Nasdaq CEO Proposes National Anti-Fraud Strategy
The plan aims to curb rising global financial losses through public and private sector collaboration.
Updated on Oct. 24, 2026 in Financial Crime
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Nasdaq CEO Adena Friedman is calling for a unified national strategy to combat financial fraud in the United States. This framework seeks to unite financial institutions, law enforcement, and technology companies to address rapid increases in illicit activity.
Why it matters
Financial crimes have become too complex and fast-moving for individual institutions to combat on their own. By fostering cross-sector information sharing and legal safe harbors, the proposal aims to create a more resilient defense against evolving threats.
A survey of 505 financial-crime professionals found that 90% have seen an increase in AI-driven attacks over the past two years. The proposed strategy aims to formalize responses through joint Suspicious Activity Reports and shared industry practices.
The players
Adena Friedman
Adena Friedman is the chief executive officer of Nasdaq, a global technology company serving the capital markets and other industries.
Nasdaq
Nasdaq is a multinational financial services corporation that owns and operates several stock exchanges and provides market technology solutions.
The details
The proposal advocates for a cohesive approach that integrates telecommunications, payment networks, and government agencies. By adopting common standards and leveraging feedback from law enforcement, the initiative intends to bridge gaps in current detection capabilities.
Timeline
Fraud losses grew at a 9.2% annual rate between 2023 and 2025.
Global fraud losses reached $579.4 billion in 2025.
Nasdaq CEO Adena Friedman proposed the strategy on October 20, 2026.
Legal Context
The proposed strategy updates the information-sharing framework established by the Bank Secrecy Act to reflect modern digital fraud challenges. This shift signals a move toward collective defense models in response to the rise of systemic, AI-facilitated financial crime.
The initiative may lead to new security measures and verification standards for everyday banking and payment transactions. Residents could see improved protection against scams as banks and telecom providers adopt more uniform, intelligence-driven anti-fraud protocols.
The takeaway
Rising fraud costs underscore the critical need for increased vigilance among consumers when interacting with digital financial platforms. Implementing stronger personal authentication methods remains a proactive step to mitigate individual risk until national strategies are fully adopted.
Further reading
For additional context on how regulatory bodies address illicit activity, see our Financial Crime section.
Source note: This article includes information reported by TokenPost.
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Should financial institutions and government agencies share more data to help prevent financial fraud?
