Reported Bank Fraud May on the Rise

 Posted on February 28, 2020 in Fraud

When the FBI announced this past year that bank fraud was on the rise, it did not come as a surprise to many. Today, information is kept on servers and computers, which skilled hackers can learn how to access to commit fraud. Unfortunately, not everyone charged and arrested for bank fraud is guilty. Overzealous law enforcement officials often charge the wrong person in pursuit of making arrests and helping the prosecution with securing a conviction.

Due to this overeagerness, there are many people that need a strong defense against bank fraud charges. Some of the most common defenses used are found below. If you have been charged, an experienced federal criminal defense lawyer will use one or more of these when proving your innocence.

Lack of Intent

Many fraud offenses require the defendant to have the intent to defraud someone else, and bank fraud is no different. If you did not have the intent to defraud a bank, or a person through their bank account, you cannot be convicted of fraud. To prove that you did not have intentions of fraud, your lawyer can introduce evidence that shows that you tried to correct the situation.

For example, if you apply for a loan with a bank, you may have accidentally added a number to your income. If you noticed the mistake right away and contacted the bank to alert them of the error, this could prove that you had no intention of defrauding the bank.

You Were Acting in Good Faith

The defense of acting in good faith is similar to the defense of lacking the necessary intent to defraud a bank. However, the difference lies in the fact that when you act in good faith, you believe your actions are legal.

For example, you may apply for a business loan for a piece of equipment and state that it is going to cost $10,000 because that was the amount in the quote you were given. After receiving the equipment and having it installed, the equipment only cost $8,000. Although you told the bank it was going to cost more than that, and so they gave you more money as a result, you acted in good faith based on what you were told. This is not enough evidence to convict you of fraud.

You Were Under Duress

Duress is a solid affirmative defense for many offenses. This defense states that you did defraud a bank and that you had full intention to commit a crime. However, the defense of duress also states that you only did it because another person was threatening you or your family with physical violence if you did not commit the act.

Our Illinois Federal Criminal Defense Lawyer Can Help with Your Charges

Bank fraud is becoming a common crime, but not everyone charged is guilty. If you have been wrongly accused of fraud, call our skilled Chicago federal criminal defense lawyer at the Law Offices of Hal M. Garfinkel. Attorney Garfinkel understands how to craft a solid defense and he will use his experience to give you the best chance of beating the charges. Call us today at 312-629-0669 to schedule your free consultation.

Source:

https://www.forbes.com/sites/tomgroenfeldt/2019/03/18/credit-card-fraud-is-down-but-account-fraud-which-directly-hurts-consumers-remains-high/#2681618720bf

https://www.law.cornell.edu/uscode/text/18/1344