Forensic Advisory Services

Protecting your business in the Banking sector

Banks are facing an increasingly difficult scenario with increased fraud incidents and low recoveries compounded by a tidal wave of compliance regulations in India and abroad, thereby directly affecting their bottom-line and increased cost of compliance. This calls for setting up a foolproof Fraud Risk Management (FRM) system.

Know more about our specialised services

In the wake of increasing incidents of frauds in the financial service sector, the Reserve Bank of India (RBI) introduced guidelines vide circulars for a comprehensive Fraud Risk Management (FRM) system for banks pertaining to fraud prevention and the management’s function in the organisation to prevent fraud. Stated explicitly within these guidelines is the need for controls related to the prevention, detection and deterrence of fraud and the roles and responsibilities of the senior management in fraud prevention and management function.

The challenge for banks is to develop comprehensive fraud risk management controls that will not only prevent frauds, but also detect them as soon as they occur and respond to them.

Our team has the experience and tools to assist you in the design, implementation, and assessment of antifraud programs and controls. Specifically, we can work with you on:

  • Fraud awareness trainings
  • Anti-Fraud Programs and Controls
  • Fraud Risk Assessments (FRA)
  • Current state assessments
  • Fraud response management