OCC Launched Fraud Reporting Tool in Minneapolis

The agency introduced a new system for community banks to combat rising financial fraud in Minnesota.

Updated on Oct. 7, 2026 in Financial Crime

Bold flat-color editorial illustration of a heavy stone facade with an angular window, evoking institutional financial security. — The Office of the Comptroller of the Currency launched a fraud reporting tool in Minneapolis to help community banks combat rising regional financial crimes. AI Illustration. Upload story photo >

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U.S. Comptroller of the Currency Jonathan V. Gould convened a roundtable in Minneapolis to address a surge in local financial crimes. The OCC subsequently launched a new reporting tool for community bankers to flag suspected payments fraud in real time.

Why it matters

The initiative aims to curb the rapid growth of check and healthcare-related fraud within Minnesota. By facilitating better information sharing, the OCC seeks to empower local institutions to identify and report suspicious activities more effectively.

Check fraud filings surged by 87% between 2021 and 2022 and rose another 70% year-over-year as of July 2024. Additionally, authorities identified over $17 billion in suspicious activity linked to healthcare fraud nationwide.

The players

Jonathan V. Gould

He is the U.S. Comptroller of the Currency who oversees the regulation of national banks and federal savings associations.

Office of the Comptroller of the Currency

This federal agency is an independent bureau within the United States Department of the Treasury that charters and regulates national banks.

Financial Crimes Enforcement Network

This bureau of the U.S. Treasury collects and analyzes information about financial transactions to combat domestic and international money laundering.

Al-Shabaab

This is a militant group based in Somalia that has been the focus of U.S. Treasury investigations regarding the potential diversion of funds.

The details

The Minneapolis OCC field office currently serves more than 50 national banks and federal savings associations that must navigate these increased security threats. Beyond local check fraud, the Treasury Department is investigating four money services businesses regarding funds potentially diverted to Al-Shabaab.

2020-2024 saw a doubling of non-mortgage fraud reports in Minnesota.
Check fraud filings rose 87% from 2021 to 2022.
Check fraud filings rose 70% year-over-year in July 2024.
The Comptroller held a roundtable in Minneapolis on October 6, 2026.

Legal Context

The OCC's new reporting mechanism updates the operational framework banks use to fulfill their suspicious activity reporting obligations under the Bank Secrecy Act. This reflects an industry-wide push to modernize compliance systems against increasingly sophisticated digital and paper-based fraud schemes.

Local residents may see increased scrutiny of financial transactions as banks adopt these new reporting protocols. These measures aim to protect community members by reducing the success rate of check and healthcare-related fraud schemes.

The takeaway

Financial institutions are increasingly prioritizing real-time data sharing to combat rapid spikes in check fraud. Customers should remain vigilant and regularly monitor their accounts for unauthorized activity.