FINANCIAL CRIMES UNIT


FRAUD AGAINST A FINANCIAL INSTITUTION: FREQUENTLY ASKED QUESTIONS


Q. What is fraud against a financial institution?
A.
Whoever obtains money, funds, credits, assets, securities, or other property owned by or under the custody or control or control of a financial institution without authorization from the financial institution and with intent to convert it to his or her own use or to the use of any person other than the owner of financial institution. Wisconsin State Statute 943.81


Q. Give me an example of fraud against a financial institution?
A.
For example someone deposits a check into a bank ATM then withdraws the funds knowing that their checking account is closed, this is fraud against a financial institution.