What are the penalties for bank fraud?

In Washington, the penalties for bank fraud are dependent on the severity of the crime. Generally, if the offense is minor and no one is hurt in any way, it may be punishable by a fine as low as a few hundred dollars. However, if the fraud was especially egregious or caused financial losses to other people, then the criminal may be subject to a fine of up to $1 million and/or a prison sentence of up to 30 years. For example, if someone were to falsify loan documents in order to acquire a loan from a financial institution, then they could face a fine of up to $1 million and a prison sentence of up to 30 years. Likewise, if someone were to write checks to themselves from a fraudulent account, they could face a fine of up to $250,000 and a prison sentence of up to 10 years. In Washington, the most severe punishments are reserved for criminals who commit white collar crimes such as embezzlement, money laundering, and insider trading. These crimes can be punishable by a fine of up to $2 million and/or a prison sentence of up to 20 years. No matter what kind of bank fraud has been committed, it is important for individuals to be aware that the punishments for these crimes are serious and can potentially affect their lives for many years to come.

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