Michael Schidlow, J.D., CFE

Driven by a desire to pursue justice and help those in need, Michael Schidlow, J.D., CFE, fights bank fraud as an examiner for the Office of the Comptroller of the Currency. He has years of experience investigating complex fraud rings and stolen identity refund fraud cases. He received the ACFE James R. Baker Speaker of the Year Award in 2024.

The views expressed in this article are the views and opinions of Mr. Schidlow and do not represent those of the federal government or any agency.

Interview by Anna Brahce

I grew up on the Main Line, a suburban area just outside of Philadelphia, Pennsylvania. My family often visited the Academy of Natural Sciences and the Philadelphia Zoo, both of which I volunteered at during high school. I enjoyed teaching visitors about the exhibits and testing how far I could stretch a fact before they started to question me; apologies to anyone who visited the lion exhibit in the late ’90s and was misinformed about the lions’ meal planning. 

I attended Temple University in Philadelphia and earned my law degree from a school in Wilmington, Delaware. Looking back, I think I was hardwired for justice early on. I was a school safety volunteer (basically a glorified hall monitor) by fourth grade, and even then, something about rules, structure and accountability spoke to me.

There’s a thrill to the chase in anti-fraud work, and what drew me in is the underlying sense of purpose in helping people. I’m fascinated by how the same law can be interpreted and argued differently on either side of a case, but what stands out even more are the real-world consequences. Beyond the policy breakdowns and procedural issues in many compliance failures, there are human costs and real victims.

I serve as a Bank Secrecy Act and anti-money laundering specialist examiner for the Office of the Comptroller of the Currency, focusing on international banking. To ensure a safe, sound and fair banking system, I identify and mitigate the risks of money laundering, fraud and other illicit financial activity.

My approach to investigating fraud starts by determining what allowed it to happen. I look for patterns across regulatory requirements to deduce whether there was a control failure, human error or collusive behavior. I also try to learn everything I can about an organization’s policies, procedures and product offerings because understanding the internal structure is essential to identifying causes and preventing future incidents.

I’ve learned to approach cases with a hypothesis while staying agile. Fraud typologies evolve, and anomalies deserve a second look. Fraud examiners need an open mind and a genuine curiosity about how systems work so they can focus their time and energy on the most meaningful leads.

I’ve worked on multimillion-dollar stolen identity refund fraud cases and taken down complex fraud rings. I also collaborated with U.S. federal agents on a sting operation to arrest a suspect on-site at a bank, which involved deep data analysis, surveillance and reviewing HTML cookies. I tracked the subject through data and, working with law enforcement, convinced the subject that their account was going to be elevated to a fictitious tier of banking service and they needed to come to the bank for it. 

The most meaningful cases I’ve worked on have been elder financial exploitation investigations. These victims are often isolated and taken advantage of by family members, acquaintances or caregivers. There’s nothing quite as rewarding as stopping the abuse and sometimes even recovering the stolen funds. 

One early case in my career involved an older victim whose in-laws had been draining their account via Automated Clearing House (ACH) debits. I had to learn the mechanics of ACH, map the fraud and trace the assets. The dollar amount didn’t compare to the sting operation, but the impact did. That case shaped my approach to investigations, and the letter of commendation from the U.S. Secret Service was a welcome surprise.

One of the hardest challenges in the anti-fraud field is balancing instinct with curiosity. After working on a few cases, I could usually identify a fraud typology and likely root cause just from the initial case categorization. That kind of experience helps guide an investigation, but it also comes with the risk of confirmation bias. If you follow a fraud case too linearly, you might overlook a subject, miss a traceable asset or fail to identify a deeper root cause.

I’ve learned to approach cases with a hypothesis while staying agile. Fraud typologies evolve, and anomalies deserve a second look. Fraud examiners need an open mind and a genuine curiosity about how systems work so they can focus their time and energy on the most meaningful leads. I build space in my investigations to pause, reevaluate and shift course when needed. 

While presenting to the New York Chapter of the Association of Certified Fraud Examiners (ACFE) in 2009, I quickly found camaraderie with professionals who shared the same passions and purpose. The ACFE was, and still is, incredibly service oriented. I met professors, investigators, law enforcement officers and other professionals working in the field who were also mentoring others and contributing to the broader community. It just felt like the right place, and the Certified Fraud Examiner (CFE) credential seemed like the right thing to pursue.

Beyond the subject-matter expertise and the incredible training and seminars I’ve been able to attend and present at, my favorite part of holding the CFE credential is being part of the anti-fraud community. It’s easy to find common ground with fellow CFEs, whether we’re swapping stories about cases that left a lasting impact or sharing practical tips and tools. There’s a unique sense of camaraderie and collegiality that runs throughout the profession.

I also deeply enjoy the ACFE Mentoring Program and routinely try to get others to participate. It’s another way to pass on lessons learned, including successes and cautionary tales, to emerging professionals or those shifting their career trajectory. That spirit of shared growth and support really sets the CFE credential apart.

My career advice for anyone new to the fraud-fighting field is to ask questions early on. Fraud can be nebulous, acronym-heavy and, at times, overwhelming. Even figuring out where to start can feel daunting. Some fraud schemes are so convoluted you wonder why someone didn’t use those skills to help humanity instead. 

That’s where curiosity and collaboration come in. Someone, somewhere, has likely faced a similar challenge. Asking questions builds knowledge and fosters a team culture where learning is shared. 

It’s hard to pinpoint my greatest achievement. I’m always honored to receive awards and recognition, but I’m proudest of the times when I’ve made the effort to offer guidance to someone willing to listen. Years ago, a well-known professional and fellow CFE took time out of their day to talk with me about different career paths. That moment stuck with me, and I’ve done my best to emulate it ever since. 

One of my favorite hobbies that allows me to rest and reset is bird watching. I find ornithology a relaxing way to exercise my investigative skills and have fun creating acronyms, including “know your bird” (KYB). 

Beyond that, if you ever see me taking notes during a conference session, there’s a solid chance it has something to do with how I’ll decorate my yard for Halloween, which is my other year-round hobby.

Anna Brahce is the assistant editor of Fraud Magazine. Contact her at abrahce@ACFE.com.