Jason Bartolacci
Director of the Fraud Alert Network
Jason Bartolacci is Director of the Fraud Alert Network at ProSight and a Certified Fraud Examiner (CFE) with more than 25 years of experience in fraud risk management, cyber threat intelligence, and financial crimes investigations. He co-founded Red Team 27, where he advanced intelligence-driven fraud readiness, and has built his career across law enforcement, AML, and cyber financial investigations. Jason is also a member of the International Association of Financial Crimes Investigators (IAFCI).
Fraud threats aren’t standing still—and neither can banks. Check fraud is back. Card-not-present fraud is rising. Synthetic identities are harder to spot. And fraudsters are better organized than ever. As Jason Bartolacci, director of ProSight’s Fraud Alert Network, put it recently, the threat landscape is expanding. Institutions can’t go it alone and neither can any individual banking department.
The good news: There are proven ways to push back. From his work leading ProSight’s Fraud Alert Network and engaging with peers across the industry, Bartolacci highlights five urgent trends—and the practical steps banks can take to fight back:
- Don’t underestimate old scams. Check fraud is up 385% since the pandemic. Criminals are raiding mailrooms and using brake fluid to wash checks clean. In 2024, only 22% of affected organizations recovered at least 75% of stolen funds—down from 41% the year before. Even the U.S. Treasury, which still issues billions in paper checks, is feeling the pressure.
- Breached data is fueling synthetic IDs. In 2024 alone, six “mega-breaches” triggered 1.7 billion victim notices. Criminals are combining real data with fake details to create new identities that sail past fraud filters. With no victim to report, alerts are delayed. Meanwhile, card-not-present fraud continues its surge, with global losses projected at $400 billion over the next decade.
- Human weakness is the easiest target. Social engineering remains rampant. In recent exercises, testers bypassed one-time passcodes simply by persuading call center agents to help. Branches and call centers are “soft targets,” lacking the strong authentication of digital channels. Training and vigilance across the enterprise are essential.
- Fraud against older adults is exploding. Losses from scams targeting seniors hit $4.8 billion in 2024—a 43% jump from 2023. Bartolacci warned that the true figure could be 10 times higher. From courier scams to fake emergency appeals, the playbook is expanding—and shame and silence make reporting even harder. For more, read this BAI Banking Strategies article: “Limit elder financial abuse through transaction monitoring and staff training.”
- Collaboration isn’t optional. While 61% of banks see value in fraud consortiums, only 16% actively participate. That gap leaves the door open for organized criminals. ProSight’s Fraud Alert Network is one effort to close it—offering a secure space for verified banks to share real-time threat data and learn from one another.
“Fraudsters move fast and work together,” Bartolacci said. “Banks need to do the same.”
Two resources banking staff should bookmark
Bartolacci points to two organizations he follows closely for open-source insights and professional exchange:
- IAFCI (International Association of Financial Crimes Investigators): A professional association offering investigative resources, training, and networking for those combatting financial crime worldwide. Bartolacci follows IAFCI’s LinkedIn group, where members regularly share case studies, red flags, and emerging fraud schemes.
- ACFE (Association of Certified Fraud Examiners): The world’s largest anti-fraud organization and training body for fraud examiners. Its publications and LinkedIn community provide timely articles and practical guidance accessible to professionals outside of dedicated fraud teams.
These aren’t the only tools available, but they’re a reminder that effective fraud prevention isn’t just about technology. It’s also about tapping into trusted communities of practice, sharing intelligence, and staying plugged into the conversation.
What’s Next: Fraud on the agenda this October
Fraud will also be a major focus at ProSight’s Annual Risk, Compliance & Fraud Virtual Conference (October 27–30, 2025), including these sessions:
- Charting a Course Through the Current Fraud Threat Landscape (Oct. 27) – A look at emerging scams and the role of generative AI in accelerating financial crime.
- Tactics to Add to Your Fraud Prevention Toolkit (Oct. 28) – Practical strategies for strengthening early detection and pressure-testing defenses.
- Stronger Together: Uniting Fraud and Cyber Defenses (Oct. 29) – Why breaking down silos between fraud and cyber teams is critical.
- Safeguarding Against Check Fraud: Preventing Criminals From Cashing In (Oct. 30) – Expert perspectives on stopping the oldest scam in the book.
- Keynote: Inside the Mind of a Master Fraudster (Oct. 30) – Isio Nelson, managing director of fraud at ProSight, speaks with Matthew Cox, a former mortgage broker turned prolific fraudster and now true-crime author and podcaster. Together they’ll unpack how he identified and exploited weak points in loan origination and verification—and what bankers can learn from those tactics to strengthen their own defenses.
Registration is now open.
Bottom line: Fraud threats are multiplying, but so are the opportunities to learn and collaborate. From professional associations like IAFCI and ACFE to ProSight’s own Fraud Alert Network, resources are out there to help banking leaders and their teams—at every level and across business lines—to strengthen their defenses.
Don’t miss the other insights, strategies, and tools to help your institution stay ahead of evolving fraud threats in the Deep Dive: Fraud is everyone’s fight.
