Adena Friedman proposed a national fraud strategy bringing together banks, technology companies, telecommunications providers and law enforcement agencies. The framework would rely on responsible information sharing, common practices and legal immunity that allows institutions to cooperate without creating new regulators or mandates. It would also provide for joint suspicious activity reports to better identify scams moving funds across multiple institutions. An estimated $4.4 trillion was laundered globally in 2025, fraud losses reached $579 billion, and nine out of ten financial crime professionals reported an increase in AI-driven attacks.
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