Fraud Accountability Act

Deportation for Fraud Convictions: The bill makes any alien who is convicted of a crime involving fraud deportable, even if the fraud amount is below the usual threshold used for aggravated felonies, provided it was committed against a private individual, fund, corporation, or government entity (Section 2).

Mandatory Detention: The bill updates the Immigration and Nationality Act to include these new fraud provisions in the categories of individuals subject to mandatory detention (Section 3).

Denaturalization for Naturalized Citizens: The bill gives courts the power to revoke, set aside, and void the citizenship of a naturalized person convicted of certain criminal offenses, as well as cancel their certificate of naturalization (Section 4).

Revocation of Citizenship: Naturalized United States citizens convicted of criminal offenses described in section 237(a)(2) would have their citizenship revoked and their certificates of naturalization canceled by the court that enters the conviction (Section 4).

Retroactive Applicability of Denaturalization: The rules regarding the revocation of citizenship apply to fraud committed on or after September 30, 1996, against a private individual, fund, corporation, or government entity, if the person was not arrested, charged, or indicted before the Act's enactment date (Section 5).