JPMorganChase Launches Philanthropic Initiative to Support Fraud Prevention

JPMorganChase is inviting U.S.-based non-profit organizations and mission-driven technology companies to submit innovative solutions and ideas that aim to protect individuals from fraud and scams, with a focus on those living on low-to moderate-incomes (LMI).

The Call for Ideas seeks interventions that could include, amongst others, enhancing awareness and adoption of protective measures, providing early warning signals, intercepting and preventing fraud and scams in real-time, and supporting identity protection to prevent ongoing fraud and scams. Organizations are encouraged to submit ideas ranging from early-stage concepts to established innovations ready to expand their impact.

Submissions will be accepted until June 9, 2025. Interested organizations are invited to learn more here. All submissions are subject to the Terms & Conditions of the Call for Ideas. Submission does not guarantee funding or commercial partnerships, but organizations who submit ideas may be contacted for follow-up conversations.

The Challenge

Criminals defraud and scam millions of Americans out of more than $158 billion each year, eroding the financial health of individuals and institutional trust. Fraud losses increased by 33% from 2023 to 2024, according to the latest FBI report.

Technology advances have led to positive developments for consumers, businesses, and the economy, making it easier to manage daily financial needs. At the same time, bad actors are increasingly using these new tools and sophisticated strategies to scam consumers, particularly more vulnerable individuals such as LMI and elder populations. While banks and financial services providers are working to detect and prevent fraud and scam attempts, bad actors introduce new tactics to the market at an alarming rate.

Despite the significant risks to Americans’ financial health, many individuals are unaware or unsure about how to adequately protect themselves from falling prey to fraud and scams, which includes everything from detecting scams in real-time to navigating a complex landscape of solutions that secure their data and privacy.

JPMorganChase’s Efforts to Protecting Consumers from Fraud and Scams

JPMorganChase is applying a variety of the firm’s resources – from its industry insights and products to its grant and impact finance capital – to help protect consumers from fraud and scams. In addition to investing billions in fraud and scam prevention, the firm provides educational resources and hosts hundreds of workshops focused on fraud and scam prevention at our branches every year. These workshops are open to the public and aim to educate communities about the latest scam tactics and protective measures.

Additionally, JPMorganChase is proud to be a founding member of the Aspen Institute’s National Task Force on Fraud & Scam Prevention, applying lessons learned from its industry leadership and committing to work with actors across the private, public and nonprofit sectors to help develop a nation-wide strategy aimed at helping prevent fraud and scams and protecting Americans.

This new effort is the latest way JPMorganChase is leveraging its resources to help protect consumer financial health and builds on its firmwide efforts to support the financial health of individuals and communities across the country.

Source: JPMorganChase

The preceding press release was provided by a company unaffiliated with NonProfit PRO. The views expressed within may not directly reflect the thoughts or opinions of the staff of NonProfit PRO.