Big problems require big ideas. How about establishing a White House office of fraud and scam prevention? Or closing loopholes so telecoms stop spoof calls and texts? And ensuring social media companies quickly take down impersonation accounts? On this edition of the ABA Fraudcast, we include Paul Benda's opening statement addressing these challenges and others as delivered recently to the House Financial Services Subcommittee on Oversight and Investigations, as well as his analysis of the urgency of a coordinated response from lawmakers and law enforcement.

Read Paul Benda's full opening statement and check out video here.

Also mentioned: Benda will be speaking at the ABA Financial Crimes Enforcement Conference, Oct. 14-16 in Arlington, Virginia. And ABA is launching updated Banks Never Ask That and Practice Safe Checks consumer awareness campaigns.