Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence. While the specific elements of particular banking fraud laws vary between jurisdictions, the term bank fraud applies to actions that employ a scheme or artifice, as opposed to bank robbery or theft. For this reason, bank fraud is sometimes considered a white-collar crime.
18 U.S. Code § 1344 – Bank fraud
Whoever knowingly executes, or attempts to execute, a scheme or artifice—
(1) to defraud a financial institution; or
(2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises;
shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.
Bank fraud typically involves misrepresentations to an institution for the purpose of obtaining money. Common bank fraud cases include falsified loan applications, forged checks or false letters of credit. No matter what you have been charged with, you must speak immediately with a federal criminal defense lawyer who can help you avoid the potentially severe consequences that may result.
Credit card fraud is a type of identity theft in which the unauthorized taking of another person’s credit card information is used to make purchases and / or remove funds from an account. It often includes the use of fake credit cards, false information in obtaining a credit card, the trafficking of credit access devices, or the creation of cloned credit cards with stolen information.
If you have been accused of credit card fraud at the federal level, consider speaking with defense attorney Daniel Lenghea, P.A..