What is the Penalty for Bank Fraud in Arizona?

what is the penalty for bank fraudBank fraud is a serious crime, and it’s one where fraudsters are able to cheat banks or bank account owners out of large sums of money quickly. Individuals who commit brank fraud will face Arizona criminal law charges for their actions. The crime of bank fraud comes in many forms. No matter what kind of bank fraud you’re facing, find a good Arizona criminal law attorney to represent your case and ensure your long-term wellbeing.

Embezzlement

A person commits embezzlement when they are entrusted to care for property of someone else, but instead takes advantage of that relationship. Most often, embezzlement includes the misappropriation of money. This means that the money doesn’t necessarily go directly to the person committing the crime. The money could go to another third party to benefit them. Regardless, the money is still not with the person who rightfully owns it, making the actions a crime.

Stolen checks

Sometimes, criminals take advantage of the fact that most checks are not cashed on the spot. This means that they have the goods they used the fake check to pay for and they spent no money to receive the item. It will take a few days for the recipient to realize that the check is worthless, in which case the fraudster has generally already gotten away with the crime. In other cases, a person might forge a signature on a stolen check that removes money from a bank account that does not belong to the person who wrote the check, which is also a serious action. Regardless of how the check is improperly used, it counts as fraud.

Counterfeiting

Counterfeiting is the act of making something look like something it is not. In these cases, criminals use the counterfeit money to make purchases that they know will not be useful for the recipient. The person using the counterfeit money must knowingly spend it as fraud. In some cases, an individual might receive counterfeit money unknowingly and spend it elsewhere without knowledge of doing so. In those cases, this is not a crime because it’s incidental. It must be intentional.

Credit card fraud

Credit card fraud accounts for large financial losses each year. The purpose of credit card fraud is to get something without paying for it or to pay with funds that do not belong to you. Credit card fraud takes many different forms and includes identity theft in some cases.

Wire fraud

Wire fraud includes fraud that takes place over the phone or other communication source. In these cases, the person committing the fraud must do so intentionally, take money from someone else and use wire communications to commit the fraud.

Mortgage fraud

Mortgage fraud includes misinformation on a mortgage loan application that results in receiving a loan larger than the amount you would generally receive. It probably doesn’t sound too serious to try and get a larger mortgage than you would otherwise, but the punishment for such a crime can be as much as 30 years in prison if convicted.

ATM thefts

In an ATM theft, thieves use malware to get into a machine’s cash dispenser and steal money from unsuspecting users. Another way to exploit ATMs is to make them dispense cash using software.

Accounting irregularities

In accounting irregularities, an individual uses unlawful practices that deliberately deceive someone from receiving their money or illegally moves money elsewhere. This might include altering financial statements.

If you’re facing bank fraud charges, you should seek an attorney to represent your case. An Arizona criminal law attorney can help you protect your good name.

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