Federal white-collar prosecution is built on a small set of statutes in Title 18 of the United States Code. Five provisions do most of the work: the mail-fraud statute (18 U.S.C. § 1341), the wire-fraud statute (§ 1343), the bank-fraud statute (§ 1344), the money-laundering statute (§ 1956), and the RICO provision (§ 1962). This guide quotes each in its operative language and places each in its enforcement context.
Mail Fraud: 18 U.S.C. § 1341
The mail-fraud statute criminalizes the use of the mails or a private interstate carrier to execute a scheme to defraud. Its opening clause states:
“Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises … for the purpose of executing such scheme or artifice or attempting so to do, places in any post office or authorized depository for mail matter, any matter or thing whatever to be sent or delivered by the Postal Service … shall be fined under this title or imprisoned not more than 20 years, or both.” — 18 U.S.C. § 1341
The statute reaches conduct carried out through private commercial interstate carriers as well as the Postal Service, and its penalty rises when the offense affects a financial institution or involves benefits tied to a presidentially declared major disaster or emergency.
Wire Fraud: 18 U.S.C. § 1343
The wire-fraud statute applies the same scheme-to-defraud concept to interstate wire, radio, or television transmissions:
“Whoever, having devised or intending to devise any scheme or artifice to defraud, or for obtaining money or property by means of false or fraudulent pretenses, representations, or promises, transmits or causes to be transmitted by means of wire, radio, or television communication in interstate or foreign commerce, any writings, signs, signals, pictures, or sounds for the purpose of executing such scheme or artifice, shall be fined under this title or imprisoned not more than 20 years, or both.” — 18 U.S.C. § 1343
Where the violation “affects a financial institution,” section 1343 raises the maximum to a $1,000,000 fine or 30 years of imprisonment, and section 3293 extends the limitations period to ten years.
Bank Fraud: 18 U.S.C. § 1344
The bank-fraud statute targets schemes directed at financial institutions:
“Whoever knowingly executes, or attempts to execute, a scheme or artifice— (1) to defraud a financial institution; or (2) to obtain any of the moneys, funds, credits, assets, securities, or other property owned by, or under the custody or control of, a financial institution, by means of false or fraudulent pretenses, representations, or promises; shall be fined not more than $1,000,000 or imprisoned not more than 30 years, or both.” — 18 U.S.C. § 1344
A dedicated research note on this statute — including its elements as applied in the courts — is published at Bank Fraud Under 18 U.S.C. § 1344.
Money Laundering: 18 U.S.C. § 1956
The principal money-laundering offense prohibits financial transactions involving the proceeds of specified unlawful activity when conducted with the intents the statute lists. The statute opens:
“Whoever, knowing that the property involved in a financial transaction represents the proceeds of some form of unlawful activity, conducts or attempts to conduct such a financial transaction which in fact involves the proceeds of specified unlawful activity— (A)(i) with the intent to promote the carrying on of specified unlawful activity; or (ii) with intent to engage in conduct constituting a violation of section 7201 or 7206 of the Internal Revenue Code of 1986 …” — 18 U.S.C. § 1956(a)(1)
The full subsection enumerates further prohibited intents, including concealing the nature or source of the proceeds and structuring to avoid reporting requirements.
RICO: 18 U.S.C. § 1962
The RICO statute prohibits conducting an enterprise’s affairs through a pattern of racketeering activity. Subsection (c) states:
“It shall be unlawful for any person employed by or associated with any enterprise engaged in, or the activities of which affect, interstate or foreign commerce, to conduct or participate, directly or indirectly, in the conduct of such enterprise’s affairs through a pattern of racketeering activity or collection of unlawful debt.” — 18 U.S.C. § 1962(c)
Subsection (d) makes it unlawful to conspire to violate subsections (a), (b), or (c). Racketeering activity is defined by cross-reference in 18 U.S.C. § 1961 and includes mail fraud, wire fraud, and offenses involving fraud in the sale of securities.
How the Circuits Apply the Fraud Statutes
Recent published decisions illustrate the statutes in operation. In August 2026 the Seventh Circuit affirmed the convictions of the founders of Outcome Health in United States v. Rishi Shah and United States v. Shradha Agarwal, a prosecution arising from a scheme to oversell advertising and inflate performance metrics to investors and lenders. The Eighth Circuit affirmed sentencing determinations in United States v. Latroy Currie, a conspiracy-to-commit-bank-fraud case involving stolen checks and fictitious businesses. Both decisions are linked in the Primary sources below, and the dispositions roundup and recent decisions pages track additional 2026 fraud appeals.
Enforcement Context: DOJ and SEC
Most federal fraud prosecutions are brought by the Department of Justice, often working from referrals by agencies including the SEC, the FDIC Office of Inspector General, and the IRS Criminal Investigation division. Securities-fraud investigations frequently proceed as parallel civil and criminal matters. Sentencing in fraud cases is governed by the United States Sentencing Guidelines, principally section 2B1.1 (larceny, embezzlement, and other forms of theft), published by the United States Sentencing Commission at ussc.gov. This page states the statutory framework; readers should verify current guidelines and agency policy against the official sources.