Fraud Controls Are Everywhere. So Where’s the Accountability?

What’s up fraud fighters, and welcome back to Fraud Forward!
I want to talk about something that might be a little uncomfortable. It isn’t about a new scheme or a criminal using AI to break into a bank. It’s about our own fraud controls, and the gap between having them and knowing they work.
Two stories from the past week made me want to have this conversation. The first is a $350 million penalty against American Express National Bank tied to deficiencies in its BSA and AML program. The second is a guilty plea from a former TD Bank employee who admitted to accepting bribes and helping…