What’s up fraud fighters, and welcome back to Fraud Forward:

Y’all, this episode is one of those conversations where I found myself taking notes while we were recording. Matt Janiga from Modern Treasury joined me to talk about hidden fraud infrastructure.

We talk all the time about faster payments, one API, better vendor tooling, AI agents, global money movement, and payment modernization. But underneath all of that is a much more complicated reality. There are payment rails, reversibility rules, KYC requirements, digital fingerprints, transaction monitoring decisions, consortium data, fraud operations workflows, and infrastructure choices that determine what fraud teams can actually see and stop.

And here is the thing: fraud does not live in silos, and neither does the infrastructure that moves money.

Matt has worked across regulation, fintech infrastructure, compliance, payments, and risk, with experience touching Dodd-Frank, Square, Stripe, Lithic, and now Modern Treasury. So this conversation gives us a really practical look at how the industry moved from the pre-vendor world, where teams were basically building fraud and compliance tools from scratch, into a world where specialized partners, orchestration layers, and agentic AI are changing what fraud teams can do.

For my credit union and community bank folks especially, this matters because you do not have to build everything alone anymore. A rising tide lifts all boats, and the more we understand the hidden fraud infrastructure behind modern payments, the better we can ask questions, pressure test controls, and protect the people we serve.

• How Dodd-Frank and post-crisis regulation helped shape the fintech ecosystem we know today
• Why banks stepping away from certain customer needs opened the door for fintech growth
• What the pre-vendor world looked like for fraud and compliance teams building tools from scratch
• Why fraud vendor infrastructure, orchestration layers, and fraud consortium data changed the way teams manage risk
• What fraud teams miss when they hear “one API” and assume payment infrastructure is simple
• How payment rail reversibility, ACH fraud, Reg E fraud, and tokenized credentials create hidden operational risk
• Why global USD accounts and global money movement require strong digital fingerprinting and risk-based controls
• How agentic AI fraud tools may reshape investigations, fraud operations, and human review over the next five years
• Why the “front door” is one of the most important places to invest when building a fraud program

• Work in fraud operations, payments, fintech, banking, risk, or compliance
• Want to better understand the hidden fraud infrastructure behind modern payments infrastructure
• Are evaluating fraud tooling, fraud vendor infrastructure, or payment orchestration partners
• Need a clearer view of payment rail reversibility, ACH reversibility, Reg E fraud, or global money movement risk
• Are thinking about agentic AI fraud, AI fraud agents, digital fingerprinting, and where humans should remain in the loop