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flag JPMorgan Chase’s new fraud prevention effort blocked $12B in scams in 2024 using real-time alerts, expert teams, and partnerships.

flag JPMorgan Chase has launched its largest fraud prevention effort, combining real-time alerts, payment blocks, and a scam interruption team with behavioral psychologists to stop fraud. flag The bank prevented $12 billion in scam losses in 2024 and offers free workshops nationwide. flag It partners with AARP to train staff on protecting vulnerable adults and collaborates with law enforcement and tech firms. flag Despite progress, victims of authorized scams often face no reimbursement, a gap consumer advocates say must be addressed. flag The initiative aligns with a new federal strike force targeting transnational crypto fraud, particularly from Southeast Asia.

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