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Unformatted text preview: • Banking Crimes (18 U.S.C. §§ 215 , 656 & 657 , 1005 & 1006 , 1014 , 1344 ) Federal banking laws create criminal penalties for fraudulent acts by bank officials and customers alike. It is illegal for a bank official to embezzle or misapply bank funds. It is a crime to make false statements as part of an effort to acquire a loan or other extension of credit. It is a crime for a financial institution to make a false entry into bank records. It is a criminal offense to commit fraud against a federally insured financial institution. • Bank Secrecy Act ( 31 U.S.C. § 5311 et seq. ) In order to better control white-collar and other types of organized crime, this act requires that financial institutions report large cash financial transactions. It is a crime to willfully fail to report the transaction or to attempt to cause an institution to not report a transaction. • Bribery ( 18 U.S.C. § 201 et seq. ) Bribery involves offering, promising, or giving something of value corruptly to a federal public...
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This note was uploaded on 10/16/2010 for the course SOC 149 taught by Professor Parker during the Spring '10 term at UC Riverside.
- Spring '10