The Knoble, a nonprofit that brings banks, credit unions, payment networks and law enforcement together to detect elder and child exploitation and human trafficking, has worked with more than 600 banks.

The five-part framework suggests both technical and governance solutions to protect consumers from losing money to scammers and fraudsters.

The Treasury's financial crimes arm alerted banks to the dangers of AI-powered fraud, urging close monitoring and swift reporting of any suspicious activity.

Recent multimillion-dollar elder fraud cases are leading to lawsuits and possible regulatory action. 

Anthony Gressak III, who also served as interim CEO of Nano Banc, allegedly obtained pandemic relief funds fraudulently.

As long as fraud-prevention efforts remain siloed and bank-specific, perpetrators remain free to employ the same strategies over and over. Banks need to do a better job of sharing information and collaborating.

Daria Sewell pleaded not guilty to possessing customers' personally identifiable information. The case adds to the Canadian bank's anti-money-laundering woes.

This month's roundup includes items on TD Bank Group's asset cap and $3 billion in money-laundering fines, the Consumer Financial Protection Bureau's final rule on open banking and more.

The supposed glitch was simply check fraud. The bank is suing four people who allegedly took as much as $290,000 from the bank as part of the scheme.