Advantages of cross-industry collaboration in fighting financial crime with Mark Solomon

What is up fraud fighters, and welcome to Fraud Forward!

Today we’re talking about something that every fraud investigator eventually learns the hard way.

Financial crime does not stay inside one institution.

It doesn’t stay inside one state.
It doesn’t stay inside one country.
And it definitely doesn’t stay inside one industry.

Modern fraud schemes move across banks, fintechs, retailers, payment platforms, cryptocurrency exchanges, and international jurisdictions. Organized financial crime networks share information and infrastructure quickly.

Which means if investigators are working in isolation, criminals already have the advantage.

That’s why today’s conversation focuses on the advantages of cross-industry collaboration in fighting financial crime.

I sat down with Mark Solomon, International President of the International Association of Financial Crimes Investigators, or IAFCI. Mark has more than three decades of experience in law enforcement fraud investigations and financial crime work across public and private sectors.

And what really stood out in this conversation is how critical professional networks have become for investigators.

Fraud investigators today are dealing with cases involving digital payments, cryptocurrency fraud investigations, identity abuse, and cross border financial crime activity. These cases rarely stay within a single institution.

They require intelligence sharing.

They require collaboration.

And they require investigators who understand how to work across industries.

What you’ll hear in this episode

• Why cross-industry collaboration is becoming essential for financial crime investigators
• How IAFCI helps investigators share intelligence and coordinate globally
• Why professional investigator networks matter more than ever
• How cryptocurrency is adding new complexity to financial crime cases
• Why public-private collaboration improves investigation outcomes

You should listen to this episode if

• You work as a fraud analyst or financial crime investigator
• You support AML, compliance, or fraud investigations
• You collaborate with law enforcement on financial crime cases
• You want stronger intelligence sharing across institutions
• You care about building a stronger financial crime investigator community

If you liked this episode, be sure to subscribe and review the podcast on iTunes, Spotify, YouTube, or wherever you listen to podcasts. It really helps more fraud fighters find these conversations.

Episode notes & key takeaways

Before we double click on the notes, I just want to say that my marketing team told me I need to structure these notes a certain way in order for people to find my podcast. The below is a bit of that 😀.

The advantages of cross-industry collaboration in fighting financial crime

Let’s reset the room for a moment.

Criminal networks share intelligence quickly. They reuse infrastructure. They move money across industries and jurisdictions without hesitation.

Investigators cannot respond effectively if information stays siloed.

That’s why the advantages of cross-industry collaboration in fighting financial crime are so significant.

When investigators share intelligence across institutions and industries, they can:

• Identify patterns earlier
• Reduce investigative delays
• Coordinate disruption of organized financial crime
• Strengthen evidence development
• Improve case outcomes

Collaboration transforms individual investigations into coordinated disruption.

IAFCI as a global fraud intelligence network

The International Association of Financial Crimes Investigators plays an important role in this collaboration.

IAFCI connects thousands of financial crime investigators across banking, retail, insurance, law enforcement, and other sectors.

Through conferences, training programs, and regional events, IAFCI supports:

• Fraud intelligence sharing between investigators
• Cross-border investigative coordination
• Professional development for investigators
• Emerging threat education such as cryptocurrency fraud investigations

These investigative fraud networks allow investigators to share insights that might otherwise remain isolated within individual organizations.

Cryptocurrency and cross-border crime increase complexity

One of the biggest challenges investigators face today is the rapid growth of digital financial crime.

Cases increasingly involve:

• Cryptocurrency transactions
• Cross-border financial crime activity
• Identity abuse across platforms
• Rapid digital fund movement

These trends make international fraud investigations significantly more complex.

Investigators often must coordinate across institutions, law enforcement agencies, and international partners to preserve evidence and track transactions.

Collaboration becomes critical for successful disruption.

Where financial crime programs are most vulnerable

Financial crime programs face increased risk when information stays siloed.

Programs are most exposed when:

• Intelligence sharing is delayed
• Cross-industry communication is limited
• Fraud and AML teams operate independently
• Training lags behind emerging threats
• Investigative resources are stretched

Cross-industry collaboration reduces these blind spots and strengthens fraud investigation best practices.

Fraud investigator responsibility extends to coordination

One of the things Mark emphasizes in this conversation is that investigators have a responsibility not only to solve cases but also to coordinate intelligence.

The fraud investigator community plays a critical role in strengthening financial crime awareness across institutions.

Through collaboration, investigators can:

• Share emerging fraud typologies
• Support coordinated enforcement
• Improve investigative response times
• Strengthen fraud prevention leadership

Ultimately, the advantages of cross-industry collaboration in fighting financial crime extend beyond individual cases.

They help build stronger institutional resilience and more effective global fraud disruption.