Bank and mortgage fraud is any type of misrepresentation of information or facts that has to do with the banking or mortgage industry in some way. Fraud is a term used to describe an action in which a person withholds or makes false statements or commits other crimes, when they know that the actions they are taking are in fact false. The goal may be to steal or otherwise damage a person or property in some way. In the case of financial fraud, an individual may be misrepresenting himself or herself in order to obtain loans, credit cards, mortgages or other types of financial benefits. Financial fraud, including bank and mortgage fraud, may be minor or may be significant, depending on the value of the theft.