In the last decade or so banking frauds and financial scams has become a regular affair in the Indian Financial System. Occasions of asset misappropriation, money laundering, cyber-crime, accounting frauds, bank advances without collateral, Loan losses etc. are increasing continuously. They not only indicate the loopholes in the financial system but also show the level of human greed. At some point of time common people become the target of the suspicious fraudulent activities. Banking frauds accounted for approx. Rs.25,775 cr loss to Public Sector Banks (PSBs) in 2017-18.

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