The Knoble Announces Strategic Partnership with Stop Scams Alliance to Combat Financial Scams
Financial scams are among the fastest-growing threats facing Americans today, with over 21 million victims each year and more than $100 billion estimated in annual losses. In response, The Knoble, a global alliance of professionals committed to fighting human crime, and Stop Scams Alliance, an organization dedicated to protecting consumers from fraud, are pleased to announce a strategic partnership to disrupt scams at their source before they reach consumers or financial institutions.
Scams have become some of the most common and damaging crimes in the United States, with sophisticated criminal networks targeting millions of Americans each year. U.S. consumers face a growing threat from foreign crime gangs using cyber-enabled methods to steal billions. The proceeds are used to fuel more crime, such as human slavery, human trafficking, drugs, and terrorism. The need for cross-sector cooperation to prevent them has never been more urgent.
“We’re proud to partner with Stop Scams Alliance in the fight against financial scams,” said Ian Mitchell, Founder and Board Chair of The Knoble. “Fighting human crime is a noncompetitive space, and it requires all of us to work together to have a meaningful impact. By sharing resources, knowledge, and expertise, we can disrupt scams at their source and protect our society.”
“The Stop Scams Alliance team is all in,” said Ken Westbrook, CEO of Stop Scams Alliance. “We’re joining forces with our partners at The Knoble to stop the tsunami of scam attacks that are being perpetrated by foreign organized crime. The skyrocketing growth of scams is a danger to US society and is increasingly a national security threat. The good news is that we can turn the tide. Best practices in other countries have shown that with an organized and well-funded approach, the United States would quickly save millions of victims and tens of billions in losses to the US economy.”
According to recent data from a 2023 Gallup poll and federal agencies, more than 21 million Americans are victims of fraud each year—an average of 57,000 per day—with total losses exceeding $100 billion. The personal and emotional toll on victims, particularly seniors, is devastating, with average losses for seniors reaching $34,000.
The Knoble and Stop Scams Alliance are working together to share resources and knowledge, recognizing that collaboration is the key to success in fighting this complex threat. By working across industries—whether in technology, telecom, financial services, or government—both organizations believe scams can be stopped before they cause harm.
“The human cost of financial scams is incalculable,” said Mitchell. “For every dollar lost, victims suffer emotionally and mentally – and the money being stolen is tied to funding other heinous crimes like human trafficking and exploitation. This collaboration between The Knoble and Stop Scams Alliance is about more than just paper; it’s about aligning to protect people, disrupt criminal rings and restoring a sense of security.”
About The Knoble
The Knoble is a nonprofit organization dedicated to fighting human crime by collaborating with professionals from financial services, law enforcement, and NGOs to combat human trafficking, financial scams, elder financial exploitation, and child sexual exploitation. Through its member network and strategic initiatives, The Knoble works to protect people from exploitation. Learn more at TheKnoble.com.
About Stop Scams Alliance
Stop Scams Alliance is a 501(c)(3) nonprofit whose mission is to significantly reduce scams in the United States through a comprehensive, systemic approach involving public-private partnership and cross-sector cooperation from technology, telecom, financial institutions, consumer advocacy groups, and government. The focus is to stop scams at the source, before they reach the consumer in the first place. Visit StopScamsAlliance.org.
