JPMorgan Chase Calls for Innovative Solutions to Prevent Fraud

J.P. Morgan Chase has started a new program asking U.S. nonprofits and tech companies with a social mission to share fresh ideas for stopping fraud and scams. The focus is on helping people with low-to-moderate incomes (LMI) stay safe from financial crimes. This “Call for Ideas” looks for solutions to improve fraud protection, spread awareness, and strengthen identity security for those most at risk.

The bank welcomes all kinds of ideas, from early concepts to fully developed plans ready to grow. They want solutions that stop fraud as it happens, teach people how to stay safe, and provide early alerts to consumers. J.P. Morgan Chase believes these efforts can make a real difference for people vulnerable to scams.

Organizations can submit their ideas by June 9, 2025. While submitting doesn‘t guarantee funding or a partnership, the bank may reach out to selected groups for more talks. You can find details on how to apply on J.P. Morgan Chase’s website.

This program comes at a critical time. According to a recent FBI report, fraud losses in the U.S. jumped 33% from 2023 to 2024, with criminals stealing over $158 billion each year. Many of these scams target vulnerable groups, like older adults or those with limited income, who often struggle to protect themselves.

To tackle this, J.P. Morgan Chase is using its resources to keep consumers safe. Beyond funding fraud prevention, the bank offers free educational materials and holds hundreds of workshops at its branches to teach people about scams. These sessions are open to everyone and cover the latest tricks used by fraudsters.

The bank is also a key member of the Aspen Institutes National Task Force on Fraud & Scam Prevention. This group works with businesses, nonprofits, and government to create and carry out plans to fight fraud and protect Americans.

J.P. Morgan Chases work shows its dedication to improving the financial well-being of communities. By encouraging new ideas to stop fraud, the bank hopes to reduce the harm caused by scams and help people better protect their money and personal information.

This program is another example of how J.P. Morgan Chase uses its expertise to address big financial challenges. As scams get more complex, these steps could bring much-needed security and comfort to many Americans at risk.