WASHINGTON — The Aspen Institute has launched a new initiative aimed at coordinating efforts across technology, financial services and retail companies to combat the growing threat of scams and fraud targeting consumers, the organization said.
According to the Aspen Institute, its Financial Security Program has established a new Scam Prevention Initiative designed to help companies share information and coordinate strategies to identify and disrupt scammers. Founding members include Apple, Block, Capital One, Citizens Financial Group, Gen, Google, JPMorgan Chase, Match Group, Microsoft, PayPal, Target, Walmart and Zelle.
The Aspen Institute said the initiative is intended to serve as a forum where participating organizations can collaborate on efforts to detect scam activity, share insights and develop more effective prevention measures.
National Strategy Announced in 2025
The launch follows the release of Aspen’s national anti-scam strategy last year and comes amid growing concern over the rising financial toll of fraud. According to the FBI’s latest Internet Crime Report, Americans lost nearly $21 billion to scams and online fraud in 2025.
The initiative joins a broader range of cross-industry efforts aimed at reducing scams, including fraudulent text messages, robocalls and online schemes. Earlier this year, 11 major technology and retail companies agreed to share threat intelligence related to scam activity.
“Over time, success should look like stronger coordination, better prevention outcomes, improved measurement and evidence that scam activity and consumer harm are being reduced,” Kate Griffin, director of the Scam Prevention Initiative, told Axios in comments cited by the Aspen Institute.
The Initial Step
As an initial step, the Aspen Institute said the initiative will convene discussions among member companies to review existing scam-prevention programs and identify opportunities for collaboration. The organization said it ultimately hopes to create a streamlined framework that enables companies to share internal data, threat intelligence and other insights to better protect consumers.
The Aspen Institute said the effort reflects increasing recognition that scams often span multiple industries and platforms, requiring coordinated responses from companies that interact with consumers at different points in the financial and digital ecosystem.
