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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Fugitive Indian jewellery tycoon, 48, whose diamonds are worn by Kate Winslet and Naomi Watts is arrested in London over £1.5bn bank fraud after being on run for more than a year

This is Money 20 Mar 2019

An Indian billionaire jeweller wanted over an alleged £1.5 billion fraud has been arrested in London ... He was arrested over an alleged billion-pound fraud last night ... The jeweller is accused of taking part in the fraud on Punjab National Bank, believed to be one of the largest ever fraud cases in India....

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PNB fraud: How Nirav Modi defrauded India's second largest bank of Rs 13,000 crore

DNA India 20 Mar 2019

Ever since the Rs 11,400 crore Punjab National Bank (PNB) fraud case came to light, the state-owned bank is bearing the brunt of investors who continue to remove their money from its stock.  ... In January 2018, a fraudulent credit against the bank, an FMR-1 (fraud report format ......

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UK police arrest wealthy Indian jeweler Nirav Modi

This is Money 20 Mar 2019

... richest men, Modi is wanted in India over allegations he was involved in a fraud on the state-run Punjab National Bank, one of the largest-ever fraud cases in India....

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UK police arrest wealthy Indian jeweler Nirav Modi | The Sacramento Bee

Sacramento Bee 20 Mar 2019

... over allegations he was involved in a fraud on the state-run Punjab National Bank, one of the largest-ever fraud cases in India....

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Former 'Indian Idol' contestant Avanti Patel duped in cyber fraud

Yahoo Daily News 20 Mar 2019

Former 'Indian Idol' contestant Avanti Patel duped in cyber fraud ... 1.7 lakh in a cyber fraud case recently. According to media reports, the accused posed as a bank executive and cheated her on the pretext of debit card verification ... When the singer shared her sister's bank account details, the accused debited Rs....

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Nirav Modi arrested in London

The Telegraph India 20 Mar 2019

Nirav Modi, the main accused in the $2 billion Punjab National Bank fraud case, has been arrested in London, Scotland Yard said on Wednesday, in a major boost to India's efforts to bring back the fugitive diamantaire ... The case will then follow a similar pattern through the UK ......

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What Did Mueller Find in Michael Cohen's Emails?

Democratic Underground 20 Mar 2019

Federal agents seized documents and other potential evidence of crimes that helped build the case against Cohen alleging tax and bank fraud and violating campaign finance law ... Last August, Cohen plead guilty to eight counts of bank fraud, tax fraud and campaign finance violations....

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Fugitive Diamond Merchant Nirav Modi Arrested in London, Produced Before Westminster Court | Updates

Cricket Country 20 Mar 2019

Fugitive diamond merchant Nirav Modi, a key accused in the multi-crore Punjab National Bank (PNB) fraud case, was arrested in London ... The 48-year-old bank fraud fugitive who faces an Interpol red corner notice is currently subject of an extradition request by India....

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Nirav Modi arrested in UK, to be produced in court today

Yahoo Daily News 20 Mar 2019

Modi, one of the key accused in the Punjab National Bank fraud case, was recently tracked by UK’s Telegraph newspaper in London where he was reportedly running a diamond business ... Last year, in connection with another extradition case, the Scotland Yard arrested absconding liquor baron Vijay Mallya for defaulting bank loans in India....

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Nirav Modi's asylum bid may delay extradition process

Yahoo Daily News 20 Mar 2019

Nirav Modi is wanted in India in connection with a Rs 3,000-crore Punjab National Bank fraud case ... “If Nirav Modi has applied for asylum, then the extradition proceedings will not likely begin until the asylum application has been rejected...Granting asylum to a person facing an allegation of fraud in India would be an abuse of process”....

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Mumbai court allows for auction of Nirav Modi’s art collection

The Times of India 20 Mar 2019

The ED had recently attached properties belonging to Modi, valued at Rs 147 crore, under the Prevention of Money Laundering Act (PMLA) in its ongoing investigation into the Punjab National Bank (PNB) fraud case which has him as a main accused....

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Mum court allows auction of NiMo art collection

The Times of India 20 Mar 2019

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Nirav Modi arrested in UK, to be produced in court

Indian Express 20 Mar 2019

He is likely to be produced before the court later in the day. Advertising ... Nirav Modi, one of the accused in the Punjab National Bank fraud case, was recently tracked by UK’s Telegraph newspaper in London where he was reportedly living in a high-end flat from where he was running a diamond business ... Don't Miss ... 0 Comment(s). Nirav Modi ... news ... ....