In short
- Office of the Comptroller of the Currency announced a new tool for community bankers to report suspected payments fraud involving OCC-regulated institutions on October 6.
- Office of the Comptroller of the Currency highlighted Treasury's screening of more than 1.1 billion federal payments totaling approximately $3.7 trillion in the last fiscal year.
What happened
Comptroller Jonathan V. Gould convened a panel of community bankers in Minneapolis, Minnesota, on October 6 to discuss recent financial fraud trends and the OCC’s commitment to supporting banks. He emphasized the sharp rise in non-mortgage fraud and check fraud reports in Minnesota between 2020 and 2024, noting the diversion of billions of dollars intended for vulnerable groups.
The OCC announced the launch of a new tool for community bankers to directly report suspected payments fraud involving OCC-regulated institutions to an OCC fraud taskforce. Comptroller Gould also reminded banks of OCC Bulletin 2026-30, which covers FinCEN 314(b) guidance for enhanced information sharing to detect and thwart fraud.
In numbers
- 300% Increase in check fraud SAR filings in Minnesota 2020-2024
- 1.1 billion Federal payments screened by Treasury last fiscal year
- $3.7 trillion Total value of federal payments screened by Treasury
What compliance teams should check
- Review OCC Bulletin 2026-30 for FinCEN 314(b) guidance on voluntary information sharing.
- Utilize the new OCC tool to report suspected payments fraud involving OCC-regulated institutions.
- Monitor trends in non-mortgage and check fraud reports in Minnesota, as highlighted by Comptroller Gould.
Why it matters
This story underscores the rapid escalation of financial fraud in Minnesota, with check fraud SAR filings rising nearly 300% between 2020 and 2024. The OCC’s new reporting tool and emphasis on information sharing via FinCEN 314(b) guidance provide compliance officers with actionable resources to detect and report fraud. Enhanced screening and reporting mechanisms are critical for protecting vulnerable populations and maintaining the integrity of the U.S. financial system amid increasing fraud threats.
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Comptroller of the Currency Jonathan V. Gould today convened a panel of community bankers in Minneapolis, Minnesota, to discuss ongoing efforts to combat financial fraud.Office of the Comptroller of the Currency, 7 Oct 2026, 12:10 UTC, occ.gov