Capital One is increasing its efforts to protect customers from financial crime as fraudsters develop more advanced tactics. Chris Sparks, Head of Fraud and Disputes for US Card at Capital One, spoke about recent trends and the company’s approach to fighting scams.
Sparks highlighted that scammers are using merchant scams, such as fake online stores promoted on social media, often capitalizing on current news events to make their schemes appear legitimate. Another major trend is relationship or imposter scams, which can range from fraudulent texts to complex emotional manipulations tied to current events like government shutdowns. He noted, “The bigger issue is that scammers are no longer individuals operating in isolation. They’re organized, global networks that use technology, social media, and telecom systems to reach millions of people at once. That’s why we continue to call for an all-of-society approach to stopping them.”
To address these threats, Capital One relies on its large customer base as an early-warning system and collaborates with peer institutions, law enforcement agencies, and nonprofits. The bank participates in initiatives such as the Better Business Bureau’s Scam Tracker and the Aspen Institute’s Task Force for Fraud & Scams. It also maintains direct relationships with other major banks and works with organizations like the National Elder Fraud Coordination Center (NEFCC) to combat large-scale scam operations targeting older adults.
Sparks emphasized the need for cooperation among telecom companies, social media platforms, government entities, law enforcement agencies, and financial institutions: “No single company can see the full picture to stop it on their own.” He added that improved data-sharing frameworks would help close gaps exploited by criminals.
For consumers seeking protection against these crimes, Sparks advised staying informed through alerts from their banks and taking time before responding to suspicious messages or requests. “Most importantly, slow down. Scammers rely on emotion: fear, urgency, and panic. If something feels off, take time and verify it,” he said.
Capital One has developed systems designed to block fraudulent transactions automatically or pause suspicious activity for further review by agents who contact customers directly.
Frontline associates play a key role in supporting targeted customers by combining fraud detection skills with empathy and clear communication during stressful situations. According to Sparks: “Our agents are trained to help customers calm down, think clearly, and step out of that emotional pressure.”
He distinguished Capital One’s strategy from others by emphasizing real-time technology investments alongside customer education efforts: “We take it further by investing in real-time technology, stronger merchant verification, and systems to block suspicious activity automatically.”
Sparks concluded by noting the broader impact of fighting scams: “Because here’s the truth: this isn’t just about protecting customers’ money. The money stolen from scams funds larger criminal networks — the same ones involved in human trafficking and terrorism. Every time we stop a scam, we’re cutting off funding that fuels those operations.”
More information about scam prevention can be found at capitalone.com/stopscams.
Chris Sparks leads enterprise initiatives at Capital One focused on advanced analytics and partnerships across industry sectors aimed at protecting consumers from financial crime.