Anna Milne, founding director of research for the CAFE Association, said that membership focuses on industry leadership that combines innovation with consumer protection, rather than merely adhering to baseline compliance. This statement was made in a press release.
“Joining CAFE isn’t only about minimal compliance,” said Milne. “it’s about consumer-friendly industry leadership. This is where good actors come together to demonstrate how consumer protection and innovation coexist.”
The CAFE Association is reported as a nonprofit organization inviting operators to collaborate on education, research, and standards supporting consumers. The approach acknowledges that fraud affects various financial products and payment methods, not limited to cryptocurrency. The coalition model places crypto protections within broader industry-wide anti-fraud practices.
According to data from the Federal Trade Commission (FTC), there was a broad rise in consumer fraud losses amounting to $12.5 billion in 2024, with investment scams being predominant. These data reflect harms across various channels commonly used in finance, including bank transfers, cards, and digital assets. These figures provide a cross-market context for prevention initiatives pursued by industry groups.
FinCEN’s analysis highlights mail-theft-related check fraud as a significant fraud vector alongside digital schemes. In a six-month review period, financial institutions reported thousands of incidents and hundreds of millions in suspicious activity. This complements crypto-focused data and demonstrates multi-rail exposure.
The CAFE Association’s launch announcement names Milne as the founding director of research. The release describes her role alongside the executive leadership team, supporting research outputs and practical resources for operators. Her appointment is part of an initiative addressing fraud appearing across multiple payment methods, not only cryptocurrency.
