ABA Welcomes FTC Examination of Digital Advertising Practices to Combat Fraud

"ABA welcomes the Federal Trade Commission's decision to examine whether additional rules are needed to prevent online platforms from being used to facilitate impersonation scams. Fraudsters increasingly exploit digital advertising, social media and other online services to impersonate trusted organizations, including banks, to deceive consumers. ABA has long advocated for a whole-of-ecosystem approach to combating fraud and supports efforts to address the tools, technologies and platforms that scammers use to reach potential victims. We look forward to working with the FTC as it considers additional steps to protect consumers from fraud."

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The American Bankers Association is the voice of the nation’s $26.5 trillion banking industry, which is composed of small, regional and large banks that together employ over 2 million people, safeguard $20.7 trillion in deposits and extend $13.9 trillion in loans.

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