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Types of federal bank fraud charges

On Behalf of | Jan 19, 2024 | Criminal Defense |

According to the Federal Trade Commission, 2.8 million Americans experienced some type of bank fraud in 2021.

Federal bank fraud encompasses a range of deceptive activities aimed at manipulating financial institutions for personal gain. You may receive different consequences for various types of federal bank fraud charges.

Check fraud

Check fraud involves the creation or use of counterfeit checks to unlawfully obtain funds. Perpetrators may forge signatures or create fake checks, deceiving banks and individuals. This type of fraud undermines the trust placed in the authenticity of financial transactions.

Credit card fraud

Credit card fraud occurs when unauthorized individuals use stolen or counterfeit credit cards to make purchases. This deceitful practice not only harms individuals but also impacts the financial stability of credit card companies and banks.

Wire fraud

Wire fraud involves using electronic communication to deceive individuals or financial institutions. Perpetrators may send deceptive emails or messages to trick recipients into transferring funds or providing sensitive information.

Identity theft

Identity theft is a pervasive form of bank fraud where criminals acquire and misuse personal information to access financial accounts. This deceptive practice can result in substantial financial losses for individuals and jeopardize the security of the banking system.

Mortgage fraud

Mortgage fraud occurs when individuals provide false information or engage in deceptive practices to secure a mortgage. This can involve misrepresenting income, assets or property values, ultimately putting the financial stability of lending institutions at risk.

Understanding the various types of federal bank fraud is important for recognizing the implications of your federal charges.