Cryptocurrency Exchanges coinbase has partnered with industry leaders such as Match Group (parent company of Tinder and Hinge), Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organization (GASO) to launch the Tech Against Scams coalition to combat online fraud and financial problems. We are working on this. plan.
The Tech Against Scams coalition focuses on preventing online fraud and financial schemes targeting consumers across a variety of industries.
We work together to combat fraudulent tools, educate and protect consumers, and stop rapidly evolving financial fraud. This includes sharing best practices, threat intelligence, and other tips to keep your users safe.
This increases visibility and helps develop best practices to combat rapidly evolving scams such as “pig butchering.”
These scams are a pervasive problem across the technology industry, not just social media, cryptocurrencies, finance, and dating apps, and require a collective effort from everyone in the industry.
Although illicit activity accounts for less than 0.5% of cryptocurrency transactions, the impact on victims is devastating: it is estimated that consumers around the world lose US$1.4 trillion each year to financial fraud.
Users must remain vigilant against scams by avoiding unsolicited investment advice, using trusted platforms and educating themselves about scams. Our goal is to protect our community and increase global economic freedom.
Coinbase said it is focused on updating the financial system to make it safer and more secure. While only 0.34% of blockchain transactions involve illegal activities, the security of crypto assets remains a top priority as cash remains the preferred form for such activities.
Cryptocurrency exchanges note that their compliance programs include KYC checks, sanctions screening, suspicious activity reporting, and strong law enforcement partnerships to prevent and detect illegal activity on their platforms. revealed.
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