Is Bank Fraud a Felony or Misdemeanor in Illinois? Bank fraud is an unlawful attempt to gain money, assets, or other property that is owned by a financial institution. It can be charged as either a state crime or federal crime. At, The Law Offices of Vadim A. Glozman, their Chicago white-collar crime defense attorneys have the professional skills and legal expertise to handle the full spectrum of bank fraud charges. in Lawyerwith bank-fraud-attorneys