IBA suggests FinMin for training sessions of bankers to handle fraud

Quick Summary:

The number of frauds in the banking sector increased over four times in the past five years to 36,075.

The number of frauds have predominantly been witnessed through digital payments (card or internet), rising from 2,677 in FY20 to 29,082 in FY24.

The finance ministry further highlighted that frauds perpetrated by PSB staff have increased in recent months.

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Article Details

Category: BusinessFinance

Markets: India

Topics: Indian Banking Association Central Bureau of Investigation Finance ministry Public sector banks Fraud

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-12-17 @ 23:30:44 (7 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 581 words

Reading Time: 4 minutes read

Sentences: 24 lines

Sentence Length: 25 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 24515097

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Official Website: business-standard.com

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