Big Tech firms join hands to tackle online scams, but there’s a catch

Online scams

• Google, Meta, Microsoft and others sign anti-scam industry accord
• Plan enhances fraud detection and visible security alerts
• Accord depends on voluntary action, lacks penalties or enforcement

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A bunch of the biggest names in tech are trying to get on the same page when it comes to online scams. Companies including Google, Microsoft, Meta, Amazon, OpenAI, Adobe, along with others like LinkedIn and Pinterest, have signed what they’re calling an Industry Accord Against Online Scams and Fraud.

Scams today rarely stay in one place. Someone might reach out on social media, move the conversation to a messaging app, and then push for a payment somewhere else. That’s part of the problem—and also what this group is trying to address.

The plan involves better fraud detection tools, more visible security warnings for users, and stricter verification when money is involved. There’s also an effort to standardise how scams are flagged and reported, and to share more information between companies and law enforcement.

Some of this is already happening in pockets. Meta, for instance, recently added alerts across its apps to flag suspicious accounts or messages. LinkedIn has been tightening checks around recruiters after a spike in job scams.

This agreement is essentially trying to stitch those efforts together.

There is, however, one obvious limitation: none of this is mandatory. The accord doesn’t include penalties or enforcement mechanisms, so it relies entirely on companies following through. That doesn’t make it meaningless—but it does make it harder to judge how much will actually change.

At the policy level, the group also wants governments to treat scam prevention as a priority, which could open the door for tighter regulations down the line.