Bank fraud

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 depending on 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.

Types of bank fraud

Stolen checks

Fraudsters may seek access to facilities such as mailrooms, post offices, offices of a tax authority, a corporate payroll or a social or veterans' benefit office, which process cheques in large numbers. The fraudsters then may open bank accounts under assumed names and deposit the cheques, which they may first alter in order to appear legitimate, so that they can subsequently withdraw unauthorised funds.

This page contains text from Wikipedia, the Free Encyclopedia - https://wn.com/Bank_fraud

Latest News for: Bank fraud case

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Records: Teen tax fraud suspect deposited $67,000 in fake checks

Atlanta Journal 12 Dec 2018

A South Fulton County teen accused on trying to scam tens of millions from the State of Georgia also deposited nearly $70,000 in fake checks at a SunTrust Bank, according to records ... On Tuesday, Turner faced a Henry County magistrate court in a separate, bank fraud case ... Authorities there believe he was involved in similar bank fraud across the city....

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15,779 Indian websites hacked during Jan-Nov 2018: Ravi Shankar Prasad

The Times of India 12 Dec 2018

"Further, the Reserve Bank of India (RBI) has registered a total of 1,191, 1,372, 2,059 and 921 cases of frauds involving ATM/Debit Cards, credit cards and Internet Banking frauds reported (amount involved Rs 1 lakh and above) during the year 2015-16, 2016-17, 2017-18 and 2018-19 (up to September 30, 2018) respectively," Ahluwalia said....

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15,779 Indian websites hacked during Jan-Nov 2018: Prasad

The Times of India 12 Dec 2018

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15,779 Indian websites hacked during January-November 2018, says IT ministry

Hindustan Times 12 Dec 2018

“Further, the Reserve Bank of India (RBI) has registered a total of 1,191, 1,372, 2,059 and 921 cases of frauds involving ATM/Debit Cards, credit cards and Internet Banking frauds reported (amount involved Rs 1 lakh and above) during the year 2015-16, 2016-17, 2017-18 and 2018-19 (up to September 30, 2018) respectively,” Ahluwalia said....

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Update: Dezheng Founder Gets 23 Years in Prison Over Port Forgery Scandal

Caixin Online 12 Dec 2018

to 23 years in prison and fined the aluminum company 3.012 billion yuan ($436.57 million) over a case of fraud that lost banks billions, shook international ......

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Government vs RBI: The last days of Urjit Patel at Mint Street

The Times of India 12 Dec 2018

In March, soon after a $2 billion fraud case at one of the biggest state-run lenders Punjab National Bank (PNB), Patel warned that in India there was a “deep fissure in the landscape of banking regulatory terrain ... The central bank is now locked in a court case with Kotak Mahindra ......

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Michael Cohen to be sentenced for crimes committed while working for Trump

The Post-Standard 12 Dec 2018

Cohen has pleaded guilty in two separate cases - one brought by special counsel Robert Mueller over Cohen's lies to Congress, the other brought by federal prosecutors in New York over tax and bank fraud allegations and campaign finance violations ... Prosecutors in the case, while ......

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Manafort's Lawyers Address Lying Allegations In Court Tuesday

WPTV 12 Dec 2018

Manafort struck that plea deal with Mueller back in September after a jury found the president's former campaign chairman guilty of eight counts of bank and tax fraud in a separate case. As part of the deal, Manafort pleaded guilty to one count of conspiracy against the U.S ... 25 ... ....

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Michael Cohen sentencing hearing: New details about Trump could be revealed in court

Canada Dot Com 12 Dec 2018

Cohen has pleaded guilty in two separate cases – one brought by special counsel Robert Mueller over Cohen’s lies to Congress, the other brought by federal prosecutors in New York over tax and bank fraud allegations and campaign finance violations ... in the New York case....

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Another e-ID card saga

The Jakarta Post 12 Dec 2018

The recent findings of thousands of discarded e-ID cards, deliberately or not, in several areas across the country should give us cause for concern ... For sure, fake documents will facilitate crime like bank fraud and pose security threats as in the case of terrorists who easily find places to live and assemble bombs ... Topics .. ....

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Trump ex-lawyer Cohen sentenced to three years prison on campaign charge

Gulf Daily News 12 Dec 2018

World News. Wed, 12 Dec 2018. Reuters. New York ... The sentencing by U.S ... Trump has denied the affairs and any involvement in the payments ... The two terms will run simultaneously ... Cohen pleaded guilty in August to charges including tax evasion, bank fraud and campaign finance violations in a case brought by federal prosecutors in New York ... "While Mr ... ......

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Trump Ex-Lawyer Cohen Given Three Years in Prison, Blames ‘Blind Loyalty’ to President

The Algemeiner 12 Dec 2018

Cohen�pleaded guilty in August to charges including tax evasion, bank fraud and campaign finance violations in a case brought by federal prosecutors in New York.�Cohen�was sentenced on a separate charge of lying to Congress brought by Special Counsel Robert Mueller, who is ......

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Bankers may’ve been part of scam: Judge

The Times of India 11 Dec 2018

She ruled that Mallya had a prima facie case of fraud and money laundering to answer and expressed her shock at the failure to obtain proper credit reports before certain loans were sanctioned by some state-owned banks ... case....