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.
Latest News for: Bank fraud case
IIT dropouts among 9 arrested in multi-crore fraud case in Hyderabad
Deccan Chronicle 18 Nov 2018Bank Of Ghana Reveals Over 90% Of Banking Fraud Planned And Executed By Bank Workers
Modern Ghana 17 Nov 2018Spiritual leader, five others served notices
The Times of India 17 Nov 2018Financial institutions have been urged to carry out thorough background checks on prospective employees before their engagement to stop the recruitment of criminals into the banking sector.
Graphic 16 Nov 2018Armenia’s Russia-Owned Gas Operator Accused Of Tax Evasion
Radio Free Europe 16 Nov 2018Matthew Whitaker isn't acting like just a caretaker as interim attorney general
Aberdeen News
15 Nov 2018
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