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Bank Fraud Defense Lawyer in Fort Myers

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Bank fraud is a general term that refers to the multiple different ways people seek to obtain money or assets owned or held by a financial institution. In most instances, bank fraud violates federal and state laws. Therefore, an accusation of involvement with a fraudulent scheme should not be taken lightly. A Fort Myers bank fraud defense lawyer from Joffe Law, P.A. is available to counsel and represent individuals who are facing related charges.

Accounting fraud cases

Some of the most infamous bank fraud cases have involved major corporations that were implemented in accounting fraud schemes. Companies engage in fraudulent accounting practices to artificially inflate the appearance of their financial health. Lenders and analysts rely on the company’s fabricated information in determining the level of risk investors and financial institutions may be undertaking if they invest in the company or extend loans to the company. Notorious examples of companies that engaged in accounting fraud include Enron, World Com, and Ocala Funding.

Identity theft

Impersonation, more commonly known as identity theft, is classified as a form of bank fraud. Crime rings commit identity theft in several ways. The objective of this type of fraud is usually to obtain a potential victim’s personal information and open credit cards and accounts in the individual’s name without authorization. Many are surprised to learn there are several types of identity theft. Some examples include:

  • financial identity theft
  • tax identity theft
  • account takeover
  • child identity theft
  • medical identity theft
  • phishing
  • synthetic identity theft
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Financial identity theft

Financial identity theft occurs when a fraudster opens new accounts in the victim’s name or uses the victim’s existing accounts. Credit card fraud can be considered a form of financial theft. Fraudsters may also take over or open new loans, insurance policies, subscriptions, and other types of accounts.

Tax identity theft

If an identity theft ring obtains an individual’s social security number, they may be able to file a fraudulent tax return and wait for the IRS and state revenue agency to send a refund if the victim is owed one. People who have been targeted by tax fraud typically do not know they are victims until after they attempt to file a legitimate tax return with their personal information.

Account takeover schemes

Fraudsters use stolen credentials and other techniques to gain unauthorized access to a victim’s credit card, shopping account, or another account. Takeover attacks have become more common in online spaces like Facebook Marketplace and other social media sites where fraudsters can list items for sale to make the stolen account seem legitimate.

Child identity theft

Children are sometimes the targets of identity theft and bank fraud because they have clean credit profiles. It is not uncommon for family members to target children’s personal information and use the information to open accounts, including lines of credit. The fraudster uses the child’s Social Security Number and pairs it with a fake birthday to create a new credit profile.

Medical identity theft

Identity theft attackers use victims’ personal information to obtain prescription drugs they can later sell illegally. The victim is usually unaware the fraudster has received medical services and obtained a prescription under his or her name. Therefore, the unknowing victim may have unpaid medical bills for services he or she did not receive. Fraudsters access victims’ personal information by hacking into the healthcare system’s outdated cyberinfrastructure.

Synthetic identity theft

A newer form of fraud, synthetic identity theft involves fraudsters combining both stolen and fake data to create entirely new identities. With the new identity, the fraudster slowly builds a credit profile by starting with secured credit lines and then opening unsecured lines of credit. After building a credit profile with several accounts, the fraudster maxes out each line of credit and then moves on to the next identity.

Phishing and bank fraud schemes

Phishing is another name for internet fraud that occurs when a fraudster sends a potential victim a deceptive email that appears to be from a financial institution. The email most often directs the recipient to click a link to a fake website that has been designed to resemble the financial institution’s real website. The forged website contains a log-in field that captures the potential victim’s log-in credentials, allowing the fraudster to access the information and use it to log into the victim’s account on the financial institution’s real website. Other forms of phishing involve emails or text messages that direct the potential victim to click a link or download a file that contains a trojan horse virus. The virus obtains the victim’s passwords by monitoring his or her keystrokes.

Wire transfer fraud

Fraudsters who work in the banking industry use wire transfer networks to forge documentation and change the destination of wired funds. The fraudulent requester often redirects the funds to an offshore bank account, making it difficult or nearly impossible for the origin bank to reverse the transaction. Country-to-country wire transactions are also vulnerable to fraud. These transfers may take up to a few days to be finalized. An inexperienced or corrupt bank officer or teller may assist fraudsters by approving the transaction for withdrawal before the funds clear. The fraudster cancels the transaction after making the withdrawal, thereby leaving the bank to cover the loss.

Fighting bank fraud charges in Fort Myers

Individuals who are accused of bank fraud may face charges that can result in state and federal prison sentences and massive fines. Fort Myers federal defense attorneys represent individuals who have been charged with bank fraud. There are several defenses an attorney may raise to attack a prosecutor’s case. If the individual proves he or she did not intend to engage in fraud, the defendant cannot be convicted.

Our expert Florida criminal defense lawyer will gather the important facts and devise a solid defense that is most appropriate for your case. Contact us today to receive a confidential case evaluation free of charge.

Serious federal cases only.

Serious federal cases only.

Serious federal cases only.

Serious federal cases only.

Serious federal cases only.

Serious federal cases only.

Serious federal cases only.