Encyclopedia of Security and Emergency Management

Living Edition
| Editors: Lauren R. Shapiro, Marie-Helen Maras

Investigations: Bank Fraud

  • Sonny Smith
Living reference work entry
DOI: https://doi.org/10.1007/978-3-319-69891-5_52-1
Fraud, as an all-encompassing term, is a problem that has negatively affected institutions across the world to the tune of approximately $3.5 trillion per year, with $16.8 billion in US losses (Pascual et al. 2018). In 2014, McAfee and the Center for Strategic and International Studies found the losses from cybercrime alone to be between $375 and $575 billion per year (Insurance Information Institute 2018). Schemes such as identity fraud, credit card fraud, skimming, wire fraud, check tampering, and financial statement fraud have been some of the more common and lucrative methods employed in these schemes. These fraud schemes impact multiple sectors of society, such as government and public service organizations, individuals, financial institutions, online retailers, and traditional brick and mortar merchants.

“Data! Data! Data!” he cried impatiently. “I can’t make bricks without clay.”

Sherlock Holmes

–The Adventure of the Abbey Grange

Introduction

Just as Sherlock Holmes implored...

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References

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Future Reading

  1. Almandoz, J. (2017). Robert S. Pasley: Anatomy of a banking scandal: The keystone bank failure – Harbinger of the 2008 financial crisis.Google Scholar
  2. Biskupic, S. M. (1998). Fine tuning the bank fraud statute: A prosecutor’s perspective. Marq L Rev, 82, 381.Google Scholar
  3. Dagogo, D. W. (2018). Bank fraud and financial intermediation.Google Scholar
  4. Gottschalk, P. (2018). Characteristics of white-collar crime. In Investigating white-collar crime (pp. 1–12). Cham: SpringerGoogle Scholar
  5. Hoffmann, A. O., & Birnbrich, C. (2012). The impact of fraud prevention on bank-customer relationships: An empirical investigation in retail banking. The International Journal of Bank Marketing, 30(5), 390–407.CrossRefGoogle Scholar
  6. Hughes, G., Comber, J., & Austin, E. (2018). Insider dealer or unknowing participant: HK court of appeal confirms SFC’s broad powers to pursue insider dealing and fraud offences. Journal of Investment Compliance, 19, 38–41.CrossRefGoogle Scholar
  7. Oa, F. J., & Titiloye, E. O. (2012). Application of continued fractions in controlling bank fraud. International Journal of Business and Social Science, 3(9), 210–213.Google Scholar
  8. Smith-Ditizio, A. A., & Smith, A. D. (2018). Computer fraud challenges and its legal implications. In Encyclopedia of information science and technology (4th ed., pp. 4837–4848). IGI Global.Google Scholar

Copyright information

© Springer Nature Switzerland AG 2018

Authors and Affiliations

  1. 1.Texas A&M UniversityCollege StationUSA