A coalition of Big Tech companies is working on a more comprehensive solution to combat online scams. As first reported by Axios, Google, Microsoft, LinkedIn, Meta, Amazon, OpenAI, Adobe and Match Group announced the signing of the Online Services Accord Against Scams. The new agreement is meant to put up a united industry-wide front against online fraud and scams, particularly those from sophisticated criminal networks that use multiple platforms.
According to the Axios report, the measures will include adding fraud detection tools, introducing new user security features, and requiring more robust verification for financial transactions. The agreement will also set up best practices for scam detection, prevention and reporting, while encouraging the sharing of information between companies and law enforcement. On the policy side, the coalition will call on the governments to “declare scam prevention a national priority,” according to Axios. While these measures are extensive, the report noted that they’re all voluntary since the accord doesn’t mention any penalties if the companies don’t follow through.
Many of the companies involved in the new accord already have experience in dealing with scams found on their own platforms. Earlier this month, Meta announced several new features across Facebook, Messenger and WhatsApp that would alert users about suspicious friend requests or accounts. Last year, LinkedIn introduced a new verification requirement for company recruiters or executives to address scams targeting job seekers on its platform.
