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Understanding bank fraud charges

There is a common saying that “money makes the world go around.” As such, people take financial offenses quite seriously. If you face fraud charges, you may encounter strict penalties.

One of the first steps in being able to properly defend yourself against bank fraud charges is to educate yourself. There are a few key things you should know about such cases.

Defining Bank Fraud

Simply put, bank fraud is the accumulation of money or assets from a financial institution by use of illegal means. There are a few different actions that fall into this category, including:

  • Forgery
  • Stolen checks
  • Fraudulent loans
  • Bank impersonations
  • Internet fraud

These types of fraud are generally considered white collar crimes because they usually are of a non-violent nature. However, they are still federal crimes, according to Georgia code.

Who Can Be Accused Of Bank Fraud?

There are quite a few different types of individuals who may face bank fraud charges. Considering the nature of the crime, various bank employees, such as tellers, loan officers or currency traders, can become suspects.

However, this type of fraud can spread beyond the bank walls. Other individuals, such as accountants, business managers and cashiers, may also face charges, and it does not stop there. Considering the rise in internet scams, the spectrum of possible subjects is virtually endless.

The Process

With bank fraud being a federal crime, the United States Attorney’s Office indicts the individual, and the state usually tries the case. A guilty charge comes with very hefty penalties, including jail time of up to 30 years and possible fines that can reach one million dollars.

A bank fraud charge is a serious matter. If you are facing such an accusation, it is important to understand the laws of the state and the extent of the charges. It may also be beneficial to speak with a knowledgeable attorney who can try to help you understand all your options.

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