Bank fraud is the use of potentially illegal means to obtain money, assets, or other property owned or held by a financial institution, or to obtain money from depositors by fraudulently posing as a bank or other financial institution. In many instances, bank fraud is a criminal offence.

Types of bank fraud

  • Stolen checks
  • Check kiting
  • Forgery and altered checks
  • Accounting fraud
    • Uninsured deposits
    • Demand draft fraud
  • Rogue traders
  • Fraudulent loans
  • Fraudulent loan applications
  • Forged or fraudulent documents
  • Wire transfer fraud
  • Bill discounting fraud
  • Payment card fraud
    • Booster checks
    • Stolen payment cards
    • Duplication or skimming of card information
  • Empty ATM envelope deposits
  • Impersonation
  • Prime bank fraud
  • The fictitious ‘bank inspector’
  • Phishing and Internet fraud
  • Money laundering