I'm assuming you mean following regular charge off procedures meaning sending a letter at 30 days overdrawn, sending a letter at 45 days over drawn, sending a final demand letter, then sending a closing letter?
In my experience, if you know for certain this is fraud and there is going to be no attempt to make the account whole (especially in the case of a new account), you can skip to the final demand letter, then close the account after the term (7 days, 10 days).