Fraudulent wire transfers occurs whenever an individual uses electronic means in order to perpetrate a deceptive criminal act. It can involve a number of different crimes, and a few of the most common ones include:
- Obtaining payment for goods without delivering them
- Phishing or hacking scams designed to elicit personal information
- Mortgage fraud
- Banking fraud
- Credit card fraud
Most of the time, this crime is conducted across state lines, which in turn makes it a felony offense. The same act can also result in mail fraud charges if an act was carried out by using the U.S. Postal Service in addition to electronic forms of communication.
How Interstate Wire Fraud is Punished
In most cases, wire transfer fraud is punishable by fines, restitution and up to 20 years in federal prison. When a crime is committed against a financial institution, the amount of prison time increases to up to 30 years, and there can be a fine of as much as $1 million as well.
Those who are sentenced to federal penitentiaries will have to serve their entire sentence, as there is no parole system offered by the U.S. government.
Request Help From a Houston Federal Wire transfer Fraud Attorney
James Alston is a Houston lawyer who is experienced at handling all types of federal criminal offenses, to include interstate fraudulent wire transfer. Board-certified in criminal law from the Texas Board of Legal Specialization, he fights hard for his clients in order to help them assert their innocence.