SEC, TikTok partner to fight digital fraud

Title Partnering Against Digital Fraud How SEC and TikTok Are Raising Awareness on Financial Scams

In today's digital age, it's essential to stay informed about the latest efforts aimed at combating financial scams. Recently, the Securities and Exchange Commission (SEC) partnered with popular short-form video platform TikTok to promote public awareness of financial and investment scams as part of #ThinkTwice, TikTok's flagship digital literacy campaign.

The Imperative of Digital Literacy

As we navigate the online world, it's crucial for individuals to possess the skills and knowledge necessary to do so safely. According to a recent survey by the Global Anti-Scam Alliance, over 75% of Filipino adults have encountered at least one scam in the past year. This alarming statistic underscores the need for increased awareness and education on digital fraud.

The Power of Collaborative Efforts

By joining forces with the SEC, TikTok aims to educate the public on financial scams through a series of informative videos distributed across its social channels and the #ThinkTwice resource hub. The initial video will focus on the Ponzi scheme, a type of financial fraud where an organizer promises high returns to investors but does not actually invest the money.

Best Practices for Avoiding Digital Fraud

To avoid falling victim to digital fraud, it's essential to be aware of common tactics used by scammers and best practices for avoiding them. These include

Being cautious when investing in opportunities that promise unusually high returns
Thoroughly researching companies before making investments
Never providing personal or financial information to unsolicited individuals or organizations
Keeping software and operating systems up-to-date with the latest security patches

The Role of Technology

In addition to education and awareness, technology plays a vital role in combating digital fraud. TikTok has invested heavily in its moderation team, combining human moderators with AI-powered tools to detect and remove content that violates community guidelines.

Conclusion

As professionals in the field of digital security, it's heartening to see organizations like SEC and TikTok working together to raise awareness on financial scams. By promoting digital literacy and education, we can empower individuals to navigate the online world safely and confidently. As we move forward into 2025, it's essential that we prioritize the development of effective solutions for combating digital fraud.

Keywords Digital fraud, SEC, TikTok, Financial scams, #ThinkTwice, Digital literacy

Edward Lance Arellano Lorilla

CEO / Co-Founder

Enjoy the little things in life. For one day, you may look back and realize they were the big things. Many of life's failures are people who did not realize how close they were to success when they gave up.