India Banking Fraud Survey, Edition IV

Dealing with risks associated with fraud is on no bank’s wish list, but it is a fact – frauds are on the rise and will continue to rise, especially within the current business environment. While there is no doubt that banks are making investments to enhance their fraud risk management framework, monitoring systems and controls, however it appears that these efforts have not been sufficient.

Financial crime across the globe is expected to rise in response to the uncertainty in the business landscape. For banks, the economic slowdown has only heightened the risk of fraud and money laundering. Banking sector regulators have been at the forefront of fraud mitigation strategies, prescribing frameworks that banks need to adopt to have a better view on fraud risks.

With this backdrop, the fourth edition of the Deloitte India Banking Fraud Survey attempts to understand banks’ mechanism to tackle fraud risks, impact of new operational models on fraud risk management, and perspectives on making strategic investments for the future.



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