Talk:Bank fraud

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[edit] 'Bill Discounting Fraud'

This is a fraud taking place in Banking sector. Company A will open a current account with Bank. Then it will start sending original bills, transportation documents such Lorry receipt, Order from customer( also an accomplice??) through the bank on collection basis. Banker, as usual, will send the documents to customer's bank requesting for payment. On due date the payment will be made promptly. This process will continue for 10 or 15 times till company A get the confidence of his banker.

Then it will request the bank to negotiate the bill instead of sending it ob collectin basis. Even in this case payment will be effected by so called customer. after some weeks a bill with more value will be given for negotiation. Bankers who got confidence and also used to negotiate, will pay the sum (crediting the c/a) and send the documents as usual.

Customer will take the cash and run away and the banker will come to know only after a long time. Usually in this case both company A and customer will be same party and the bills will be drawn for 45 days

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[edit] Cleanup

The cleanup header has apparently been on this page for a long time. The geo/worldwide tag has also been on the page for a while. I've started trying to make sense of this by splitting the article into two sections: 1) Banking laws (which are specific to each country/jurisdiction), 2) Mechanics of banking fraud.

This article still needs a lot more work. There should be more expansion on the U.S. law provisions, as well as those for other jurisdictions. In particular, U.K. and Swiss laws strike me as important [may well be others].

The mechanics could also use more cleanup. Right now it's a list of various types of fraud. I pass no judgment right now on whether or not this organization is appropriate--I only ask if it could be condensed. I look forward to contributions from others.LH (talk) 16:13, 6 March 2008 (UTC)