Bank fraud in California and across the United States is a very serious crime. Fraud is tough to identify. Most consumers realize they have been victims of fraud only after they have lost a substantial amount of money. All consumers are vulnerable to banking fraud, which can be committed by a bank agent, financial adviser or insurance agent representing a bank. A person who is convicted of one count of bank fraud can be sentenced up to 30 years in federal prison. Consult the services of The Morales law Firm and talk to our bank fraud lawyer in San Francisco, CA about your concerns.
Understanding Bank Fraud
Bank fraud is a criminal offense where an individual deliberately and knowingly carries out a scheme to defraud a financial institution. It is essentially the use of fraudulent means to obtain money, assets, or other property that is owned or in the control of a bank or other financial institution. Bank fraud may be committed in a number of ways including the following:
- Mail fraud – attempting to gain access to funds via fraudulent representation by mail;
- Wire fraud – defrauding a financial institution via wire, radio, or telephone communication;
- Making false statements on loan applications or other documents – misrepresentation in order to gain access to funds illegally;
- Falsifying documents – further misrepresentation through important documents meant to gain a bank’s trust and access funds;
- Forging checks – using fake checks or illegally using another person’s checks to gain funds from a financial institution;
- Loan fraud – using misrepresentation and other illegal means to receive a loan a person would not normally be able to receive; and
- Counterfeiting bank documents – can include a wide variety of items, all meant to gain access in some form to the finances of a bank.
- Tax Fraud: Tax fraud is committed when a person or entity knowingly violates their legal duty to file taxes.
However, unlike many other forms of fraud, bank fraud is defined as illegal under U.S. federal legislation, meaning that these crimes will be investigated by federal agencies and prosecuted under federal criminal law rather than state law.
Banking fraud can occur under a number of scenarios:
Bank Fraud: Bank fraud is the use of illegal measures to gain money or assets in a financial institution. Investment advisors, bank employees and seemingly friendly people commit bank fraud.
A bank can sell an investment or financial product to a consumer without disclosing everything about the product, or the bank can charge unauthorized and undisclosed fees in association with a certain service. If this situation sounds familiar to you, The Morales Law Firm can help.
An experienced San Francisco, CA bank fraud lawyer can handle a wide range of cases involving:
- Bank account fraud
- Consumer fraud
- Credit card fraud (only when the bank is at fault)
- Fraudulent financial services
- Securities and stockbroker fraud
- Tax fraud
Contact a fraud Lawyer
If you have been accused of committing bank fraud, you need the counsel and guidance of an experienced bank fraud lawyer in San Francisco, CA as soon as possible.
The legal team at the Morales Law Firm will fight hard to defend your rights and conduct thorough independent investigations to help get your charges dismissed and clear your name. Our bank fraud lawyers also have experience getting charges reduced, which in turn will significantly diminish your penalties. We understand that facing any criminal charge can be a scary experience, let alone facing a federal charge such as bank fraud.
