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Banking Frauds

Banks are the backbone of Indian economy. Cash is the raw material in banking business, hence this sector is most susceptible to frauds. Banking frauds have evolved in India. From technology frauds to traditional loan mortgage frauds, banking sector in India witnessed different types of scams.

It is defined as an unethical or criminal act by an individual or organization to illegally attempt to possess a property or receive money from a bank. From a simple cheque fraud to credit card skimming, it has a wide range.

Also, this means use of potentially illegal ways to obtain money, assets or any other properties owned by a financial institution. This also means method to obtain money from
depositors by posing as a Bank or financial institution.

Certified Bank Forensic Accountant is one of the oldest certification program which deals with the banking frauds. This program is based on real life fraud cases. This course commenced in 2006. Today, there are more than thousand members.

Additionally, a separate section for bank fraud articles helps the readers to gain insights into changing trends. Fraudsters are evolving with the technology and it has become very important to study them.