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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.
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https://wn.com/Bank_fraud
Latest News for: Bank fraud case
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Interim CBI Director Nageswara Rao transfers 20 officers
DNA India 22 Jan 2019
A Saravanan, who was probing the anti-Sterlite protests firing case in Tamil Nadu in which 13 people were killed, has been shifted to the banking, securities and frauds branch in Mumbai, which is handling the cases of loan default against diamond traders Nirav Modi and Mehul Choksi, among others, the order said....
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Nirav Modi, Vijay Mallya, Mehul Choksi will be brought back just like Christian Michel: Prakash Javadekar
The Telegraph India 22 Jan 2019
"(Former) Congress government pressurised banks, and Mehul Choksi, Nirav Modi and Vijay Malya were given loan without security ... Both had fled India in January after the CBI registered an FIR in the case. Vijay Mallya faces charges in India of bank fraud and money-laundering that allegedly total Rs 9,000 crore....
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CBI row: 20 officers transferred 3 days before new chief's selection by PM Modi-led committee
International Business Times 22 Jan 2019
A Saravanan, who was investigating the Tamil Nadu Sterlite police firing case in which 13 people were killed in 2018, has been transferred to the banking, securities and frauds branch in Mumbai. He will continue investigating the case, though, in addition to handling the case of loan default against diamond merchants Nirav Modi and Mehul Choksi....
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CBI interim director Nageswara Rao transfers 20 officers
Hindustan Times 22 Jan 2019
Vivek Priyadarshi, posted in the anti-corruption branch in Delhi and probing the 2G scam case, has been transferred to Chandigarh. A Saravanan, who was probing the police firing in which 13 people were killed during protests against Sterlite in May last year, has been shifted to the banking, securities and frauds branch in Mumbai, the order said....
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China-Canada ties go from bad to worse as US moves on Huawei CFO
Asia Times 22 Jan 2019
Law enforcement authorities in the United States confirmed on Tuesday that they will formally seek the extradition from Canada of Huawei chief financial officer Meng Wanzhou to face bank fraud charges ... The renewed attention on the cases came after 140 former diplomats and academics signed an open letter to Xi Jinping urging the release of the two....
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Govt to continue urging Antigua to revoke Mehul Choksi's citizenship
The Economic Times 22 Jan 2019
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Sirin Labs Founder Victim of a Bitcoin Scam after purchasing Grin Tokens
A Bit of News 22 Jan 2019
Moshe Hogeg Falls Victim to a Scam ... The latter was vouched for by a third-party trustee ... This is an excellent opportunity to remind that crypto brings great features like the ability to be your own bank, however, because there is no central authority, there is no one to take responsibility in such fraud cases like the above ... More news for you.....
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The Hindu
21 Jan 2019
Delhi court allows extradition process against four Sterling Biotech promoters
The Hindu
21 Jan 2019
A Delhi court on Monday allowed the Enforcement Directorate to go ahead with the extradition process against four Sterling Biotech promoters in a ₹8,100-crore bank fraud case....
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Delhi court's nod to ED to get Sandesaras extradited
The Times of India 21 Jan 2019
... promoters in a Rs 8,100-crore bank fraud case ... The agency has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act....
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Initiated extradition process against four Sterling Biotech promoters, ED tells court
Indian Express 21 Jan 2019
The Enforcement Directorate Monday informed a Delhi court that it has initiated extradition process against four Sterling Biotech promoters in the Rs 8,100 crore bank fraud case ... The ED has registered the alleged bank fraud case against the firm SBL under sections of the Prevention of Money Laundering Act (PMLA)....
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