All you wanted to know about banking frauds

Bankers feel inhibited talking about frauds for fear of loss of reputation. Large frauds usually come to light after 54 months

Many of us have seen different versions of a funny television ad promoting men’s deodorant brand Fogg. The settings of the ad vary from a grocery store to a hospital, café and even the India-Pakistan border but the conversation between two characters remains unchanged: “Kya chal raha hai?” (What’s new?) “Fogg chal raha hai” (Fogg is new). 

Change the ‘F’ word — Fogg to fraud. This has been playing out in Indian banking and finance for quite some time. In the first week of November, the Central Bureau of Investigation (CBI) carried out searches at close to 200 locations across 16