JPMorgan Chase Launches Philanthropic Initiative to Combat Fraud and Scams Targeting Vulnerable Communities
In a bold move to address the growing threat of fraud and scams, JPMorgan Chase has announced a new philanthropic initiative aimed at protecting individuals and families, with a special focus on those living on low-to-moderate incomes (LMI). The financial giant is calling on U.S.-based non-profit organizations and mission-driven technology companies to submit innovative solutions that can help safeguard consumers from fraudulent activities. This initiative underscores JPMorgan Chase’s commitment to leveraging its resources to protect the financial health of vulnerable populations while fostering collaboration across sectors.
A Call for Innovative Solutions
The Call for Ideas invites organizations to propose interventions that address the multifaceted challenges posed by fraud and scams. These solutions could include, but are not limited to:
- Enhancing Awareness and Adoption of Protective Measures: Educating consumers about how to recognize and avoid scams.
- Providing Early Warning Signals: Developing tools or systems that alert individuals to potential fraud in real-time.
- Intercepting and Preventing Fraud: Creating technologies or processes that stop fraudulent activities before they cause harm.
- Supporting Identity Protection: Offering innovations that help individuals secure their personal information and prevent ongoing fraud.
Organizations are encouraged to submit ideas ranging from early-stage concepts to proven innovations ready to scale their impact. The goal is to identify solutions that can make a tangible difference in protecting consumers, particularly those who are most vulnerable to financial exploitation.
Submissions will be accepted until June 9, 2025, and interested organizations can learn more about the application process here. While submission does not guarantee funding or partnerships, selected organizations may be contacted for follow-up discussions to explore potential collaborations.
The Growing Threat of Fraud and Scams
Fraud and scams have become a pervasive issue, costing Americans over $158 billion annually, according to the latest FBI report. Alarmingly, fraud losses surged by 33% from 2023 to 2024, highlighting the escalating sophistication of bad actors. Advances in technology have brought undeniable benefits to consumers, businesses, and the economy, but they have also empowered criminals to exploit these tools for malicious purposes.
Vulnerable populations, such as LMI households and elderly individuals, are disproportionately targeted by scammers. Many of these individuals lack access to adequate resources or knowledge to protect themselves from increasingly sophisticated tactics like phishing, identity theft, and fake investment schemes. Even as banks and financial institutions work tirelessly to detect and prevent fraud, criminals continue to adapt, introducing new methods at an alarming rate.
Despite the significant risks, many Americans remain unaware of how to protect themselves effectively. Navigating the complex landscape of data privacy and security solutions can be overwhelming, leaving individuals exposed to financial harm. This gap in awareness and preparedness underscores the urgent need for innovative solutions that empower consumers to take control of their financial safety.
JPMorgan Chase’s Commitment to Fraud Prevention
For years, JPMorgan Chase has been at the forefront of efforts to combat fraud and scams. The firm leverages its extensive industry insights, cutting-edge products, and grant capital to develop strategies that protect consumers. In addition to investing billions in fraud prevention technologies, JPMorgan Chase provides educational resources and hosts hundreds of workshops each year to educate communities about the latest scam tactics and protective measures. These workshops, open to the public, are held at branches nationwide and aim to equip individuals with the knowledge they need to stay safe.
JPMorgan Chase is also a proud founding member of the Aspen Institute’s National Task Force on Fraud & Scam Prevention. Through this partnership, the firm collaborates with leaders from the private, public, and nonprofit sectors to develop a comprehensive national strategy for combating fraud. This collective effort reflects JPMorgan Chase’s dedication to fostering systemic change and ensuring that all Americans have access to the tools and resources needed to protect their financial well-being.
Expanding Impact Through Innovation
This new initiative builds on JPMorgan Chase’s broader mission to support the financial health of individuals and communities across the country. By inviting external organizations to contribute their expertise and creativity, the firm aims to accelerate progress in the fight against fraud and scams. Whether through technological advancements, community education, or policy advocacy, the Call for Ideas represents an opportunity to drive meaningful change.
The initiative also highlights JPMorgan Chase’s belief in the power of collaboration. By working alongside non-profits, tech innovators, and other stakeholders, the firm seeks to amplify its impact and create solutions that are scalable, sustainable, and inclusive. This approach aligns with the firm’s overarching goal of building a more resilient financial ecosystem for all.
How You Can Get Involved
Non-profit organizations and mission-driven technology companies are encouraged to participate in this groundbreaking effort. Whether you’re developing a novel tool to detect fraud in real-time or designing a program to educate underserved communities about scam prevention, your idea could play a pivotal role in protecting millions of Americans.
To ensure your submission stands out, consider addressing key areas such as scalability, accessibility, and measurable impact. Submissions should clearly articulate how the proposed solution addresses the unique challenges faced by LMI populations and other vulnerable groups.
While submitting an idea does not guarantee funding, it opens the door to potential partnerships and opportunities to refine and expand your innovation under JPMorgan Chase’s guidance. Organizations selected for follow-up conversations will have the chance to collaborate with one of the world’s leading financial institutions to bring their vision to life.
About JPMorganChase
JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $4.4 trillion in assets and $351 billion in stockholders’ equity as of March 31, 2025. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.
