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Fraud and getting money from banks

On Behalf of | Nov 15, 2022 | Fraud |

A white-collar crime that is often overlooked in Florida is bank fraud. While you might think that there is an abundance of security at these financial institutions, there are situations that occur that lead to large amounts of money being taken or sent to other accounts.

Forging documents

Among the federal crimes associated with bank fraud, forgery is one of the most common. This is when someone changes information on a check or another document that is used to obtain funds from the bank. It could be something as simple as adding a number to the amount that’s on the check to signing someone else’s name on the check or document.

Loans

Taking out a loan with fictitious information is another type of bank fraud. Some of the ways that a loan could be fraudulently obtained include providing incorrect information about your income in order to get more money, adding someone’s information to the loan who doesn’t live with you, or getting a loan that is used for illegal purposes. You could also commit fraud by getting a loan right before filing for bankruptcy.

Impersonation

When you receive information from a bank, it’s usually encrypted through an email or verified while you’re on the phone. Sometimes, a person can send false information in order to impersonate a bank employee in order to get access to accounts or to get you to send money to an account that they have. The impersonator could go to significant lengths to make the process look legitimate and legal, such as creating a website that looks and functions like a typical bank.

Several methods of bank fraud exist that can result in thousands of dollars being taken in a short time.