The Cons Of Bank Fraud

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A criminal defense attorney in California now tackles on the criminal cased that is bank fraud. Banking fraud is any falsification, thievery, misinformation or otherwise unlawful technique used to acquire cash by means of or from a federally regulated banking system. According to Title 18 of the U.S. Code, bank fraud is punishable by 30 years in prison and/or $1 million in financial penalty. Bank fraud costs the financial industry huge amounts of dollars annually and can be perpetrated by bank personnel, bank customers, third parties, or organized crime rings.Every time people are put in a position to handle huge amounts of money, and the opportunity for fraud presents itself, it is always a serious threat. Banks and financial institutions are constantly upgrading security to prevent insider fraud. The recorded cases of fraud have already been on the decline over the last several years. While computer monitoring and improved security certainly deter fraudulent practices, the threat still exists, and insider scam still occurs on a regular basis. It is said that white collar offenses are victimless crimes because they are not really violent. That account is not accurate, however. All of us pay for the crime of insurance theft by having to pay the cost of higher insurance fees. It is a real problem which affects every covered American and it’s a criminal offense which carries a significant punishment for the criminal. Because of this, some people try to commit the white collar crime of insurance scam to try and receive insurance profits even without the qualifying event.Keep your bank receipts until you receive your regular statement. Examine each receipt against the statement to be sure it has been recorded accurately. Review your receipt prior to leaving the teller line to make sure it fits your purchase. Count your money prior to leaving the teller window. Keep your ATM receipts and compare them against your monthly record. If you don’t get a statement when you expect it (either monthly or quarterly), inform the bank to ask for a replacement duplicate. If you’ve got a problem with your monthly statement, report it to the bank audit department, not the representative who handled the transaction. Never sign a blank document or an unfinished form. Keep all bank documents (passbooks, certificates of deposit) inside a secure location. By no means reveal passwords or PIN number with anyone including bank employees. Compare the fees, charges and rules with other banks to see and select the most favorable.Not too long ago, the collapse of the subprime financing market has sparked a flurry of case inquiries by the Department of Justice. Criminal defense attorneys represent customers in several cases which includes a subprime lender indicted in federal district court. There are a lot of articles on subprime home loans found in various articles and newspapers on the web.A criminal defense attorney in California adds that experts are in a distinctive position to make insurance scams. Since some professionals regularly bill insurance providers to be able to receive payments they could add a couple of claims in for work that was not actually completed. Doctors as well as dentists, for instance, could bill health insurance companies for treatments that they did not carry out or auto mechanics could bill car insurance companies for repairs that they didn’t do.