"Google, Microsoft, LinkedIn, Meta, Amazon, OpenAI, Adobe and Match Group announced the signing of the Online Services Accord Against Scams. The new agreement is meant to put up a united industry-wide front against online fraud and scams, particularly those from sophisticated criminal networks that use multiple platforms."
"The measures will include adding fraud detection tools, introducing new user security features, and requiring more robust verification for financial transactions. The agreement will also set up best practices for scam detection, prevention and reporting, while encouraging the sharing of information between companies and law enforcement."
"While these measures are extensive, the report noted that they're all voluntary since the accord doesn't mention any penalties if the companies don't follow through."
Google, Microsoft, LinkedIn, Meta, Amazon, OpenAI, Adobe, and Match Group signed the Online Services Accord Against Scams to combat online fraud through coordinated industry efforts. The agreement establishes measures including fraud detection tools, enhanced user security features, and robust verification for financial transactions. Companies will implement best practices for scam detection, prevention, and reporting while sharing information with each other and law enforcement. The coalition calls on governments to prioritize scam prevention nationally. However, the accord is voluntary with no penalties for non-compliance. Individual companies have already implemented platform-specific protections, such as Meta's suspicious account alerts and LinkedIn's recruiter verification requirements.
Read at Engadget
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