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Bank fraud is the use of potentially illegal means to obtain money, assets, ... Demand draft (DD) fraud typically involves one or more corrupt bank employees. Firstly ...
Wells Fargo's sales culture and cross-selling strategy, and their impact on customers, were documented by the Wall Street Journal as early as 2011. [5] In 2013, a Los Angeles Times investigation revealed intense pressure on bank managers and individual bankers to produce sales against extremely aggressive and even mathematically impossible [7] quotas. [8]
The Punjab National Bank Fraud Case relates to fraudulent letter of undertaking worth ₹12,000 crore (US$1.4 billion) issued by the Punjab National Bank at its Brady House branch in Fort, Mumbai; making Punjab National Bank liable for the amount. [1] The fraud was allegedly organized by jeweller and designer Nirav Modi.
Types of fraud are diverse, but some stand out as particularly prevalent. Investment scams topped the list, accounting for $4.6 billion in losses, followed by imposter scams at $2.7 billion.
In response to reports of fraudulent activity, a USAA spokesperson told News 4 San Antonio “bank fraud is an unfortunate reality for financial institutions around the world,” and “USAA ...
Three of Hernandez’s co-conspirators in the TD Bank fraud case have also been prosecuted by the U.S. Attorney’s Office: Armando Ariel De Leon, a former TD Bank employee in Miami-Dade, admitted ...
Its officers were sophisticated international bankers whose apparent objective was to keep their affairs secret, to commit fraud on a massive scale, and to avoid detection". [8] The liquidators, Deloitte & Touche, filed a lawsuit against the bank's auditors, Price Waterhouse and Ernst & Young, which was settled for $175 million in 1998. By 2013 ...
The duo was pelted with criminal charges related to wire and securities fraud, conspiracy, conspiracy to commit bank fraud, making false statements, multiple counts of aggravated identity theft ...