Fraudulent Banking: Where’s My Money? Essays

Fraudulent Banking: Where’s My Money? Essays

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Every day we make purchases, use our credit cards, write checks, and shop online. Money becomes bigger each day and so does greed. As technology continues to improve and change over the years, so has banking fraud. Despite banks and businesses finding new ways to protect their customers from fraud, it still occurs all around the world. The main types of fraud can be classified as check fraud, credit and debit card fraud, identity theft, and corporate fraud. There is a lot that differentiates these types of fraud, the criminal’s actions, the repercussions of their actions, and the indicators of possible fraud. Thankfully, businesses and banks are becoming more proactive by informing customers about fraud and their characteristics, which are usually explained on their website.

Check Fraud
The first type of banking fraud is check fraud. This is the action of writing checks with insufficient funds or using checks that are counterfeit. The guilty party is usually the person who signs the check, but sometimes in can be a third party or someone who merely passes the check along to someone else (“Bad Check Laws,” sec. 1). Victims can be either businesses or individuals, but the same goes for being a criminal; either party can be considered guilty in a situation. Technology today enhances the chances of check fraud or any fraud, actually.
Some types of check fraud would be forgery, counterfeiting and alteration, paperhanging, and check kiting (“Check Fraud Prevention,” sec. 2). A website called www.wisegeek.org provides a description of each type. Forgery is when someone signs a check and uses it without that person’s permission and most times without them knowing it. Counterfeiting is more complicated than forgery, but is still the s...


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...oration, 29 May 2009. Web. 17 Feb. 2014.

"Identity Theft and Identity Fraud." USDOJ: CRM: About the Criminal Division. The United States Department of Justice, n.d. Web. 17 Feb. 2014.

"Indiana Code 35-43-5." N.p., n.d. Web. 17 Feb. 2014. .

Kinsella, K. "What Is Corporate Fraud?" WiseGeek. Ed. Allegra J. Lingo. Conjecture, 22 Apr. 2014. Web. 25 Apr. 2014.

"Nine Ways to Prevent Fraud in Your Workplace." CBIA. N.p., May 2007. Web. 19 Feb. 2014.

"Statistical Data - Corporate Fraud." IRS. N.p., 23 Oct. 2013. Web. 19 Feb. 2014.

"What Are the Different Types of Check Fraud?" WiseGeek. Conjecture, n.d. Web. 17 Feb. 2014.

Yang, Jia Lynn, and Amrita Jayakumar. "Target Says up to 70 Million More Customers Were Hit by December Data Breach." Washington Post. The Washington Post, 10 Jan. 2014. Web. 25 Apr. 2014.

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