Crimes of Persuasion: Schemes, scams, frauds. 65 million taken in bank robberies annually. Check Kiting Cheque kiting is when in-transit or non-existent cash is recorded in more than one bank account. The crime usually occurs when a cheque kiting investopedia forex pays on an unfunded deposit.
For example, a bum check is deposited into an account. Before the cash is collected by the bank, a check is written against the same account and deposited into a second account, or cashed. The increased use of wire transfers allows this type of scheme to be perpetrated very quickly. Uninsured Deposits At least two companies solicit uninsured deposits on the Internet. West Indies company seeking deposits for an unidentified bank. They lure depositors by offering high rates of interest, or promising offshore secrecy.
Neither company is authorized, supervised, or regulated by any U. State or Federal bank or financial institutions regulator. Deposits in these companies do not have the protection of the Federal Deposit Insurance Corporation or any other state or federal deposit insurance. Credit Card Theft and Fraud One con, while in jail serving a state prison term for credit-card theft, actually perpetrated yet another credit card scam over a seven month period, using a technique that allowed him to hide the fact that he was calling from jail. He would start off by calling the county-run nursing home saying he was a Bell Atlantic technician and that he needed the person to dial a special code to test the lines.