Alumnus Recognized for Leadership and Decades of Service Thwarting Fraud

When Allen Love '88, '90 MPA was finishing his master’s degree at the University of New Haven, one of his professors asked him if he’d ever considered becoming a federal agent. While he had not, he told his professor he’d consider it. He was then directed to the Criminal Investigation Division of the IRS – a unit that, at the time, he didn’t even know existed.

After he applied and was selected for a position at the IRS, Love began a rigorous training process that included financial crime training in the classroom. Immediately fascinated by what he learned, Love began what would become a distinguished career in financial crime prevention.

Love, who heads the Global Control Defense Group for TD Bank, was recently recognized by Savoy Magazine, which included him in their 2022 list of most influential Black executives in corporate America.

“It is an honor to be recognized by Savoy Magazine,” said Love, who has been a member of the University’s Board of Governors for nearly a decade. “It is one of the top business publications out there. My reaction was one of joy and accomplishment.”

‘I am passionate about this work’

Love has been involved with preventing financial crime and money laundering throughout his career. A previous vice president and compliance officer for the Depository Trust Clearing Corporation, he has also served as director of the Forensic Investigation Unit at KPMG, where he led proactive and reactive anti-money laundering and fraud assessments. And he has worked for PayPal and for GE Commercial Finance, where he held positions focused on anti-money laundering.

A member of the Association of Certified Anti-Money Laundering Specialists, Love was also a member of the original El Dorado Task Force that addressed money laundering in regards to narcotics trafficking at the Mexican border and throughout the U.S. in the early 1990s.

“I am passionate about this work because it allows me to help people,” said Love, who, as head of TD Bank’s Global Control Defense Group, oversees global security and investigations, fraud risk management, and insider and conduct risk and privacy. “Protecting people and the integrity of our financial system means a great deal to me. I have seen firsthand the devastation financial crime can cause to individuals and communities.”

‘Fertile ground for hackers and fraudsters’

The specifics of financial crime – including security, fraud, and money laundering – have, Love says, changed significantly since the pandemic started. He says fraud and attempted fraud from the U.S. government loan and payment programs, while still being calculated, are already well into the hundreds of millions of dollars. He also explains that there have been major increases in cyber fraud.

“... your education and experiences at the University of New Haven will prepare you for whatever role or career you pursue, and you can go as far as you desire. Follow your passion and don't compromise your values.”Allen Love '88, '90 MPA

“The disparity between who received or qualified for funds was and continues to be alarming,” he said. “With more people having to stay home, a record number of people were online, and this was fertile ground for hackers and fraudsters. This enabled them to access people's accounts, steal their identities, or create new ones. This heightened the need to ensure that people and companies had proper awareness and controls to protect their privacy.”

‘You can go as far as you desire’

Love says that his time as a Charger played an integral role in preparing him to succeed in the workforce. His campus security work experience helped prepare him for his career in financial security thanks, in part, to the support and guidance of his role models and mentors. It was being a member of the Chargers football team that, he says, was his most “impactful” time at the University.

As a student-athlete, Love says he learned how to navigate personal and professional relationships. He also was inspired by the hard work, dedication, and success of his fellow student-athletes, including the women’s basketball team that went on to become NCAA Division II national champions while he was an undergraduate.

“Seeing the successes of those other programs was additional motivation for me to do my part to make sure football rose to the top,” he said. “I had the opportunity to meet and interact with people from all walks of life, different races, religions, and cultures. We were all bound together with the common goal of winning. What we did not know is that we would build lasting friendships and give back to the school that gave each of us so much.”

Love hopes that his own experiences and success will inspire current students and future industry leaders. He encourages students to continue to work hard, to keep an open mind, and not to be afraid to challenge the status quo.

“I hope a takeaway is that future Black leaders and students will see and know that there are people who look like them in senior executive positions,” he said. “Also, your education and experiences at the University of New Haven will prepare you for whatever role or career you pursue, and you can go as far as you desire. Follow your passion and don't compromise your values.”