Very few areas are as regulated as banking. The federal agencies continually monitor the financial institutions as well as the ones doing business with them. Bank fraud is actually a federal offense involving defrauding financial institutions or through obtaining credit, money, securities, and other assets under pretense. This is possible in both large as well as small monetary amounts. The customers can defraud banks through acts like usage of false identity; the bank employees can commit crimes by entering false records or by removing valid records without authorization.
Bank Fraud Consequences
The punishments for bank fraud are quite severe. For each case of bank fraud an individual is convicted for, the person concerned can be punished by up to 30 years in prison or a fine of $1,000,000, or both. False representation of the records by a bank employee can incur long years of imprisonment and huge fines. Though there are some crimes that incur comparatively less harsh punishment, there will be a permanent criminal record. This will not just limit employment opportunities in future, but impose other limitations as well like credit applications.
So, if charged with such a fraud, you need to get in touch with the attorneys as soon as possible. This will maximize the chance of getting the case against you dismissed.
Bank Fraud: A White Collar Crime
Bank fraud is regarded as a white collar crime as it is quite commonly committed by individuals inside the bank like loan officers and currency traders. It can also be committed by individuals outside this industry in the guise of credit card fraud, forgery, identity theft, and its likes.
Bank fraud can be described as a commonly prosecuted offense, as it encompasses an array of conducts. Owing to this, the federal prosecutors use bank fraud charges simply as a mode to prosecute an array of financial and banking institution related offenses. Here are a few examples of criminal conduct prosecuted as bank fraud:
- ATM Deposit Fraud
- Altered Check Fraud
- Credit Card Fraud
- Credit Card Skimming
- Forged Check Fraud
- Fraudulent Loan Applications
- Identity Theft
- Phishing and Internet Banking Fraud
- Check Fraud
- Debit Card Fraud
- Fraudulent Loans
- Gift Card Fraud
- Mortgage Fraud
- Stolen Check Fraud
Regardless of whether you are guilty or not, a criminal lawyer with a specialization in bank fraud will help you determine the best path. Don't traverse this path alone as it is too dangerous for novices.
Find a Local Attorney
You need to start working with the local criminal defense attorneys. You are quite likely to need several meetings and may require visits to the attorney, whenever needed, to know about the proceedings. Since the local attorneys know about the district and the local court systems, they can focus on your case rather than learning about local aspects of the court.
Solid and Early Legal Intervention is Crucial
The criminal defense attorneys can begin offering assistance soon after you are suspected of bank fraud. As soon as the federal agencies start prying into life, both business as well as personal, you need to hire a criminal defense attorney for the protection of your liberties and rights. They will guide you through the proceedings, helping to take difficult decisions and know where exactly your case stands.
How can the Criminal Defense Attorneys Help?
The criminal defense attorneys start the job through analysis of evidence. As soon as a plea of not guilty is forwarded, the criminal defense attorneys will file a formal and a written demand for discovery. Discovery here refers to sharing information between two parties involved in the lawsuit.
All the criminal cases are considered as lawsuits even if they are between an individual and the government as opposed to two individuals or an individual and an entity. Unlike other types, the criminal prosecutions here are governed by its own rules. These rules are referred to as "Federal Rules of Criminal Procedure." If demanded by the criminal defense attorney, the prosecution must offer the following information:
- Oral statements of the defendant
- Recorded or written statements of the defendant
- Prior records
- Objects and documents relevant to defense
- Reports of test and examinations
- Summary of the expert witness testimony
These details are crucial to the defense, as it allows the criminal defense lawyers to understand the nature of the bank fraud case at hand. By analyzing these details, the attorneys can map out the facts. While performing analysis, the defense attorneys remain on the lookout for:
- Break in evidence
- Conflict in evidence
- Credibility issues
This allows them to assess the weaknesses and strengths of the case not just from the defense perspective, but the prosecution as well, and hence, draft the case accordingly.
The criminal defense attorneys are perfectly well prepared to defend clients against charges of bank fraud. Since these situations can be quite complex, make sure to get in touch with an experienced and knowledgeable attorney as soon as possible. This will ensure you the best possible results.