Nasdaq CEO calls for a national strategy as global fraud losses reach $579B

As AI helps criminals scale scams, Nasdaq’s Adena Friedman says financial institutions, tech companies and law enforcement need to work together to stop fraud. (Credit: Getty Images)

Good morning. As fraud losses mount and criminals use AI to scale their operations, Nasdaq Chair and CEO Adena Friedman is calling for a national strategy to coordinate efforts across the financial system and beyond.

Friedman proposed a National Fraud Strategy at an American Banker event on Tuesday, arguing that information sharing, common best practices and legal safe harbors could help financial institutions, technology companies, telecommunications providers and law enforcement disrupt criminal activity.