Banking Frauds and Hacks

Bank fraud is the criminal act of breaching the security measures of a financial institution to steal funds or obtain delicate client information illegally. The term can also refer to posing as a bank in order to trick depositors into providing personal details and access to bank accounts. Bank frauds are often characterized as “victimless crimes.” That’s certainly not the case; they inconvenience huge numbers of people, sometimes causing a substantial loss of both money and jobs.

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