Match Group Joins Tech Against Scams Coalition
A number of major tech companies have formed a new coalition to help respond to and prevent online fraud. Among the founding members of ‘Tech Against Scams’ is Match Group, the parent company of dating apps Tinder, Hinge, OkCupid, and more.
This new coalition spans across the tech landscape, involving cryptocurrency platform Coinbase, social media giant Meta, dating app developers Match Group, the Global Anti-Scam Organization, and more.
“Tech Against Scams will serve as a primary convening body where participating tech companies will collaborate on ways to take action against the tools used by scammers, educate and protect consumers and disrupt rapidly evolving financial scams”, the new organisation shared.
Under this new banner, member companies will share best practices, threat intelligence, and other valuable information that keeps users safe from online frauds such as romance scams, crypto scams such as ‘pig butchering’.
“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,” said Yoel Roth, VP, Trust & Safety at Match Group.
“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”, Roth added.
The coalition is a culmination of the individual investments that each of the member companies have made into their own safety and anti-fraud activities. Match Group recently shared that it spends $125 million each year on trust and safety, with its team having grown by 30% over the past 12 months.
“People around the world lose hundreds of millions of dollars every month. Criminals are constantly adapting by leveraging and adopting new technology to scam on a global and massive scale, said Brian Bruce, Chief of Operations at Global Anti-Scam Organization.
“As a result, we strongly believe that a multi-sector response with tech and financial companies is necessary to fight against this major transnational issue”, he explained.
