Tech Giants Unite to Combat Online Financial Scams

Meta, Coinbase, Match Group, and others form coalition to address growing threats from romance and crypto scams.

The 'Tech Against Scams' coalition aims to disrupt tools used by scammers and educate consumers.
Members include Meta, Coinbase, Kraken, Ripple, Gemini, and Match Group.
The coalition will share threat intelligence and best practices to protect users.
Scams like 'pig butchering' involve fraudsters gaining trust through social media and dating apps.
Losses from online scams have surged, with $3.94 billion lost to crypto scams in the U.S. in 2023.