American Express Launches Education Campaign to Help Consumers Spot and Stop Fraud This Holiday Season

American Express has launched new resources to educate consumers about how to protect themselves from fraud. Throughout the holiday shopping season – a time when fraud attempts increase[1] – consumers who follow the company’s social media channels will see infographics, videos and posts educating them about popular fraud tactics and how to avoid becoming a victim.

The company also updated its U.S. Security Center and published new content about fraud prevention on its financial education center, Credit Intel. The new content includes information on how American Express keeps Card Members’ transactions secure with programs like SafeKey®, which uses smart technology to determine if a Card Member is truly the person making a purchase, as well as what a Card Member should do if they are unfortunately a victim of fraud.

With credit card fraud topping the Federal Trade Commission’s list of identity theft reports in 2019[2] and the Commission recently reporting $180.71M in Coronavirus-related fraud losses so far this year[3], fraud is an increasing threat to consumers. Research also shows that while fraudsters’ methods grow in sophistication, many people remain unaware of their techniques. In fact, 75% of people report being unaware of or unable to correctly define vishing[4], a technique where fraudsters pretend to be from a trusted source and attempt to steal private personal and financial information via a phone call.

“With fraud, prevention is always better than a cure. We have advanced machine learning techniques and hundreds of experts working behind the scenes to spot fraudulent transactions before they go through,” said Tina Eide, Senior Vice President for Global Fraud Risk Management. “One way to stop fraud before it happens is to educate our customers about how to recognize fraudsters’ techniques and avoid giving them the private information needed to commit credit card fraud.”

American Express’ education campaign is designed to help consumers understand the different types of fraudulent techniques, while showcasing how the company has their backs in the fight against fraud. The three pillars of the campaign are:

• Education: Information explaining popular types of fraud, from the more commonly known phishing, to vishing and now smishing – a technique fraudsters use to obtain personal information via text.
• Protection: Strategies to help consumers safeguard against becoming a victim of fraud, as well as details on how American Express works to stop fraud.
• Action: Easy steps consumers can take to help fight fraud.

To see content from the education campaign, consumers can follow American Express on Facebook, Instagram, and Twitter, and/or visit the U.S. Security Center and Credit Intel sites. They can also download content from the campaign below and share it via their own social channels.

[1] iovation’s 2019 Holiday Fraud study.

[2] According to the Federal Trade Commission’s Consumer Sentinel Network 2019 Data Book.

[3] The Federal Trade Commission’s COVID-19 and Stimulus Reports as of November 9, 2020.

[4] ProofPoint’s 2020 State of the Phish Report.

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