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What Is Bank Fraud? 

by | Apr 7, 2022 | Criminal Defense, White Collar Crimes |

Commonly, when an individual hears about “bank fraud”, the first thing that comes to mind is Wall Street and high-ranking executives in the banking industry. However, this white-collar crime is not limited to unscrupulous executives in tall towers.

Bank Fraud is a federal offense, and it occurs when an individual attempts to fraudulently obtain property or money from a federally insured lending institution. It may also occur when an individual knowingly participates in a scheme against a bank by means of materially false pretenses, or statements.

Elements of Bank Fraud. 

Since it is considered a federal offense, the government needs to prove the following elements beyond a reasonable doubt to convict an individual of bank fraud. 

  • The offender knowingly and intentionally executed a scheme to defraud a financial institution or to get money, funds, assets, or other property from the financial institution by means of false pretenses. 
  • The fraudulent pretenses, promises, or representations about a material fact were material. 
  • The financial institution was federally insured. 

A person can be charged with similar crimes connected to bank fraud arising from elements such as wire fraud, forgery, money laundering, and mail fraud. 

Penalties for Bank Fraud in Florida. 

Bank Fraud is considered a third-degree felony, which means that a convicted person can face up to thirty years in federal prison and a $5,000 fine, in addition to probation of up to five years. 

Bank Fraud cases are complex and prosecuted by experienced government attorneys, which is why you need a professional and experienced criminal defense attorney on your side. If you or a loved one is being investigated or charged with this crime, get in touch with attorney Russell Spatz. He has over 40 years of experience and is ready to take on your case. Call him now at 305-442-0200.


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