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

Canadian Court Rules in Favor of Bitcoin ATM Company in $62,000 Fraud Case

The Bitcoin News 15 Oct 2018

A Canadian Court has recently ruled in favor of a Bitcoin ATM company which was sued by a user who fell victim to fraud ... She noted that the anonymous transactions being made without the need for banks is attractive for users, but that increased fraud is a one of crypto’s dangerous drawbacks ... https.//unhashed.com/cryptocurrency-news/canadian-court-rules-favor-bitcoin-atm-fraud-case/....

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SBI Customers Your Net Banking A/c May Be Blocked

Yahoo Daily News 13 Oct 2018

As per the details given by the bank in response to the RTI query, in the second quarter, the number of fraud cases reduced by just 9 in comparison to 669 cases reported in the first quarter while the amount involved increased by a staggering 568.33%. The RTI also investigated about the loss to the bank as a result of banking frauds....

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Accident deaths down by 37% in Madurai district

The Hindu 13 Oct 2018

Highlighting the formation of a Police Cyber Club to effectively crack down on theft of mobile phones and banking frauds like phishing, he said that the club had significantly improved the efficiency in resolving such cases ... He said that the club was also organising awareness meetings in schools and colleges on how to prevent online fraud and be cautious while using social media....

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Sandesara probe: UPA government officials, bankers under lens

The Economic Times 13 Oct 2018

ED to file chargesheet against fugitive family involved in Rs 5,000-cr bank fraud case ... ....

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RI for three in bank fraud case

The Hindu 12 Oct 2018

The CBI court here sentenced a former manager of Indian Bank, Ariyalur branch, and two others to seven years rigorous imprisonment for ... Additional Special Judge for CBI cases S....

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Mumbai: Rs 143 crore swiped off State Bank of Mauritius branch in cyber fraud

India TV 12 Oct 2018

In what probably is one of the biggest cases of cyber frauds in India, Rs 143 crore was 'looted' from the State Bank of Mauritius (SBM) branch in Mumbai ... The bank has lodged a case with Mumbai Police Economic Offences Wing ......

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Kealohas forced to move out of Hawaii Kai home

Star Advertiser 12 Oct 2018

The Kealohas could be seen at the home this afternoon, loading belongings into a pickup truck. U.S ... His order directs the goverment to hold on to the proceeds of the sale, pending the outcome of the criminal case against the Kealohas. They are charged with bank fraud for lying on their loan application to secure the $1 million mortgage loan ... The bank fraud trial is scheduled for next month ... 23 ... ....

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Kealohas clear Hawaii Kai home as feds prepare to sell off property

Honolulu Star-Advertiser 12 Oct 2018

The Kealohas could be seen at the home Thursday afternoon, loading belongings into a pickup truck. U.S ... His order directs the government to hold on to the proceeds of the sale pending the outcome of the criminal case against the Kealohas. They are charged with bank fraud for lying on their loan application to secure the $1 million mortgage loan ... The bank fraud trial is scheduled for next month ... 23 ... ....

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Kealohas move out of Hawaii Kai home as federal government prepares to sell it

Honolulu Star-Advertiser 12 Oct 2018

SHARE. ADVERTISING ... The Kealohas could be seen at the home this afternoon, loading belongings into a pickup truck. U.S. Magistrate Judge Richard L ... His order directs the goverment to hold on to the proceeds of the sale, pending the outcome of the criminal case against the Kealohas. They are charged with bank fraud for lying on their loan application to secure the $1 million mortgage loan ... The bank fraud trial is scheduled for next month ... 23....

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Federal judge orders new Manafort hearing

The Keene Sentinel 12 Oct 2018

The jury that heard Manafort’s case in August at the federal court in Alexandria found him guilty on eight counts of bank and tax fraud, but it deadlocked on 10 others ... “This case appears to be no different from any other case in which the defendant is cooperating and that cooperation is expected to extend beyond a scheduled sentencing date.”....

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Young people increasingly at risk of identity fraud, data shows

Belfast Telegraph 11 Oct 2018

We’re calling on banks in particular to ensure that they are providing young people with the necessary knowledge to prevent them falling victim to fraud – or becoming fraud perpetrators Cifas ... The majority of cases were plastic card fraud, such as bank, debit, credit or store cards ... We’re calling on banks in particular to ensure that they are ......

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Bank manager gets 40-year jail in fraud case

The News International 11 Oct 2018

A banking court judge, Malik Munir Ahmad, on Wednesday awarded a total 40 years of jail term to a former bank manager, Ghulam Rabbani, in a fraud case ... As per the case details, a private bank ... A banking court judge, Malik Munir Ahmad, on Wednesday awarded a total 40 years of jail term to a former bank manager, Ghulam Rabbani, in a fraud case....

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Nirav Modi declared absconder in duty evasion case

Khaleej Times 11 Oct 2018

Chief Judicial Magistrate B H Kapadia declared Modi an absconder in a case filed against him in December 2014 by the Mumbai zonal unit of the DRI ... Modi fled the country this Jaunary before an alleged multi-billion dollars fraud at Punjab National Bank came to light and the CBI registered a case against him. The case in Surat pertains to diversion ......

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