News Release 2026-86|October 7, 2026
Comptroller Gould Announces New Efforts to Combat Financial Fraud in MinnesotaComptroller affirms support for community banks to combat fraud;
Reemphasizes banks’ role on the front lines of protecting consumers
WASHINGTON—Comptroller of the Currency Jonathan V. Gould convened a panel of community bankers in Minneapolis, Minnesota, October 6 to discuss ongoing efforts to combat financial fraud.
The Comptroller’s visit supports the Trump Administration’s priority to eliminate fraud and protect Americans from illicit activity. In a discussion with local community bankers, the Comptroller discussed recent financial fraud in Minnesota, the role of banks to identify and combat fraud, and the Office of the Comptroller of the Currency’s (OCC) commitment to support banks in their efforts.
“Minnesota has seen fraud spiral out of control in recent years. Non-mortgage fraud reports in Minnesota more than doubled between 2020 and 2024, and filings of suspicious activity reports related to check fraud increased nearly 300% during that same period,” said Comptroller Gould. “Billions of dollars intended for hungry children, housing for disabled seniors, and services for children with special needs were diverted to people who cheated the system, some of whom are not even American citizens. The OCC is committed to supporting community banks in the fight against fraud and participating in a whole-of-government effort to stop those who seek to exploit the U.S. financial system or prey on American families and taxpayers.”
In his discussion with community bankers, Comptroller Gould discussed the OCC’s tools and resources to support bank efforts to report fraud and keep their customers and communities safe. Comptroller Gould 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. He also reminded banks of the OCC’s bulletin on the U.S. Department of the Treasury’s Financial Crimes Enforcement Network 314(b) guidance that enhances information sharing across institutions and helps banks detect and thwart fraud more effectively.
| Minnesota Fraud Facts for 2026 | ||
|---|---|---|
| Source: Federal Trade Commission Consumer Sentinel Network | ||
| Number of Fraud Reports: 15,601 | Total $ Loss: $86.5 Million | Median $ Loss: $288 |
He also highlighted the success of Treasury’s Do Not Pay program to prevent fraud and improper payments to better protect taxpayer dollars. In the last fiscal year alone, Treasury screened more than 1.1 billion federal payments totaling approximately $3.7 trillion. Through these screenings, Treasury identified and returned approximately 13,500 payments totaling $175 million that would have gone to deceased individuals.
The OCC remains committed to addressing fraudulent activities that can harm banks and consumers.
Related Links:
- Comptroller Remarks at Fraud Panel with Community Bankers in Minneapolis (PDF)
- Comptroller Press Briefing on Efforts to Combat Financial Fraud in Minneapolis
- OCC Bulletin 2026-30: Notification: FinCEN Guidance on Voluntary Information Sharing
- Consumer Fraud Awareness and Prevention
- Safe Money – Guarding Against Financial Frauds & Scams
- Fraud Resources
- Fraud & Scams
Media Contact
Stephanie Collins
(202) 649-6870