Bank Fraud Lawyer in Clinton North Carolina
One of the most important responsibilities of a bank or financial institute is to take proper care of the integrity of the institution by working hard to protect the assets that the bank keeps. To do this, the financial institution must be aware of the issue of bank fraud.
Bank fraud is basically defined as an illegal and unethical criminal act done by an individual or some organization to unlawfully possess the money from the bank. In general, it also encloses situations in which a person falsely poses as a bank for obtaining another person’s funds or investments illegally.
1. Accounting Fraud
This type of fraud involves mainly business lenders. The ones involved in this fraud make changes in the books, so they have an attractive image and look more profitable on paper than they are. After these types of fraudulent experiences, the bank provides loans to such businesses. But they don’t repay the loans and the bank bears a loss.
2. Loan fraud:
Not only accounting fraud leads to loan fraud. When individuals give false information to get a loan is also loan fraud. Likewise, if a thief steals someone’s identity and takes a loan in his identity that is also a loan fraud.
3. Frauds involving Bill Discounting
Although this type of banking fraud is rare but still needs to be understood. Generally, the fraudster firstly opens the business account in the bank and begins to receive bills from the business clients.
4. Fraud in ATM
So in this fraud involves everything from programming the machine to steal the bank card details. It also includes making false deposits by depositing involves with fake currency or being empty that result in ATM fraud.