Trace Fooshee

Trace Fooshee

Senior Analyst

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

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

Mr. Fooshee 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, Mr. Fooshee 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, Mr. Fooshee partnered with stakeholders in various business units, including product, technology, and risk management, to govern and oversee the bank’s fraud program. Mr. Fooshee’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, Mr. Fooshee 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.

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


Thursday, April 22, 2021 | 11:00 a.m. ET
The Dreaded Trinity of Identity Theft, Application Fraud, and Account Takeover, commissioned by Accertify and produced by Aite Group, examines trends in identity theft, application fraud and account takeover (ATO) to reveal insights into how each of these criminal activities relate to one another...
Tuesday, March 30, 2021 | 11:00 a.m. ET
Money mules have become a modern day gold rush for cybercriminals with more than 90% of money mule transactions linked to cybercrime. The explosive growth of digital payments during the pandemic combined with global economic relief programs, such as unemployment benefits and government stimulus...

Analyst Views

July 8, 2021
On June 4, 2021, the Consumer Financial Protection Bureau (CFPB) released a “Frequently Asked Question” bulletin designed to provide guidance to consumers and financial institutions (FIs) around compliance with the Electronic Funds Transfer Act (EFTA) and Subpart A of Regulation E (Reg E). Among the many helpful insights that the FAQ bulletin shared were several questions that reveal the bureau’s...
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