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Classification 29: Bank Fraud and Embezzlement

This classification was established in 1924 to cover investigations into frauds perpetrated against financial institutions protected by Federal statutes. Although the basic definition of fraud has changed little over time, the number and type of financial institutions over which the FBI has investigative jurisdiction has increased considerably; in 1941 it was 13,500, by 1978 it was 73,000. The jurisdiction in 1941 included Federal Reserve banks, state banks that were members of the Federal Reserve System, state banks insured by the Federal Deposit Insurance Corporation (FDIC), all banks in the District of Columbia, Federal credit unions, and Federal savings and loans. Legislation passed in 1956 broadened jurisdiction to include all savings and loans insured by the FDIC.

Types of violations investigated under this classification include embezzlement, bribing a bank official, kickback schemes, abstraction, willful misapplication of funds, false entries, giving false statements to influence the action of financial institutions (as in loan applications), false certification of a check, and participation of a financial institution in gambling or a lottery. In practice the FBI initiates most investigations in this classification when cashiers or tellers are unable to balance the money in their cash drawers. Even when embezzlement is proven, few such cases are ever prosecuted because of the low dollar amounts involved.

NARA holdings for Classification 29: Bank Fraud and Embezzlement

The following records under Classification 29: Bank Fraud and Embezzlement are not yet described in NARA's online catalog. Please contact NARA's Special Access Program at specialaccess_FOIA@nara.gov with your reference request.

Record GroupFinding Aid EntrySeries Title
65UD 10D 33Classification 29 (Bank Fraud and Embezzlement) Headquarters Case Files

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