The enemy within: Financial firms must be vigilant about employee fidelity

The annual Kroll Fraud and Risk Report says that junior employees were the second most common perpetrators of frauds, just behind joint-venture partners

India is a corrupt country. Over the last fortnight or so, events have again borne out this unfortunate reality. The Rs 114 billion Punjab National Bank-Nirav Modi fraud is symptomatic of a culture of weak systems and lax oversight made worse by a lack of moral compass among a majority of our politicians, businessmen and workers in 

public and private sectors. 

Global corruption watchdog Transparency International or TI places India at rank 81 (the lower the rank, the less corrupt a country) amongst 180 countries it ranked for 2017, two notches below 79 in 2016. TI released its 2017 ranking globally on