how many federal reserve branches are there? how does frank use this to his advantage?
how did frank get money without depositing checks into a bank account?
At first, he got money by cashing fake employment checks, which he didn’t need a bank account to do. Then, he created fake bank accounts with misleading routing numbers. So, a bank clerk would look at his checks and they would appear to be from a legit existing bank account. The clerk would cash his check, the check would go across the country to the branch Frank supposedly has an account with, and then that bank would say that account doesn’t exist. I’m not sure how many bank branches there were, but he chose banks that had branches all over the country. Frank was very smart for a teenager!
there are 25 federal reserve branches I think. not sure if that’s changed since abagnale’s time. he would use the routing number for one federal reserve branch but the address from another. so the check would bounce between the two branches.
one way he did it was cashing airline checks which banks would cash even if you didn’t have a bank account.