Joseph Pitts actually said...

"We cannot rest on our laurels and be satisfied with the current successes in fraud fighting."

"the history certainly has been of a predominantly pay-and-chase approach, and that is what the Fraud Prevention System is changing"

"I haven't seen one indication that CMS truly knows how much it loses each year much less whether a majority of these payments are not usually fraudulent."

"Again, credit card companies figured this out 25 years ago, and it seems like we ought to be farther along than we are now."