Trace Fooshee

Trace Fooshee

Strategic Advisor

Areas of Expertise: Authentication, Bank and Payments Fraud, Machine Learning and AI

Trace Fooshee is a Strategic Advisor in Aite-Novarica’s Fraud & AML practice, covering fraud and data security issues.

Trace has been leading business transformation initiatives for over 20 years. He started his professional career in Singapore, where he focused on delivering process automation solutions for banking and securities clients by way of workflow and document management-based transformations. After moving back to the United States, he broadened the scope of his focus to include consulting with clients on customer relationship management practices and client loyalty for Ernst & Young.

Prior to joining Aite-Novarica, Trace was Head of Fraud Strategy for SunTrust Bank, where he was responsible for developing, managing, and articulating strategic investments and transformation initiatives that sought to improve the balance between loss prevention, client experience, and operational expense. In addition to these responsibilities, Trace partnered with stakeholders in various business units, including product, technology, and risk management, to govern and oversee the bank’s fraud program. Trace’s experience in fraud management started in 2007 when he began working with the bank’s fraud management unit to transform it from a federated operating model to a consolidated enterprise shared service. By 2010 he joined the bank’s fraud unit full time to lead the development and deployment of a fraud analytics team. In 2014 he joined Deloitte’s advisory group, where he provided strategic advisory consulting services for financial institutions globally, then returned to SunTrust in 2017 as Head of Fraud Strategy.

A former member of the Bank Policy Institute’s BITS Fraud Reduction Steering Committee, Trace has also been active with the American Bankers Association and National Cyber Forensic Training Alliance Foundation. He has also spoken at several industry conferences, including BAI, BITS, and NACHA conferences, on topics related to payments and fraud prevention.

Trace holds a B.A. in Psychology from the University of North Carolina at Chapel Hill.


Tuesday, June 27, 2023 | 11:00 a.m. ET
Join us for an insightful webinar as we delve into the transformative market forces that are reshaping how financial institutions (FIs) combat financial crime. In particular, we will explore the growing concern of money muling and its impact on FIs' strategies, organizational structures, and...
Wednesday, June 14, 2023 | 12:00 p.m. ET
Join Aite-Novarica Group Strategic Advisor Trace Fooshée and Mitek Vice President of Digital Banking Strategy Kerry Cantley for this webinar where they'll discuss: The acceleration of check fraud and how it's impacting your customer experience Why consumer scams and...


June 16, 2023
In previous reports about mule activity, I’ve endeavored to outline the rationale and benefits of taking a more deliberate approach toward proactive mule detection and prevention. My discussions with fraud executives, AML executives, and solution providers have culminated in the following observations: Money mules are the logistic network upon which Fraud Inc.’s value chain is built. Mule...
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July 18, 2022
As part of Aite-Novarica’s Top 10 Trends in Fraud & AML, 2022: Braving the New Normal in January of this year, I predicted that regulatory pressure would increase due to a rise in scam activity. While I have yet to see much evidence of an increase in actions against financial institutions (FIs) by regulators, you don’t have to look very hard to see that consumers are beginning to show signs...
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