JPMorganChase has announced the launch of its largest-ever fraud and scam prevention initiative.

The US bank said that the scheme will include consumer education, prevention, and awareness, as well as continued investment in operational enhancements to reduce fraud attacks.

To mark International Fraud Awareness Week, the organisation is also hosting more than 20 educational workshops across the US in coordination with local law enforcement and other local partners.

Chase regularly hosts fraud and scam prevention workshops across its more than 5,000 US branches.

The bank says it also invests billions annually in cutting-edge technologies and strategies to safeguard its customers' financial wellbeing.

In 2024, Chase safeguarded customers from losing $12 billion in fraud and scam attempts.

The new scheme aims to highlight a number of existing fraud and scam prevention projects and investments by Chase, including scam warnings supported by advanced technology that spots when customers might be at risk of a scam.

The bank is also introducing an added security feature that allows customers to designate a trusted contact who may be notified of certain transactions on the customer's account, helping protect against fraud or financial abuse.

“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,” said
Jennifer Roberts, chief executive of Chase Consumer Banking. “At JPMorganChase, we’re leading by example by continuously investing in new solutions, but we call on the entire industry to join us in making it harder for criminals to exploit our communities.”

Chase is the US consumer and commercial banking arm of JPMorgan Chase & Co, which currently has assets of $4.6 trillion.

Chase serves more than 85 million consumers and seven million small businesses with a number of key financial services, including personal banking, credit cards, mortgages, auto financing, investment advice, small business loans and payment processing.

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