Big Tech Creates “Accord Against Online Scams & Fraud”

Eleven companies have signed an accord to address the growing issue of “online scams and fraud,” with the notable exclusion of Apple.

We’ve all likely seen the fake job offers, the fake delivery notifications for packages we didn’t order, and any number of other scams designed to steal as much money from you as possible.

An estimated $442 billion was lost to scammers last year. Many of those who lost money were regular people who can’t afford to part with their hard-earned cash.

Scams have always been a thorn in the side of society, but with recent advances in AI, it’s becoming easier and easier for scammers to extract money from their victims. More convincing fake texts, emails, and phone calls are now possible thanks to the generative AI revolution.

Attempts by tech companies to thwart these scams are welcome to see, but they’re not 100% effective as they rely on AI detection.

The document states that in order to fight scams, it will require cooperation from not just companies, but also between the public and private sector.

The accord is a bit light on the technical details of how this will be achieved, likely they don’t know for sure just yet, only making mention of “robust security features, AI-powered detection systems, and clear usage policies.”

The signatories of the accord consist of Adobe, Pinterest, Google, OpenAI, LinkedIn, Match Group, Meta, Amazon, Microsoft, Target, and Levi Strauss & Co.

These companies Run the gamut from tech to retail to employment, and it makes sense: these are industries commonly involved in scams. Fake job offers are becoming increasingly common, and of course the initial contact method is a text or phone call. Retailers sell gift cards, a common method of transferring money to scammers.

The accord calls on its members to buff up their anti-scam technology. Google has been leading the way on Android with several features designed to prevent scams. Their AI scam detection uses on-device Gemini to warn you of potential scams, and they even disable sideloading and block new accessibility permissions when on a phone call.

Technical protections such as these are only a first step though. The accord also emphasizes the need for collaboration and sharing of best practices, and mechanisms to prevent scams when a new one proves effective.

They also call out providing a process for scams to be reported to law enforcement as an important measure, albeit without sacrificing user privacy.

Information sharing between governments and across different industries is on the docket as well, alongside fixing conflicting laws in different regions to eliminate hindrances to swift and effective scam countermeasures.

Scammers are a scourge on society and the more companies and governments can collaborate on this issue, the better off we all are in my book.