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Made By: AKSHAY VIRKAR
Topic
Frauds
&
Scams in Banks
Made By : AKSHAY VIRKAR
Content
Introduction
• The progress of business is depends on
expansion & diversification
• The indicators of growing economy are
...
• Nowadays frauds, scams, corruption etc. has
entered in every sector
• Fraudulent practices are like slow poisoning
which...
Definition
• According to Collins English dictionary fraud
can be defined as,
“Deceit, trickery, sharp practices or breach...
Bank Fraud
• Bank fraud means obtaining money or property held
by bank or customer of the bank in order to make
more money...
3 Categories Of Frauds
Classified By Ghosh Committee
source:http://www.rbi.org.in
Statistics on bank frauds in India
Source:http://www.riskpro.co.in
Frauds Done by Insiders
Frauds Done by Outsiders
RBI Guidelines
• Supervisory strategy
banking supervision, focuses on 2 other areas:
1) Strengthening of the internal cont...
Conclusion
Bank frauds are done to make money by
cheating the banks. There are several
loopholes in banking system that ha...
Frauds & Scams in Banks
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Frauds & Scams in Banks

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Frauds & Scams in Banks

  1. 1. Made By: AKSHAY VIRKAR
  2. 2. Topic Frauds & Scams in Banks Made By : AKSHAY VIRKAR
  3. 3. Content
  4. 4. Introduction • The progress of business is depends on expansion & diversification • The indicators of growing economy are acceleration in per capita income, standard of living, national wealth, national incomes etc. • In the growing economy some unethical practices has been observed
  5. 5. • Nowadays frauds, scams, corruption etc. has entered in every sector • Fraudulent practices are like slow poisoning which destroy the system of faith, loyalty, and reliability confidence of the people and help to proceed towards underdeveloped society
  6. 6. Definition • According to Collins English dictionary fraud can be defined as, “Deceit, trickery, sharp practices or breach of confidence, perpetrated for profit or gain some unfair or dishonest advantages.”
  7. 7. Bank Fraud • Bank fraud means obtaining money or property held by bank or customer of the bank in order to make more money • The reason of making fraud is to cheat the bank for financial purpose • Two major factors are responsible for increasing bank frauds: Complexity of bank transactions Failure in observance or procedures and norms laid down in branch operations
  8. 8. 3 Categories Of Frauds Classified By Ghosh Committee
  9. 9. source:http://www.rbi.org.in
  10. 10. Statistics on bank frauds in India Source:http://www.riskpro.co.in
  11. 11. Frauds Done by Insiders
  12. 12. Frauds Done by Outsiders
  13. 13. RBI Guidelines • Supervisory strategy banking supervision, focuses on 2 other areas: 1) Strengthening of the internal control systems in banks 2) Increased use of external auditors in banking supervision
  14. 14. Conclusion Bank frauds are done to make money by cheating the banks. There are several loopholes in banking system that has been used by fraudster. The numbers of bank frauds has been increasing year on year along with that, RBI also engage in making the banking system accurate and secured.

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