Bank Fraud & Wire Fraud is a Federal Crime in California (2024)

If you are accused of bank fraud or wire fraud in California, it is important to understand that these are federal crimes that involve using fraudulent means to obtain money or assets from a financial institution or wire transfer system. These crimes can cause significant financial harm to individuals and businesses and are taken very seriously by law enforcement agencies at the federal and state levels. In this article, we will explore the specific definitions and types of bank and wire fraud, how these crimes are prosecuted in California, and what steps you can take to protect yourself from falling victim to these schemes.

It is important to note that if you are accused of bank fraud or wire fraud in California, you should contact a defense lawyer as soon as possible. RP Defense Law, APC is a highly experienced defense law firm that can help you navigate the legal process and defend your rights.

What is Bank Fraud?

Bank fraud refers to any type of fraudulent activity that involves a financial institution or bank in California. This can include forging checks, using stolen credit card information to make fraudulent transactions, or opening accounts under false pretenses to obtain loans or other financial products.

Bank fraud is a federal crime under 18 U.S.C. § 1344, which prohibits anyone from using fraudulent means to obtain money, assets, or other property owned or under the control of a financial institution in California. This law applies to all banks, credit unions, and other financial institutions that are federally insured or regulated, as well as to any transactions that involve the use of the federal banking system in California.

What is Wire Fraud?

Wire fraud is any type of fraudulent scheme involving wire, radio, or television communications to facilitate the crime in California. This can include activities such as wire transfers, electronic fund transfers, or the use of email or text messages to solicit or obtain money or property through fraudulent means in California.

Like bank fraud, wire fraud is a federal crime under 18 U.S.C. § 1343, which prohibits using wire, radio, or television communications to defraud anyone of money or property in California. This law applies to any type of wire communication, including telephone calls, emails, and text messages, as well as to any transactions that involve the use of the federal wire transfer system in California.

Types of Bank and Wire Fraud in California

There are many different types of bank and wire fraud that can occur in California, and these crimes can take many forms.

Some common examples of bank and wire fraud in California include:

Phishing scams: These scams involve sending fake emails or text messages that appear to be from a legitimate bank or financial institution and requesting sensitive information such as login credentials or account numbers in California.

Lottery scams: In these scams, the victim is contacted and told that they have won a large sum of money in a lottery or sweepstakes but must pay a fee in order to claim their prize in California.

Investment scams: These scams involve soliciting investments in fake or fraudulent businesses or financial products and then using the funds for personal gain rather than investing them as promised in California.

Ponzi schemes: These schemes involve using money from new investors to pay returns to earlier investors in order to create the appearance of a profitable investment in California. Eventually, the scheme collapses and many investors lose their money in California.

Mortgage fraud: This type of fraud involves making false statements or omitting important information on a mortgage application to obtain a loan for which the borrower would not otherwise be eligible in California.

Identity theft: This crime involves using someone else’s personal information, such as their name, social security number, or bank account information, to obtain credit or other financial products in their name in California.

How is Bank and Wire Fraud Prosecuted in California?

Bank and wire fraud are federal crimes and are generally prosecuted by the U.S. Department of Justice (DOJ) in California. However, state law enforcement agencies may also investigate and prosecute these crimes, mainly if the fraud occurs within their jurisdiction in California.

In California, bank and wire fraud cases are often handled by the DOJ’s Financial Fraud and Cybercrime Unit based in California. This unit is responsible for investigating and prosecuting a wide range of financial crimes, including bank and wire fraud, mortgage fraud, and other types of financial scams in California.

Trending Bank & Wire Fraud Defense Tactics

Here are a few newer criminal defense tactics that may be used in cases involving bank and wire fraud:

1. Cybersecurity experts: With the increasing use of technology in bank and wire fraud cases, defense attorneys may use cybersecurity experts to challenge the prosecution’s case. These experts can help to analyze digital evidence and determine whether it has been tampered with or is otherwise unreliable.
2. Data analytics: Defense attorneys may use data analytics to challenge the prosecution’s case in bank and wire fraud cases. This can include analyzing financial data to identify inconsistencies or irregularities that may indicate innocence.
3. Digital forensics: Defense attorneys may use digital forensics experts to examine electronic devices and other digital evidence in bank and wire fraud cases. These experts can help to identify any tampering or other issues that may affect the reliability of the evidence.
4. Financial experts: In cases involving complex financial transactions, defense attorneys may use financial experts to help explain the underlying transactions and challenge the prosecution’s case.
5. Social media defense: As with other types of criminal cases, defense attorneys may use social media evidence to build a defense in bank and wire fraud cases. This can include using posts, photos, and other online activity to demonstrate that the accused is not guilty or to challenge the prosecution’s case.

Accused of Bank Fraud or Wire Fraud?

If you are accused of bank fraud or wire fraud in or outside of California, you will likely face federal criminal charges and could be subjected to severe penalties if convicted. These penalties can include fines, imprisonment, and restitution to the victims of the fraud. It is important to seek legal representation as soon as possible if you are facing charges of bank or wire fraud.

It is important to remember that you are innocent until proven guilty. It is also essential to understand that these are serious crimes that carry significant consequences, which is why it is crucial to seek legal representation as soon as possible. RP Defense Law, APC is a highly experienced defense law firm that can help you navigate the legal process and defend your rights. It is important to remember that an experienced defense lawyer can help you build a strong defense and protect your rights throughout the legal process. Do not hesitate to contact RP Defense Law, APC if you have been accused of bank fraud or wire fraud in Los Angeles, California.