Page 8 - Bank Frauds
At 18%, Indian customers biggest victims of banking fraud: FIS study
One of every four people in the 27-37-year age group, the most prolific in using digital banking apps, reported a fraud in the past year
 "At 18%, Indian customers biggest victims of banking fraud: FIS study")
Over 23,000 bank fraud cases involving Rs 1 trillion in 5 years: RBI
A total of 5,152 cases of fraud, up from over 5,000 cases in 2016-17, were reported in banks from April 2017 to March 1, 2018
 "Over 23,000 bank fraud cases involving Rs 1 trillion in 5 years: RBI")
Finance Secretary Hasmukh Adhia calls meeting amid high-profile bank frauds
Sources said the finance ministry was upset with the probe agencies' approach and handling of tip-offs
 "Finance Secretary Hasmukh Adhia calls meeting amid high-profile bank frauds")
CVC seeks details of frauds from banks to devise preventive mechanism
CVC said the exercise to collect and analyse data is to find out what kind of frauds are happening in the banks
 "CVC seeks details of frauds from banks to devise preventive mechanism")
Boldly but carefully
Important to ensure proportionality in bank fraud probes
Another bank fraud? Borrowers misuse SBI loan of Rs 32 mn to produce a film
The production house is represented by Kabaddi player Raja and he is among the 13 borrowers
 "Another bank fraud? Borrowers misuse SBI loan of Rs 32 mn to produce a film")
Bad news for Gitanjali, PNB, OBC: Few scam-related stocks regain lost glory
From the so-called Ketan Parekh (K-10) stocks to Unitech and DB Realty, scam-tainted stocks have fallen by 90 per cent or more from their all-time highs
 "Bad news for Gitanjali, PNB, OBC: Few scam-related stocks regain lost glory")
PNB fallout: Jaitley talks of tougher law to bring scamsters to justice
He also said that the Indian industry now needs to seriously introspect about its responsibility to be ethical while doing business
 "PNB fallout: Jaitley talks of tougher law to bring scamsters to justice")
Banks lost nearly Rs 17,000 cr to frauds last financial year, says FinMin
An inter-disciplinary standing committee on cybersecurity has been constituted by the RBI
 "Banks lost nearly Rs 17,000 cr to frauds last financial year, says FinMin")
CVC examines CBI probe in top bank frauds, including Vijay Mallya's
CVC Commisioner says bankers need have no fear if their decisions are bonafide
 "CVC examines CBI probe in top bank frauds, including Vijay Mallya's")
ICICI Bank, SBI, StanChart top bank frauds list: RBI
While ICICI had largest number of cases at 455, in value terms SBI topped with Rs 2,237 cr
 "ICICI Bank, SBI, StanChart top bank frauds list: RBI")
State Commission asks SBI to compensate fraud victim
SBI was asked to pay Rs 26,000 after it failed to produce a video footage of the complainant making the transaction
 "State Commission asks SBI to compensate fraud victim")
Bank frauds: Limited liability for customers?
If RBI's recommendations are finalised, it will give more teeth to the existing fair practice code
 "Bank frauds: Limited liability for customers?")
