Feedzai Joins GASA, the Global Anti-Scam Alliance

Why Feedzai and GASA’s Partnership is Important

Consumers lost approximately $55 billion to online scams last year. Meanwhile, the number of scam-related crimes reported to law enforcement surged to nearly 300 million. But while scams are flourishing globally, law enforcement agencies and organizations are struggling to keep up. According to the World Economic Forum, less than 1% of all cybercriminals are prosecuted. 

Feedzai has joined GASA to share its groundbreaking expertise in financial crime with a network of financial crime-fighting professionals who share the same critical mission. As a corporate GASA member, we will bring our expertise, knowledge, and experience in preventing financial crime with artificial intelligence and provide financial crime trends and insights to strengthen GASA’s community and working groups.

What is GASA?

GASA is a non-profit organization dedicated to protecting consumers from the damaging effects of financial crime and scams. The organization brings together governments, law enforcement, consumer protection advocacy groups, and commercial organizations to share financial crime insights across multiple parties. Through this coalition of different stakeholders, GASA develops actionable and concrete solutions that will ultimately turn the tide in the fight against scams.

With millions lost to scams each year, sharing key data insights, intelligence, lessons learned, and research with key stakeholders is a cornerstone of GASA’s mission to:

• raise public awareness of the different types of scams, how to recognize them, and how to avoid falling victim
• study how scams work, how they unfold, and craft effective solutions to combat them, and
• analyze existing policies and develop new legislation designed to protect citizens from scams and their harmful effects.

What Feedzai and GASA’s Collaboration Means for Financial Crime

“We have developed a market-leading RiskOps platform powered by AI and machine learning, so have unique insight and unrivaled knowledge in both identifying and preventing scams,” said Feedzai’s Fraud Prevention expert, Dan Holmes. 

“We are proud to partner with GASA so we can share the knowledge and insight we have to support its mission to protect consumers across the globe from fraud,” Holmes continued. “As a GASA corporate member, we will work with organizations globally to tackle scams – sharing insights and best practices and will be regular contributors to working groups. We will then look to share the information with our customers to help improve their own anti-fraud programs.”

GASA managing director Jorij Abraham echoed these sentiments, voicing excitement for the world’s first RiskOps platform to share in its critical fraud-fighting mission.

“By bringing together key stakeholders in the fight against cybercrime, we are able to facilitate the sharing of knowledge, data, tools, research, policy, and legislation across jurisdictions for a joined-up approach to scam prevention,” said Abraham.

“We are very happy that Feedzai is joining GASA as Corporate Member,” Abraham added. “Feedzai’s know-how and data on fighting financial crime using AI will strengthen GASA’s knowledge-sharing network. Helping all participants to protect consumers worldwide more from online fraud and scams.”

In the fight against financial crime and scams, it pays to have allies. Feedzai looks forward to working closely with our new partner GASA to make banking and commerce safer for consumers and organizations worldwide.