What is Bank Fraud? | The Federal Defenders

Описание: Hi Folks, this is Paul Padda with The Federal Defenders and today I want to talk to you about Bank Fraud. A Bank crime is not a state crime, it is a federal crime. Federal authorities prosecute bank fraud because banks are federally regulated institutions. Federal Law, 18 U.S. code § 1344 charges criminal liability directly on anyone who intends to engage in fraud on a financial institution such as banks, credit unions and even Casino are technically considered financial institutions. Let’s say that someone presents a 100-dollar bill that is counterfeit and presents it to a teller asking for change, and the teller gives them 20s, then that person just committed bank fraud.

Another type of bank fraud is sending phony documents to a bank to engage in a scheme to defraud a person or bank comes into play. Having someone wire them money for a product and the product is never delivered. That is another example of Bank Fraud. This is an example of why the Bank Fraud laws are so broad. Because there are so many types of schemes that people come up with. Which is why the Federal government authorities want broad laws to cover the many types of criminal activities.

Bank Fraud is a very serious crime, and it carries with it up to 1-million-dollar crime and up to 30 years in jail. So, if you are facing Bank Fraud charges, you need to take very seriously. This is something that you need to take very seriously. Defrauding a bank is a big deal.

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