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Topic: Bank fraud

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	deposit fraud
		Attempted deposit fraud at banks nationwide totaled $4.3 billion in 2001, almost double the $2.2 billion recorded in 1999, according to a study by the American Bankers Association.
		The figures show that banks are doing a pretty good job of holding the line on actual losses, but attempts to defraud banks are skyrocketing, and that means banks have to devote more resources to the problem.
		Dick Clausen of Bank of America says customers need to be more careful to whom they give their personal information, but when they want to open a bank account they should expect to hand over more than a driver's license.
	www.bankrate.com /brm/news/chk/20021203a.asp (1162 words)

	OCC: Consumer Complaints and Assistance - Prime Bank Fraud
		Bank of China notes were also occasionally seen, but usually guaranteed by one of the leading international banks.
		Former Senior National Bank Examiner and founder of the OCC's Offshore Banking and Fraud Section, John Shockey, recalls self-liquidating loan proposals from the 1950's and the onslaught of the Prime Bank Frauds in the 1970's with its subsequent evolution into the current Bank Trading Programs.
		The Office of the Comptroller of the Currency was created by Congress to charter national banks, to oversee a nationwide system of banking institutions, and to assure that national banks are safe and sound, competitive and profitable, and capable of serving in the best possible manner the banking needs of their customers.
	www.occ.treas.gov /Prime_Bank_Fraud.htm (1221 words)

	Bank Fraud: Empty envelope deposits, Cheque Kiting, Countrefeit Cheques, Forged signatures: all are Criminal Offences ...
		Bank Fraud is a billion dollar a year Industry in North America that affects every Financial Institution and you, because the fraud costs are passed on to the Consumer as they are in every other Industry.
		Bank Fraud is a way of life for some people and a means to a short-term loan for others.
		This is criminal fraud as in the fraud definition on the home page,and although this may not result in criminal charges, there are consequences of which one should be aware.
	www.criminalfraud.com /bank-fraud.php (1355 words)

	Bank Fraud
		One of the problems with enforcing bank fraud laws is that it is often relegated to a low priority, or ignored altogether, because the activity can span several jurisdictions, involve many unidentified subjects, is non-violent and usually there are few leads.
		Normally, the typical bank robber nets $700 and is caught within 24 hours, yet the average check scam involves losses of more than $2,000, the perpetrators are seldom caught, and there are more than one hundred times as many cases as bank robberies.
		Many bank fraud suspects are able to elude arrest by furnishing false identification when cashing stolen, forged, or counterfeited checks.
	www.buttecounty.net /da/bankfraud.htm (1500 words)

	Bank Fraud Attorneys, White Collar Lawyers, Charleston SC: Criminal Defense, Forged Checks
		Fraud instead is measured in a particular case by determining whether the scheme demonstrated a departure from fundamental honesty, moral uprightness, or fair play and candid dealings in the general life of the community.”).
		An attempt or conspiracy to commit bank fraud is subject to the same criminal penalties as the substantive bank fraud.
		South Carolina prohibits bank fraud, which is a Class E felony with a penalty of up to ten years imprisonment and/or up to a $10,000 fine.
	www.joegriffith.com /bank-fraud.html (2221 words)

	Federal Crimes - McNabb Associates, P.C.
		Bank Fraud is the "criminal offense of knowingly executing, or attempting to execute, a scheme or artifice to defraud a financial institution, or to obtain property owned by or under the control of a financial institution, by means of false or fraudulent pretenses, representations, or promises." BLACK'S LAW DICTIONARY 685 (8th ed.
		Therefore, state-chartered, non-federally-insured branches of foreign banks would not fall under the purview of section 1344 since its principal oversight comes from the state, not federal regulatory systems.
		Furthermore, the bank does not actually need to be harmed as long as the defendant acted with the requisite intent.
	www.federalcrimes.com /bankfraud.htm (475 words)

	Citizens Bank \| Citizens Bank Home
		Citizens Bank is a brand name of RBS Citizens, N.A. and Citizens Bank of Pennsylvania.
		Citizens Bank is a division of RBS Citizens, N.A. and Citizens Bank accounts and other RBS Citizens, N.A. accounts are not separately insured by the FDIC.
		Citizens Bank of Pennsylvania is not part of RBS Citizens, N.A. Member FDIC
	www.citizensbank.com /home (134 words)

	Federal Bureau of Investigation - Common Fraud Schemes
		Nigerian letter frauds combine the threat of impersonation fraud with a variation of an advance fee scheme in which a letter, mailed from Nigeria, offers the recipient the "opportunity" to share in a percentage of millions of dollars that the author, a self-proclaimed government official, is trying to transfer illegally out of Nigeria.
		Other letter of credit frauds occur when con artists offer a "letter of credit" or "bank guarantee" as an investment wherein the investor is promised huge interest rates on the order of 100 to 300 percent annually.
		The purpose of these frauds is generally to encourage the victim to send money to a foreign bank where it is eventually transferred to an off-shore account that is in the control of the con artist.
	www.fbi.gov /majcases/fraud/fraudschemes.htm (2914 words)

	Check Forgery and Bank Fraud Answers from the OCC
		The bank paid a check when it was obvious that the signature was not mine.
		However, if the bank can prove two things—that it accepted the check in good faith and exercised ordinary care and diligence in handling the transaction—it may not be liable.
		Even though a bank pays over a forged endorsement, it is the account holder's responsibility to discover the problem and notify the bank.
	www.helpwithmybank.gov /faqs/banking_fraud.html (1385 words)

	United States Secret Service: Financial Crimes Division
		A recent American Banking Association (ABA) survey concluded that the two major problems in the area of bank fraud today are: (1) the fraudulent production of negotiable instruments through the use of what has become known as "desktop publishing," and (2) access device fraud.
		Fraud associated with EBT programs is a violation of two of the Secret Service's primary jurisdictions: Title 18, United States Code, Section 1029, Access Device Fraud and United States Code, Section 1030, Computer Fraud.
		Nigerian nationals, purporting to be officials of their government or banking institutions, will fax or mail letters to individuals and businesses in the United States and other countries.
	www.secretservice.gov /financial_crimes.shtml (3223 words)

	Offshore and Banking Fraud
		According to U.S. banking regulators and other observers, one thing is certain: We haven't seen the last of this kind of scam.
		FBI officials (who intervened when they found the bank had no charter and was simply a fraudulent business) seized telephones and computers from Netware's Mooresville, N.C., offices in the July raid, and froze assets of some $600,000.
		Mar. 15, 1999 -The banking industry has long banked on public trust, but a new technology scam threatens to erase customers' deposits as well as their trust.
	www.cbintel.com /fraudbanking.htm (1696 words)

	BANK LOAN FRAUD
		The check you wrote (your promise to pay), is returned to your bank, and the Demand Deposit Account, that has your name and the Account Number attached to it, will be debited, for the amount you assigned to the check.
		Modern Money Mechanics tells us, if the banks were to take their own money, or other depositor's money, and loan it to you, they would never be able to create any "new" money and birth it into the economy.
		Which means, the bank enriched itself in an amount equal to the face amount of your note.
	www.whatreallyhappened.com /bankloanfraud.html (1299 words)

	WorldCom CFO faces bank fraud charges - theage.com.au
		Those charges essentially contend Sullivan lied to the banks when obtaining loans for WorldCom by attesting to the accuracy of the financial statements that the government says were fraudulent.
		Several of his former colleagues have pleaded guilty in the case and are cooperating in the investigation.
		The bank fraud charges each carry a maximum sentence of 30 years in jail, by far the largest of any of the counts.
	www.theage.com.au /articles/2003/04/18/1050172745822.html (373 words)

	Bank Technology News \| The Demographics Of ID Fraud
		Results from the 2006 Identity Fraud Survey Report indicate that-of the 47 percent of victims who knew how their information was stolen-businesses accounted for 28 percent of the breached access points to consumer information, including: employee malfeasance at 15 percent, fraudulent transaction processing at seven percent, and data breaches at six percent.
		As a result, the length of misuse is 60 percent shorter, the fraud amount is 25 percent lower, the consumer cost is 60 percent lower, and the resolution time is 55 percent quicker for the higher-income group than the average for their counterparts.
		Fraud losses incurred from cases related to Caucasians do represent the majority of the total annual loss at $32.7 billion; yet the rate of victimization and mean fraud loss amount for this demographic is less than the average for all ethnicities.
	www.banktechnews.com /article.html?id=200606014828WN3Y (2688 words)

	U.S. Bank Fraud Prevention
		If the cardholder is uncomfortable with the call, they can request the Fraud Investigations Representative to provide their name and phone number to return the call and proceed with the inquiry.
		At such time, U.S. Bank will send the cardholder an affidavit to be signed and returned in a timely manner verifying which charges are fraudulent.
		At such time, U.S. Bank will send the cardholder an affidavit to be signed and returned in a timely manner verifying the charges are fraudulent.
	www.colorado.gov /travel/usbank_fraud_prevention.htm (421 words)

	Pacific Coast National Bank - Fraud Prevention
		Counterfeiting bank cashier's checks is one of the latest crime fads, and con artists are making a good living at this scam.
		When the person who volunteers their services to help move the money indicates they don't have the money to pay the necessary fees, the scammer says they have a check (which is counterfeit) that they say they obtained from someone who was willing to advance the money for the needed fees.
		When the counterfeit check is returned unpaid from the bank that it is supposedly drawn on, the bank customer becomes liable for the check and has to return the money to the bank.
	www.pacificcoastnationalbank.com /site/fraudprevention.html (2325 words)

	Prime Bank Fraud Information Center
		Prime bank programs often claim investors' funds will be used to purchase and trade "prime bank" financial instruments on clandestine overseas markets in order to generate huge returns in which the investor will share.
		Some promoters of these schemes avoid using the term "Prime Bank note," and tell prospective investors that their programs do not involve prime bank instruments in an effort to demonstrate that their programs are not fraudulent.
		Despite numerous SEC actions charging prime bank promoters with multiple violations of the federal securities laws, prime bank offerings continue to proliferate in cyberspace.
	www.sec.gov /divisions/enforce/primebank/howtheywork.shtml (591 words)

	Bank Fraud Charges : Internet & Check Fraud \|Dallas/Fort Worth, Texas (TX) \|Legal Defense Services
		Bank fraud is defined as planning to defraud a financial institution to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises.
		The statute for bank fraud states bank fraud to be a scheme,
		If you or a loved one has been accused of alleged bank fraud, contact bank fraud defense attorney John Teakell for your 100% free consultation by submitting your information here.
	www.federaldefensecases.com /bank-fraud.php (198 words)

	Welcome to My Valley My Bank
		If you receive a check that claims to be an Official Bank Check for an amount greater than the purchase with a request to wire transfer the excess funds back to the purchaser or another party – this should be a red flag that the transaction is potentially fraudulent.
		Consumer enters bank and negotiates a cash withdrawal from their account and gives the money to the stranger who places it with the found money in a bag or box.
		Someone claiming to be a bank official, FBI agent or police officer contacts a bank customer and indicates that they are investigating suspected employee fraud at the bank and needs the customer’s help in trapping the thief.
	www.myvalleybank.com /sec_fraud.htm (1205 words)

	12-step program for ID theft victims (Page 1 of 3)
		If a bank account or existing credit line has been affected, shutting it down should be the first order of business.
		After that, there is a $500 liability limit for up to 60 days after the statement reflecting the fraud is mailed.
		After you've filed a police report or filled out the ID theft complaint form from the FTC, you can put an extended fraud alert on your credit file which will last seven years.
	www.bankrate.com /yho/news/financial_literacy/identity_theft/what_victims_should_do_a1.asp (377 words)

	Cathay Bank - Online Fraud
		Although Cathay Bank may legitimately need to contact you by telephone, ask for a call back number if you're suspicious of the call.
		Fraudulent copycat websites are a type of Internet fraud where the fraudsters imitate the websites of reputable or well-known financial institutions when in fact the websites are not authorized or related to the relevant financial institutions in any way.
		If you wish to file a complaint about Internet fraud, please see www.econsumer.gov website, hosted by the Federal Trade Commission, which is a joint effort of consumer protection agencies from 17 nations at http://www.econsumer.gov/english/ or go to the Federal Bureau of Investigation (FBI) http://jackson.fbi.gov/internetfraud.htm.
	www.cathaybank.com /a_OnlineFraud.asp (827 words)

	Bank Fraud Lawyers - Criminal Defense Attorneys - Bank Robbery Attorneys - Law Firm of Joseph H. Low, IV
		If you are currently facing charges of bank fraud, online bank fraud, bank robbery, ATM fraud, or any other type of bank related criminal charge, you should hire an aggressive bank fraud attorney right away.
		Being associated with bank fraud or bank robbery is also a crime, meaning that a person who did not commit the bank fraud/robbery, but assisted in some way or covered up the crime has violated the law and will be punished.
		Bank Fraud Defense Attorneys Disclaimer: The bank fraud, bank robbery, fraud defense, online bank fraud, bank check fraud, federal crime or other criminal defense information presented on this site should not be construed to be formal legal advice, nor the formation of a lawyer or attorney client relationship.
	www.californiafederalcriminallawyers.com /bank_fraud.shtml (608 words)

	Prime Bank Fraud
		LOS ANGELES--The alleged mastermind of a "prime bank" fraud scheme in the mid-1990s that promised fabulous returns on investments, but instead cost more than 30 victims almost $3.5 million, was sentenced Feb. 18 to 46 months in federal prison, the U.S. Attorney in Los Angeles announced Feb. 19 (U.S. v.
		In addition to John M. Thomas, who authorities charge orchestrated the investment fraud, Cenobio Herrera Lanz, who purported to be a licensed escrow officer safeguarding the victims' money, was also sentenced Feb. 18, to 33 months in prison for his role in the scheme, the U.S. Attorney added in a statement.
		Previously, two other participants in the scam, William Lewis, the highest producing broker used by Thomas to solicit investors, and Michael Gibbons, who said he was a program trustee, pleaded guilty to charges related to the scheme, and each was ordered to pay $1.6 million in restitution, the U.S. Attorney said.
	www.quatloos.com /prime_bank_fraud.htm (616 words)

	Bank Fraud in Middlesex County 1972-73
		The SCI canceled public hearings in this investigation at the request of bank examiners who feared a bank would be forced to close in the face of adverse hearing disclosures.
		Federal authorities, after receiving the SCI’s investigative findings and data, arrested Santo R. Santisi, who had been president of the targeted Middlesex County Bank, on charges of misapplication of more than $500,000 in bank funds, authorizing bank loans not approved by bank directors to a holding company he controlled and to his associates.
		A member of the bank’s board of directors pleaded guilty and was sentenced to a one-year prison term.
	www.state.nj.us /sci/bankfraud.shtm (156 words)

	Centrue Bank - Fraud Protection (Site not responding. Last check: )
		Fraud is a term that has become part of our everyday vocabulary.
		The scam states that funds have been deposited with Centrue Bank Financial, Inc. (a fictitious company) and includes a check for $3,999 to "assist in legal and administration fees." The fake letter asks you to keep your winnings from the public until the claim can be processed.
		Centrue Bank is not a part of the scam and the included check is fake and cannot be cashed.
	www.centrue.com /fraud_safety.html (2436 words)

	Banks Fight Online Fraud - News by InformationWeek
		This enables bank security officials to react to emerging fraud schemes more quickly and write and revise automated fraud-detection rules based on the most current trends, which are constantly changing.
		Check fraud continues to be one of the biggest fraud problems the industry faces, despite the decline in the number of paper checks, according to Lekan and James Penn, vice president of marketing for Union Bank of California ($50 billion in assets) in San Francisco.
		One form of fraud that is experiencing a resurgence is mortgage fraud, which has heated up along with housing prices, according to Charles Freeman, chief credit officer for Long Beach Bank, the subprime origination arm of Seattle-based Washington Mutual ($319.7 billion in assets).
	www.informationweek.com /story/showArticle.jhtml?articleID=167100779 (905 words)

	The implosion of Chalabi's Petra Bank - Salon (Site not responding. Last check: )
		Guardian the trigger for Petra's closure was the decision of Jordan's central bank governor to tighten up on the outflow of foreign exchange in order to prop up the country's currency.
		When he ordered 20 Jordanian banks to deposit 30 percent of their foreign exchange holdings with the central bank, Petra alone was unable to comply.
		Fourteen percent of the bank's assets, or about $130 million before the Jordanian devaluation, were dubious loans to, or commitments from, "related parties" -- meaning members of the Chalabi family network, who had a high rate of default on them.
	dir.salon.com /story/news/feature/2004/05/04/petra/index_np.html (962 words)

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