Accused of Bank Fraud Hire a Criminal Attorney to Help You Develop an Effective Defense Strategy
If you’re being investigated for or have already been charged with bank fraud, you should speak with an experienced criminal attorney right away. Bank fraud is a serious crime punishable by prison andor possibly a huge sum of money for restitution. What is bank fraud It is a violation of the law by falsifying information at a financial institution or using a bank account to embezzle or steal monies from a bank. It is also considered bank fraud if you over-evaluate property or securities for the purpose of obtaining more monies than normally allowed. Bank fraud may also include false loan applications, the use of non-existent collateral to obtain a loan, or the misuse of borrowed funds.
Bank fraud is considered a white collar crime in most instances because it is often committed by those inside the bank, such as loan officers, tellers, currency traders, etc. It can also be committed by those outside the banking industry in the form of stolen checks, forgery, credit card fraud, identity theft, Internet fraud, etc.
In bank fraud cases, the United States Attorney’s Office will indict the accused, and this federal crime may be tried in certain state districts. Whether you are guilty or innocent of the bank fraud crime you’re being accused of, a criminal lawyer in your area that specializes in bank fraud can help you determine the best way to move forward in your case. Don’t walk this road alone; it’s too serious not to speak with an attorney. Here are some tips to help you find a dependable criminal defense lawyer.
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read moreCommercial Mortgage Loans – Institutional Funding Vs Private Funding (Banks Vs Hard Money)
It is more difficult to get a commercial mortgage loan today than it was two years ago. The credit crisis has prompted many commercial real estate investors to look into alternative sources of capital.
Private lenders, often called hard money lenders, have gained popularity recently as banks and Wall Street brokers have refused to make loans. It is true that privately funded commercial mortgage lenders can be more flexible and can close loans in just days, but that does not mean they are easy to get.
Before a property owner applies to a hard money lender they should understand the differences between institutional funding and private funding.
Regulation
Traditional lenders like banks, insurance companies and Wall Street investment houses are all highly regulated. Banks carry FDIC or other government insurance, insurance companies are watched over by each State Insurance Commission and Wall Street is governed by the Securities & Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FIRA). There is a tremendous amount of bureaucracy, red-tape and rules involved in originating conventional, institutional loans. All this regulation means that bank loans are slow, banks are not flexible and there are loads of paperwork and documentation involved.
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read moreThe Cons Of Bank Fraud
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 andor $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.
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read moreIdentity Theft Victims Part II
RESOLVING SPECIFIC PROBLEMS
I received a copy of my credit report and saw about a half dozen items that I didn’t know anything about. It’s affected my credit rating so badly that I couldn’t get a student loan. I didn’t realize there was a problem until my student loan application was denied.
From a consumer’s complaint to the FTC, May 25, 2004
While dealing with problems resulting from identity theft can be time consuming and frustrating, most victims can resolve their cases by being assertive, organized, and knowledgeable about their legal rights. Some laws require you to notify companies within specific time periods. Don’t delay in contacting any companies to deal with these problems, and ask for supervisors if you need more help than you’re getting.
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read moreIdentity Theft What to Do if You Think Your Identity Has Been Stolen
Over 19,000 people each day fall victim to identity theft according to studies done in 2003. Identity theft victims spend an average of $1,400 out-of-pocket and an average of 600 hours recovering from this crime.
There are several methods used by identity thieves to steal your identity. These methods include
Skimming Thieves steal your credit or debit card numbers by using a special storage device when you use your card.
Changing your address Thieves divert your billing statements to another location by fraudulently completing a change of address form. After receiving your billing statements an ID thief has all the information they need to begin robbing you.
Phishing ID thieves send you email pretending to be a financial institution or other company, hoping you will reveal your personal information by filling out a short form.
Dumpster Diving ID thieves rummage through garbage looking for bills or other documents containing your financial information.
Stealing ID Thieves steal items such as your wallet or purse, your personal records, your mail, etc.
There are some helpful steps you can take right away if you think your identity has been stolen. If you believe you may have fallen victim to any one of these or other ID theft schemes the first thing you’ll want to do is to contact the fraud departments of any one of the three major credit bureaus. You do not have to contact all three because once a fraud alert is placed on your file the other credit bureaus are automatically notified to place fraud alerts. You will then receive credit reports from all three major credit bureaus.
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read moreIdentify Theft – What is it and How do You Protect Yourself From it
What is identity theft
Identity theft is when a person steals personal information, such as the name, address, birth date, Social Security number or mother’s maiden name from another person in order to commit fraud. The thief then uses this information to impersonate the victim and take over their financial identity.
With a relatively small amount of information criminal can taking over banking, insurance or investment accounts, open new bank accounts, purchase automobiles, apply for loans and credit cards, receive Social Security benefits, rent apartments, and even establish utility and phone company services, all under the stolen identity.
How do identity thieves get personal information
While there is much in the media about internet based identity theft, there are lots of ways your personal information can be stolen, many of them much easier than internet theft.
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