(1) If a person knowingly submits a false statement to an officer of a bank in accordance with this Act with the intention of asserting a right in a bond that is not his or anyone else's, he shall be fined up to the amount of principal and interest specified in the bond or imprisoned for six months or both. Punishment may be imposed.

(2) The bank shall appoint an officer to conduct the necessary investigation in relation to the offense punishable under sub-section (1) and he shall conduct the necessary investigation and file a case in the district court on behalf of the bank.