Bank Fraud

Bank Fraud

Technology has revolutionized the business world. It has been enabled with features like online payments and transfers without any physical movement of money. Businesses have wholeheartedly embraced technology in order to remain competitive but as they have enjoyed its benefits, they have also encountered challenges.

One such challenge is bank fraud. Federal law generally defines bank fraud as a scheme or artifice to defraud a bank. This means seeking to obtain money from a bank using false pretenses. Bank fraud falls into four major categories;

1) Credit card and debit card fraud
This is a form of bank fraud where credit and debit cards are used to purchase goods and make withdrawals. This is done while knowing that one cannot repay the amount borrowed and if they can, without any intention of repaying. This is done with cards that are stolen or by skimming credit card information to make false statements on credit card applications.

2) Check fraud
For the most part, technology is for financial transactions but checks are still in use. Fraudsters may commit check fraud by forging signatures on stolen checks, creating fake checks, altering amounts on valid checks and kiting which is withdrawing funds on a check that has been deposited before the check clears.

3) Internet fraud
This involves hacking into computer systems to siphon accounts out of bank accounts, online accounts, and credit cards and debit cards. Those convicted of online bank fraud often face multiple charges under state and federal laws.

4) Identify theft
The above forms of fraud all involve identity theft. However, bank fraud can be committed all with the intention of stealing an identity. Cases of identity theft can be charged in court as bank fraud include using a fake identity document, using forged documents in a bank, using another person’s checks or credit cards and using another person’s information to create an online account or gain access to it.

Mail fraud and wire fraud
If federal charges of bank fraud are brought against you, then you could also face additional charges. This would be wire fraud, mail fraud, wire fraud or even both of these charges. These crimes have definitions that are broad as those of bank charges. Prosecutors, therefore, bring them up to get maximum punishment for bank fraud.

Smart defense
If you are convicted of bank fraud, you could be looking at fines of up to $1 million and 30 years behind bars in a federal facility. You need the smartest defense you can get and that you will get from Lydon Law Firm. Here, a skilled and experienced South Carolina White Collar Crimes lawyer will look at the facts of your case and build a strong defense for you.

Lydon Law Firm has made a name in the state for successfully defending those facing federal and state bank fraud charges. A South Carolina White Collar Crimes lawyer from this respected firm is your best chances in building a tight defense for you. Contact us so we can get on it right away.