Bank Fraud 2018-01-09T20:01:09+00:00

If you have been charged with bank fraud, it is important that you understand the charge and what it means. There are many different types of fraud related to banking, so understanding your specific charge is important. Bank fraud is a serious crime in the state of Connecticut and throughout the United States. If you are involved in a bank fraud case, you should understand your charge, potential penalties, and how to defend yourself. You can learn more about these thing on this page.

Bank Fraud

There are two major forms of bank fraud that can further be broken down into additional crimes. The first major category is obtaining the money, property, or assets of a financial institution through illegal activity. The second major form of bank fraud is pretending to be a bank, credit union, or other financial institution in order to illegally get money from depositors.

Other types of fraud related to banking include:

  • Impersonation.
  • Money laundering.
  • Phishing.
  • Stealing checks.
  • Forgery.
  • Using fraudulent loans.
  • Wire transfers.
  • Altering checks.
  • Accounting fraud.

Penalties

All banking related forms of fraud are considered federal crime under the Bank Fraud Statute in Title 18 of the US 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.

The penalties that you face for bank fraud will depend on a few different factors. First, the court will consider the type of fraud you are accused of. Second, they will consider if you are charged with any additional crimes related to the fraud. Finally, the court will consider the severity of your situation and your criminal history. These factors, as well as others will determine the severity of your penalties.

Getting Help

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. We offer free consultations, and we would be happy to sit down with you to discuss your situation.