There are two major forms of bank fraud. They are:
- Obtaining the money, property, or assets of a financial institution through illegal activity.
- Pretending to be a bank, credit union, or other financial institution in order to illegally get money from depositors.
Also, in many cases, this type of fraud is considered a criminal offense. In addition, other types of bank fraud include:
- Money laundering.
- Stealing checks.
- Using fraudulent loans.
- Wire transfers.
- Altering checks.
- Accounting fraud.
This offense is a federal crime under the Bank Fraud Statute in Title 18 of the U.S. Code. This statute outlines the penalties for this crime in the United States. Such penalties include:
- A prison sentence of up to 30 years and/or;
- A fine of up to $1,000,000.
Bank fraud covers many different and complicated crimes. If you have been accused of this crime, you need to start building a defense as soon as possible, since this can be a serious charge. In order to establish the best defense possible, you should seriously consider hiring a criminal defense attorney. Such an attorney will be more familiar with relevant laws and defenses than you, and can therefore make sure that you present the best case for yourself in court. For more information on criminal defense, please contact our office.