I doubt that the checks and measures in place in the US are any less effective than those in place elsewhere in the West.

There will always be a fight against fraud.

Working for a global bank, this is drilled into us constantly. Every member of staff has to attend occasional mandatory courses and regulatory updates on fraud, along with money-laundering and anti-terrrrrrzm. The bank is fined by the UK regulatory body if we do not have effective measures against such things.

I would think the US's financial regulatory bodies have similar rules.