Bank of America Expands Grassroots Campaign Against Digital Fraud
With financial scams surging to $2.1 billion in social media-related losses last year, Bank of America is scaling its defense strategy. The institution plans to host 2,500 in-person educational seminars, dubbed "Scaminars," by the end of 2026 to help consumers identify and block increasingly sophisticated digital threats.
The initiative targets a growing vulnerability among banking customers, moving beyond automated security to provide direct, community-based training. Jenn Ehresmann, head of consumer client protection, noted that the program aims to proactively empower individuals rather than merely reacting to incidents after they occur. By partnering with local law enforcement, retirement centers, and chambers of commerce, the bank leverages its network of 3,500 financial centers to deliver localized guidance on spotting red flags and navigating emerging scam tactics.
Beyond these seminars, the bank maintains a digital-first defense layer, utilizing over 50 AI-enabled detection models and distributing more than 1 billion educational messages annually. Clients also have access to the bank's Security Center, which centralizes account protections and identity monitoring tools. These resources, built upon the Better Money Habits platform, are designed to assist a wide demographic, ranging from young adults to elderly populations who are often specifically targeted by bad actors.
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