What is bank fraud?
Bank fraud is a type of white collar crime that involves deceiving a financial institution, such as a bank, with the intent to illegally gain money or property. Bank fraud can take many forms, including a fraudulent loan application, fraudulent use of credit cards, or check kiting. In Oregon, bank fraud is defined as knowingly, and with intent to defraud, making or uttering any false or fictitious written instrument, or deposit slip, or withdraw slip issued by a financial institution, or submitting a false statement to a financial institution in order for someone to gain money, property, or services. Bank fraud is considered a serious offense in Oregon. If found guilty, violators can face a Class C felony charge, which carries a maximum prison sentence of five years, and a fine of $125,000. Furthermore, individuals who commit bank fraud can be subject to civil liability, which could include paying restitution to the financial institution for any losses sustained as a result of the fraud. In order to prevent fraud, Oregon has implemented various prevention measures, including background checks, discouraging criminals from opening bank accounts, and monitoring suspicious banking activities. Banks are also required to have anti-fraud policies in place and to provide customers with fraud protection. Additionally, individuals can protect themselves from falling victim to fraud by following good security practices, such as regularly monitoring their accounts and not sharing account information with others.
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