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16 Mar 2020

Banking fraud is a serious white-collar crime that can hold a business or company in disgrace and also involves severe punishments or penalties if found guilty.

So what should you do if you are being accused of fraud? Whether or not these are false allegations, you can make things worse by not seeking out professional help promptly.

Which is where we come in, give ABV Solicitors a call if you and your company are under investigation for banking fraud.

A fraud solicitor has the relevant knowledge and experience, and can provide you with sound legal advice and representation from the start of the investigation, through to its conclusion.

Knowing what you are being accused of; defining bank fraud

As your fraud solicitor will inform you, banking fraud is defined as illegally siphoning assets or property held by a financial institution or its customers.

The types of banking fraud include but are not limited to, the following:

• Mortgage fraud
• Investment fraud
• Credit card fraud and cloning
• Internet banking fraud, which incorporates card payment fraud and push payments.

How is a verdict reached?

Being found guilty can have far-reaching consequences, affecting every avenue of your life, including your freedom.

However, how a verdict is reached depends upon a few factors, namely:

• Culpability – this looks at your involvement and knowledge of the fraudulent activity committed. For example, you may have little involvement, however, knowing about an illegal activity occurring in a workplace and not reporting it could implicate you.
• The extent to which your actions have impacted your victims and their livelihood.
• Whether or not you submitted a guilty plea from the start
• If you attempted to conceal or destroy evidence

How our team of fraud solicitors help you

This type of crime requires special knowledge, which is what our experienced legal representatives can offer you. The time to hire solicitors for fraud is the moment you learn about the allegations made against you.

Sometimes, fraud cases arise out of miscommunication and not fact. If this occurs, and a lack of evidence is uncovered, allegations made against you are dropped. Provide us with all your documents, paychecks, bank statements, and we will meticulously prepare your defence to prove you are innocent of wrongdoing if that is the case.

If you have been asked to answer questions, ensure that you have spoken with your fraud solicitor first. If you do not have legal representation, you may relay information that can be used as evidence against you.

Can I represent myself?

Defending yourself against the allegations made against you is never a good idea. Even if you are knowledgeable about the law, our fraud solicitor knows the ins and outs of the field.

It is also important to note that one slip up could damage your case.

If I plead guilty for what I am being accused, what punishments do I face?

You may be forced to pay a fine or restitution to victims whose lives have been affected. However, the severity of your punishment or penalty depends on the above-mentioned elements.

If severe enough, you may be facing a couple of months or years imprisoned.