Jakarta - Several prominent technology and cryptocurrency companies have united to form a coalition, Tech Against Scams, dedicated to combating online fraud and scams, including cryptocurrency fraud schemes like "pig butchering."
Announced by Match Group, this coalition also includes prominent companies such as Coinbase, Meta, Kraken, Ripple, Gemini, and the Global Anti-Fraud Organization.
"Tech Against Scams will function as the main meeting body where participating technology companies will collaborate to take action against tools used by scammers, educate and protect consumers, and stop rapidly growing financial fraud," the announcement details, quoted from Bitcoin.com, Saturday (May 25, 2024).
This project will cover sharing best practices, threat intelligence, and other tips and information to help keep users safe and protected before they become victims of online scams like dating scams or cryptocurrency scams like "pig butchering."
Building on independent initiatives over the years to protect their users, this coalition aims to create a new operational framework that sets and applies best practices across the industry for preventing fraud.
By establishing strong relationships with global law enforcement agencies, this coalition intends to increase the effectiveness of investigations into fraud and online crimes, thereby strengthening the overall security ecosystem.
Coinbase's Chief Security Officer, Philip Martin, emphasized that fraud schemes are becoming increasingly sophisticated, highlighting the greater emphasis on the importance of industry leaders uniting to address fraud and secure a safer digital environment for users.
"We are dedicated to stopping online fraud that is currently growing through collaboration, sharing information, and enhancing consumer education," he concluded.
Source: https://www.liputan6.com/
