Bank fraud is not as uncommon as you might think. Baltimore business owners who want to protect their finances on a corporate or personal level often hire a professional Bank Fraud Investigator in Baltimore to research and discover internal and external issues involving fraud and fraud protection.
Forensic accounting is a specialty field accounting that involves training for uncovering potential and existing fraud within an infrastructure. Misuse of funds within an organization is one of the most common forms of bank fraud investigated at the internal level. Bank fraud cases encompass matters such as fake loan applications, false information on bank documents, false statements on property or other assets, and other misuses of money and other financial transactions. Bank fraud is a crime punishable by law. A Bank Fraud Investigator in Baltimore investigates to uncover the source of the fraud.
When is it bank fraud?
The basic guidelines of bank fraud involve anyone who knowingly attempts or completes a plan to defraud any financial institution or to obtain money, credits, securities, assets, or other properties owned by the financial institution by using fraudulent or false information or representation.
What is a false statement?
Anything not true is false. False information regarding the value of a property or one’s assets is considered a false statement and is illegal, fraudulent activity. In other words, any false data knowingly and purposefully provided on banking documents is considered fraud. The consequences of committing bank fraud can be up to $1,000,000 or imprisonment for up to 30 years. Every case is different and is, therefore, judged accordingly by the appropriate criminal courts. A Bank Fraud Investigator in Baltimore often testifies in these cases and serve the court as an expert witness where fraudulent activities are concerned. While the courts in Baltimore, Maryland will handle the consequences of bank fraud, a specially trained forensic accountant will be the person to gather the information and uncover the perpetrators. If you suspect bank fraud or any other internal or external fraudulent activity within your organization or financial institution, Business Name is a trained forensic accountant with the knowledge and ability to perform tasks related to bank fraud. His vast experience in investigative accounting allows him to bring these types of criminals to justice.
