Google, Amazon, OpenAI and 5 other biggest American technology companies have signed a pledge to share ...

Google, Amazon and OpenAI, along with five other technology companies, have reportedly come together to share threat intelligence on scams and online fraud. These tech majors have signed the “Online Services Accord Against Scams,” a pledge that aims to coordinate efforts to detect and prevent fraudulent activity across digital platforms, according to a report.

Other companies that have reportedly joined the pledge include Microsoft, Meta, Adobe, LinkedIn and Match Group, which operates platforms such as Tinder and Hinge.According to a Axios report, the agreement was signed ahead of the UN Global Fraud Summit in Austria. As per a draft of the accord shared with Axios, the initiative is intended to “set expectations for how signatories will work across online services to counter scammers” and also “seeks to drive a united industry response alongside governments, law enforcement, NGOs, and others working to combat fraud and scams.”

What the companies said about the new pledge against online fraud

In a statement to Axios, Karen Courington from Google’s trust and safety team said, “We can't solve this alone. We need others across the industry to unite in the effort to tackle scams more collectively.”Under the new accord, participating companies said they will expand information sharing with industry partners and law enforcement about cross-border criminal networks. They also plan to share best practices for detecting and preventing scams through forums such as the Global Anti-Scam Alliance and the Tech Against Scams Coalition.

The companies said they will introduce additional security measures, including AI-based systems designed to detect fraudulent activity more quickly and new safety features for users. They also plan to strengthen verification processes for financial transactions on their platforms and provide clearer reporting channels for users who encounter scams. The agreement also calls on governments to formally “declare scam prevention a national priority.”However, the pledge is voluntary and does not include penalties if companies fail to follow through. According to Nathaniel Gleicher at Meta, companies have previously shared information during individual investigations into scams. The accord creates a framework for exchanging insights more regularly, including which defensive measures are effective and how threat actors are evolving their methods.Steven Masada from Microsoft said the partnership will also allow faster communication between companies. Masada said he expects more coordinated actions “designed to be more effective in taking down infrastructure and identifying threat actors that are preying on customers worldwide.”Financial losses linked to scams have increased recently, with AI making it easier for criminals to create convincing online identities and messages. According to the Federal Bureau of Investigation, consumers lost more than $16 billion to scams and cybercrime in 2024.The Trump Administration has increased efforts to address international scam networks, including issuing an executive order earlier this month directing government agencies to prioritise the issue.Scott Knapp at Amazon said scammers often operate across several platforms rather than relying on a single service. For example, fraudsters may contact potential victims through social media platforms and then continue the scheme through dating apps.Technology companies are expected to introduce additional safety features and increase engagement with policymakers and law enforcement agencies to address organised scam networks. Recently, both Meta and OpenAI have announced new initiatives to prevent scams, including platform safety tools and partnerships.