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Bank-Fraud Statute

Bank-Fraud Statute

Definition

A federal statute, 18 U.S.C. § 1344, making it a crime to knowingly execute or attempt to execute a scheme to defraud a financial institution insured by the Federal Deposit Insurance Corporation (FDIC), or to obtain money or other property from an FDIC-insured financial institution, using false or fraudulent pretenses, representations, or promises.

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