In my experience, as far as a cutting is concern, mold can be one of two things:
1. If it is merely surface mold, meaning if you use your finger to brush it away the cutting still looks fine, then it is not fatal, possibly a sign of excess humidity, but maybe just part of the process. For example, if a bit of leaf or fig was left on a cutting, or just dirt, etc, then this can develop a bit of mold on the outside of the cutting. I have frequently had a bit of this type of mold and the cutting has turned out fine.
2. If it is actually feeding on the cutting itself, meaning if you push on where it is and the cutting is soft or wet or mushy, then that part of the cutting (at a minimum) is already dead. This does not bode well for the cutting, but sometimes one end can rot away and a different part of the cutting can still be viable.
Either way, the mold itself is not the enemy. The spores are everywhere. But the mold only develops when conditions are too humid, or the cutting is already dead, etc. So you should spend your energy fixing the underlying conditions (primarily humidity and air flow), rather than trying to do anything about the mold directly.
The only time I throw away a cutting is if it is the #2 type of mold above, and it appears that the entire cutting appears dead. This can exhibit in a few ways. Often they are kinda wrinkly looking and brown everywhere. If the cutting is molding and appears dead, then I toss it. Even in these situations there are reports of some part of the cutting being alive and emerging from the compost pile later on.