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. What you’ll hear in this episode:How Dodd-Frank and post-crisis regulation helped shape the fintech ecosystem we know todayWhy banks stepping away from certain customer needs opened the door for fintech growthWhat the pre-vendor world looked like for fraud and compliance teams building tools from scratchWhy fraud vendor infrastructure, orchestration layers, and fraud consortium data changed the way teams manage riskWhat fraud teams miss when they hear “one API” and assume payment infrastructure is simpleHow payment rail reversibility, ACH fraud, Reg E fraud, and tokenized credentials create hidden operational riskWhy global USD accounts and global money movement require strong digital fingerprinting and risk-based controlsHow agentic AI fraud tools may reshape investigations, fraud operations, and human review over the next five yearsWhy the “front door” is one of the most important places to invest when building a fraud program You should listen to this episode if you:Work in fraud operations, payments, fintech, banking, risk, or complianceWant to better understand the hidden fraud infrastructure behind modern payments infrastructureAre evaluating fraud tooling, fraud vendor infrastructure, or payment orchestration partnersNeed a clearer view of payment rail reversibility, ACH reversibility, Reg E fraud, or global money movement riskAre thinking about agentic AI fraud, AI fraud agents, digital fingerprinting, and where humans should remain in the loop
