Capital One, Chainalysis, Meta, Microsoft, and TIAA Join National Elder Fraud Coordination Center (NEFCC)

The companies join AARP, Amazon, Google, and Walmart in a cross-sector effort to strengthen collaboration and protect older adults from fraud

WASHINGTON, Nov. 05, 2025 (GLOBE NEWSWIRE) -- Today, The National Elder Fraud Coordination Center (NEFCC) is pleased to announce that industry leaders Capital One, Chainalysis, Meta, Microsoft, and TIAA have joined as new members, strengthening its mission to combat elder financial fraud. NEFCC is the first-ever national effort analyzing and assembling private and public sector data and resources into the investigative packages needed by law enforcement to investigate and prosecute criminal fraud rings targeting older Americans.

According to Federal Trade Commission estimates released earlier this year, funds stolen from American households in 2023 through fraud and scam may have amounted to as much as $300,000 dollars a minute; over a third of that from older Americans.

NEFCC plays a pivotal role in dismantling fraud operations by aggregating and analyzing both private and public sector data through an organized crime lens. Recently released recommendations from the Aspen Institute Financial Security Program emphasize the challenges federal law enforcement faces to identify and assemble actionable intelligence from an overwhelming volume of data.

“Welcoming these innovative organizations strengthens our ability to combat elder fraud and protect vulnerable populations,” said Brady Finta, NEFCC Director. “With support from organizations like NCFTA and Morrison Foerster, we’re leveraging data and technology to dismantle sophisticated fraud networks. Continued collaboration across industries will be essential to making meaningful progress.”

NEFCC’s organized-crime-informed approach enables the Center to connect cases, identify patterns, and assemble high-value investigative packages to provide much-needed support to federal law enforcement agencies in their investigations and prosecutions.

“Joining the National Elder Fraud Coordination Center underscores Capital One’s deep commitment to protecting our customers from financial crime. We look forward to building upon our collaborative work across the public and private sector to take on the multifaceted issue of fraud,” said Jamie Simmons, VP, Fraud Investigative Analysis at Capital One.

“Chainalysis is proud to join the National Elder Fraud Coordination Center to strengthen the public-private response to scams targeting older adults. We’re contributing data-driven insights into how scam networks operate and the tools investigators need to identify illicit fund flows to help disrupt these schemes,” said Jacqueline Koven, Head of Cyber Threat Intelligence at Chainalysis.

“We’re proud to join NEFCC in a cross-industry effort to protect older adults from sophisticated and ruthless fraudsters. We take steps across our platforms to enforce against scammers and empower people to protect themselves. Scammers operate cross-border networks on a global scale and forging partnerships across tech, banking and beyond is vital to staying ahead of these criminal networks,” said Nathaniel Gleicher, Global Head of Counter Fraud, Meta.

“Cyber-enabled financial fraud and scams disproportionately target older adults and unfortunately, this trend continues to grow,” said Steven Masada, Assistant General Counsel with Microsoft’s Digital Crimes Unit. “By joining forces through NEFCC and combining our insights, we can more effectively disrupt fraud networks and protect vulnerable communities.”

“We are excited to join the National Elder Fraud Coordination Center and collaborate with industry leaders to combat the growing threat of elder financial fraud,” said Sastry Durvasula, TIAA’s Chief Operating, Information and Digital Officer. “Longevity creates new opportunities but also new vulnerabilities, especially in the age of AI. Protecting older Americans from sophisticated fraud schemes is fundamental to our mission of helping people achieve a secure retirement. Through NEFCC’s cross-sector approach, we can strengthen our collective defenses and safeguard those who have dedicated their lives to serving others.”

“Morrison Foerster is deeply committed to supporting NEFCC’s mission to protect older Americans from increasingly sophisticated fraud schemes,” says Thomas Chou, managing partner of Morrison Foerster’s Los Angeles office. “We are working to ensure that law enforcement has the actionable intelligence needed to dismantle criminal networks and bring perpetrators to justice. This is a critical issue, and the addition of these new members will help support the NEFCC’s efforts.”

Together, NEFCC members are deepening their collaboration to prevent fraud, share critical resources, and safeguard older adults through coordinated efforts at the local, state, and national levels.

About NEFCC
The National Elder Fraud Coordination Center (NEFCC) is a 501(c)(3) established in 2025 that brings the public and private sectors together to share fraud intelligence and build elder fraud cases through an organized crime lens. These cases will be shared with federal authorities for investigation and prosecution with a goal of disrupting the fraud business model.

For further information: Mary Scott-Hattendorf, NEFCC, marys@fightelderfraud.org, 760.807.7790.

CONTACT:
Mary Scott-Hattendorf, marys@fightelderfraud.org

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