CBFA – Certified Bank Forensic Accounting

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CA Mayur Joshi
CA Mayur Joshihttp://www.mayurjoshi.com
CA Mayur Joshi is a Forensic Accounting evangelist in India. He is the co-founder of Indiaforensic and is author of 7 books on forensic accounting, fraud investigations and money laundering.

Certified Bank Forensic Accountant is one of the oldest professional courses offered by the Indiaforensic Center of Studies. Additionally, it helps the bankers and particularly the auditors to understand the changing dynamics of the banking world. Regulators’ responses have been changing with the growing non-performing assets. Fraud investigation is one of the primary focus areas of this course.

How Bank Frauds are done?

From siphoning of funds to cyber frauds, bank frauds encompass a wide range of fraudulent schemes. SIM Cloning and phishing are some of the popular methods of fraud perpetration. but the banks are impacted the most by the frauds by the borrowers. When a loan is not repaid it leaves behind an impact on the financial statements of the bank. In fact, certain frauds have become more prevalent than others, and being aware of them is the first step towards protecting yourself.

What is CBFA?

CBFA stands for Certified Bank Forensic Accountant, which is a dedicated course on banking fraud. The bank fraud manual initially acted as the classification of banking frauds. However, as the regulators started responding, they issued material related to the classification of traditional frauds. The course evolved with time, from self-paced distance learning it has now become classroom training. Nikhil Parulkar, CBFA is the instructor for this program.

His session addresses some of the frequently asked questions like ‘How long does a bank fraud investigation take?’, ‘How do we classify the bank frauds in India?’, ‘What is the bank fraud investigation process?’ etc.

CBFA Certification helps professionals to distinguish themselves from the crowd and it also adds knowledge and value to the professional who is studying the subject of banking fraud examination, detection, and investigation. In reality, there are few certifications that offer a good curriculum.

Why frauds are increasing in banks?

Increased political interference, flawed lending policies, and an inefficient fraud monitoring mechanism are among the factors that have frequently led to instances of fraud and a rise in non-performing assets.

Banking fraud is a technical subject. The nature of fraud challenges differs according to the local regulations. But the raw material of the bank remains the same everywhere and it needs protection from fraudsters and other notorious elements in society. Every country faces different financial crime challenges.

Financial Terms used in every country may also differ. In such a scenario the professional gains insights when he studies the local laws.

Certified Bank Forensic Accountant Program is one of the most popular programs in India. Moreover, Indian bankers, fraud risk professionals, and auditors find this course useful in performing their daily duties. This program emphasizes the local laws and the local terminologies. In addition, it provides guidance on financial crime risks in emerging technologies like digital currencies, mobile payments, etc.

Fees for CBFA

The fee for this course is Rs. 25000, which includes the fees for the syllabus, study material, video learning material, classroom instruction fees, examination fees, and certification fees. This is an all-inclusive fee for the course.

Batches for the Course

The batches for this program are weekend batches. Weekend batches help the working professionals to join this program. We use Google Meets to conduct this course. Students ask about practical problems in these sessions.

In addition to this program, we also offer a specialised training program on investigative report writing. This course is available in a corporate training format where at least 10 participants enroll for the course.

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