How an investigation usually begins
Banks have their own fraud and compliance teams, and an internal review can lead to an account freeze, a closure, or a demand for repayment well before any agency is involved. Banks also file confidential reports with federal authorities about activity they consider suspicious, and they are not allowed to tell you that a report was made. From there, a matter can be picked up by federal agents, such as the FBI or an inspector general's office, or by a district attorney's office in New York. Records about you can be obtained from banks through subpoenas, and you may not be told when that happens. An investigation may focus on you, on a business you work for, or on someone else whose transactions passed through your account.
What to avoid while it is open
The most damaging steps in a bank fraud investigation are usually taken by the person under scrutiny. Do not move money between accounts to get ahead of a freeze, open new accounts to work around a closure, or contact bank employees to explain things informally. Do not delete messages, discard files, or ask others to remember events a certain way. If an agent calls or visits, you can politely say you will have a lawyer get back to them. Lying knowingly to a federal agent is a separate crime, and even a sincere but incomplete explanation can create problems later. Keep your own records where they are, and let counsel decide what is shared and when.
Getting a read on your position
A lawyer can often find out more than you can. Contacting the agent or prosecutor may reveal whether you are viewed as a witness, a subject, or a target, and whether there is room to present information before a charging decision is made. Sometimes the right move is a careful written submission or a proffer under agreed terms; sometimes it is saying nothing for now. That depends on the documents and on what others may already have said. When we sit down with you, we work through the account history, any letters from the bank, and every contact you have had with investigators, and then decide whether and how to engage.
