Identifying the Measures for Fraud Detection Specifically Loan & Advance Related Fraud in the Banking Sector of India
Addressing Fraud Detection and Prevention in the Indian Banking Sector
by Neelam Devi Bansal*,
- Published in Journal of Advances and Scholarly Researches in Allied Education, E-ISSN: 2230-7540
Volume 16, Issue No. 5, Apr 2019, Pages 831 - 834 (4)
Published by: Ignited Minds Journals
ABSTRACT
The Indian banking industry has experienced a lot of growth as well as changes since the liberalisation of the economy in 1991. Although the banking industry is usually well regulated as well as supervised, the sector suffers from the own set of it is issues with regards to ethical methods, business governance, and financial distress. The loan, as well as advance connected frauds, indicate that there's huge increase in the previous seasons. As being a developing country, this increase in the amount, as well as amount active in the advance connected frauds, is actually one of biggest threats to the economy of India. The detection, as well as avoidance of the sorts of frauds, are actually the main concern for the banks because these frauds are actually recognized typically right after quite a while of the occurrence. This particular analysis endeavours to cover problems like mounting credit and banking fraud card debt. The analysis finally proposes several suggestions to minimize future occurrence of frauds in the Indian banking sector.
KEYWORD
fraud detection, loan and advance fraud, banking sector, India, ethical practices, business governance, financial distress, developing country, economy, credit and banking fraud
