Federal Bank Fraud

What is federal bank fraud?

Federal Bank Fraud is set forth at 18 U.S.C. § 1344 and provides that anyone who knowingly executes a scheme in order to defraud a financial institution to obtain money or property from a financial institution using fraudulent representations, is guilty of the offense. Federal law provides an extremely broad definition of bank fraud and federal bank fraud can take many forms. Some of the ways that one can be found to have committed federal bank fraud are:

  • Using someone else’s bank information and accounts without their consent
  • Hacking into a financial institution – whether this is an individual’s account or the bank as an entirety’s account.
  • Creating a fake check or trying to cash one that is not legitimate.
  • Using identity theft in order to access someone’s bank account.

What Are the Penalties for Bank Fraud?

If are convicted of bank fraud you can face up to 30 years in prison and a fine of up to $1 million.

What should I do if I am threatened or charged with bank fraud?

Bank fraud is a serious offense, and the penalties are severe. You should contact an experienced federal criminal defense attorney as soon as possible. Contact LGR Law Group and its team when you are first contacted by anyone regarding a federal offense. We have represented many people charged or threatened with bank fraud and we will help you and guide you through this exceedingly challenging time.

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