In today’s modern digital world, financial transactions go through computer programming paths until they reach their final destination, and those initiating the transactions are often not even aware of the steps in the journey. Because of this, it’s not all that difficult to commit a financial crime like bank fraud without even realizing what you have done. Bank fraud is a crime in which someone uses an illegal method to obtain money or assets from a financial institution, like a bank. The laws that regulate bank fraud and similar crimes are dynamic and ever-changing, which makes it a wise decision to have a financial bank fraud lawyer’s number in your phone book if you are running a sizeable business or company of any kind.
Types of Bank Fraud
There are many different types of bank fraud, and some of them are often committed along with other crimes like drug trafficking or even terrorism. Money laundering is the act of making illegitimately obtained funds look like they were legally obtained. Bank impersonation scams are scams that occur when someone creates a false web page or uses a fake company in order to get money from some unsuspecting individual. For example, someone may impersonate a bank before closing on a home to try and defraud the buyer out of the down payment. Forgery is another common bank fraud crime in which someone alters the amount of a check or signs it with a false signature. Those who make financial transactions often must be wary of all of these types of fraud, as they have become quite prevalent.
Penalties for Bank Fraud
Bank fraud is a federal offense and, as such, carries heavy penalties. The severity of the penalty for a crime will depend upon the seriousness of the crime and the amount of money involved. In general, however, perpetrators of these crimes are usually fined and sentenced to prison time. The federal code of law pertaining to bank fraud stipulates that a guilty party may be fined up to a million dollars or imprisoned for up to thirty years. However, it must be shown that the perpetrator intentionally committed the fraud and that it was not done by mistake. That’s why anyone accused of bank fraud needs to hire an experienced lawyer who will do a thorough investigation of the facts of the case to see if there was this kind of intent.
Call to Schedule a Free Consultation With a Bank Fraud Lawyer Today
If you are facing a bank fraud charge, call to schedule a free consultation with a bank fraud lawyer today. The experienced legal professionals at the Law Offices of John D. Kirby will thoroughly investigate your charge and work hard to defend your rights. Give us a call at 619-557-0100 and speak with our friendly staff to learn more about our criminal defense service.