CALL FOR A CONSULTATION 407-682-5553 407-682-5553

Bank Fraud (18 U.S.C. § 1344)

Whoever knowingly executes, or attempts to execute, a scheme or artifice —

  1. to defraud a financial institution; or
  2. 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;

shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.

To convict under the federal bank fraud statute, 18 U.S.C. § 1346, the government has to prove that a defendant (1) knowingly and willingly devised a scheme or artifice to either (1) defraud a federally insured bank or obtain money or property under the custody or control of a specific United States bank, by means of materially false or fraudulent pretenses, representations, or promises; (2) that the defendant  did this with the intent to victimize the named victim bank by exposing the named bank to actual or potential loss; (3) that the named banks were insured by the Federal Deposit Insurance Corporation or the Federal Savings and Loan Insurance Corporation; and (4) that the defendant either executed, or attempted to execute, the scheme or artifice to defraud the named victim United States bank, or that the defendant executed, or attempted to execute, the scheme to obtain money or property under the custody or control of these specific United States banks, by means of materially false or fraudulent pretenses, representations, or promises.

Types of bank fraud

  • embezzlement
  • forgery
  • identity theft
  • mortgage scheme
  • false statements

Nav Map