New initiative from Prosperity Now and Alumbra, supported by JPMorganChase, will help institutions identify suspicious activity and respond to scams in real time.

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WASHINGTON, D.C. – Financial scams are becoming more sophisticated, faster-moving, and harder to identify in real time, especially for community-based financial institutions and the individuals and small businesses they serve.  

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To help address this challenge, Prosperity Now today announced a new partnership with Alumbra to develop an accessible, AI-powered scam prevention platform designed to help community-based financial institutions and their clients identify suspicious activity, better understand potential risks, and take action before financial losses occur. The initiative is supported through a new philanthropic investment from JPMorganChase as part of the firm’s broader national efforts to strengthen fraud and scam prevention.

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“Scams are evolving faster than many institutions can respond, particularly in communities where trust, timing, and access to clear information matter most,” said Marisa Calderon, President and CEO of Prosperity Now. “Prosperity Now works closely with community-based financial institutions and practitioners across the country, which gives us a direct view into the challenges institutions and their clients are navigating in real time. This initiative is about turning those insights into practical tools, stronger coordination, and more effective ways to help prevent financial loss before it occurs.”

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According to new data from the Federal Trade Commission (FTC), social media continues to play a major role in financial scams, accounting for nearly 30 percent of reported fraud losses in 2025 and contributing to approximately $2.1 billion in reported losses, more than any other contact method tracked by the FTC. The FTC has also noted that fraud reporting significantly underestimates the true scale of scam-related losses nationwide, suggesting the actual financial damage is likely far higher.

The platform is designed to support situations where individuals or small businesses may be persuaded to send money as part of a scam, and financial institutions are working in real time to determine whether and how to intervene. Through a text-based interface and companion tools, users will be able to identify potentially suspicious messages or requests, receive plain-language explanations of common scam tactics, access guidance on possible next steps before financial loss, and contribute to broader scam trend reporting and shared insights. The initiative will also help community-based financial institutions better understand emerging scam patterns affecting the communities they serve and strengthen internal response protocols over time.

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“As AI-powered scams become an increasing threat, AI-powered prevention tools have become essential, especially when trust and timing matter,” said Alexandra Villarreal O’Rourke, CEO of Alumbra. “We are proud to partner with Prosperity Now and JPMorganChase on tools designed to stay on top of the latest scam trends and tactics to help users better identify and respond to scam activity in real time.”

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The project will also contribute to a broader effort to better understand scam patterns affecting communities across the country and support stronger coordination among financial institutions, nonprofit lenders, and other partners responding to financial scams.

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“Stopping scams takes collaboration across sectors—bringing together the private sector, tech partners, nonprofits, and public-sector stakeholders to identify emerging threats and help people take action before losses occur,” said Mercedeh Mortazavi, Head of Financial Health, Corporate Responsibility. “JPMorganChase is proud to support Prosperity Now and Alumbra in building an accessible tool that can strengthen real-time detection, improve learnings on scam trends, and bolster prevention efforts across the communities we all serve.”

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About Prosperity Now – Since 1979, Prosperity Now has been a trusted leader in strengthening financial security, expanding access to capital, and ensuring economic stability for businesses, families, and communities. To learn more, visit prosperitynow.org.

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About Alumbra – Alumbra is an artificial intelligence product and advising company building solutions to help individuals and businesses use AI responsibly, and to protect them from those who don't. Founded by experienced financial services executives, Alumbra pairs deep expertise in regulated industries with frontier AI to deliver practical, effective tools with trustworthiness at their core.

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