Match Group, Meta, Coinbase and more form anti-scam coalition

Scams are all over the internet, and AI is making matters worse (no, Taylor Swift didn’t giveaway Le Creuset pans, and Tom Hanks didn’t promote a dental plan). Now, companies such as Match Group, Meta and Coinbase are launching Tech Against Scams, a new coalition focused on collaboration to prevent online fraud and financial schemes. They will “collaborate on ways to take action against the tools used by scammers, educate and protect consumers and disrupt rapidly evolving financial scams.”

Meta, Coinbase and Match Group — which owns Hinge and Tinder — first joined forces on this issue last summer but are now teaming up with additional digital, social media and crypto companies, along with the Global Anti-Scam Organization. A major focus of this coalition is pig butchering scams, a type of fraud in which a scammer tricks someone into giving them more and more money through trusting digital relationships, both romantic and platonic in nature.

Tech Against Scams will also rely on the different reaches of the internet each member inhabits to get a fuller picture of threats and best practices. “Tech companies across industries collaborating with each other is essential for preventing criminal activity, and ultimately helps online platforms stay ahead of, and develop effective solutions for, various types of financial crimes,” Yoel Roth, Match Group’s VP of Trust and Safety, said in a statement. “As we work to make it harder for scammers to defraud people, we will also continue investing in new technologies to help disrupt fraud and scams faster, and get people the support and resources they need.”