fraud and Scam Prevention, working to develop the first coordinated national strategy aimed at stopping financial fraud at its root. And alongside the Internal Revenue Service (IRS), we’ve teamed up to form the Coalition Against Scam and Scheme Threats (CASST) – a public-private alliance to improve information sharing and collective infrastructure for combating tax-related scams.
Forward, Together
Cash App remains committed to standing alongside its partners in this fight against scams. Together — through transparent collaboration, education, and resource-sharing —there can be a safer digital world, empowering and protecting individuals with resilience and trust across platforms.