Bank Fraud Explained

This Fort Worth criminal defense law firm can explain that bank fraud is a crime characterized by intentionally making false representations in order to secure money or other assets from a federal institution. It is often different from robbery and similar crimes because it is a crime of deception rather than violence.

Types of Bank Fraud

There are two general types of bank fraud: internal and external.

Internal bank fraud is committed by someone who works for the financial institution or possesses confidential information about the bank. This type of bank fraud usually consists of making fraudulent loans, misinvesting the bank’s funds in the stock market, committing wire fraud or committing identity theft.

External bank fraud is committed by individuals outside the bank. A Fort Worth criminal defense law firm may represent individuals who are accused of writing bad checks, forging checks, using stolen debit cards, committing accounting fraud or money laundering.

Potential Consequences

Bank fraud is a federal offense and therefore subject to serious criminal punishment. If found guilty of bank fraud, a person faces imprisonment up to 30 years, a fine up to $1 million or both.

Potential Defenses

There are some potential defenses to the crime of bank fraud. For example, bank fraud requires an intentional intent. If the defendant made a mistake on accident, he or she would not meet the requisite mens rea. Another possible defense is based on constitutional grounds, such as law enforcement conducting a warrantless search or seizure that was not supported by probable cause or secured by a warrant. Other defenses may be available, but they are based on the special circumstances of the case. Getting an attorney involved as early as possible into the investigation can help protect the defendant’s rights.

Legal Assistance

For more information about bank fraud, contact our Fort Worth criminal defense law firm by calling (877) 208-3382.