Banking Frauds in India: A look at Data and its revelations
Frauds have been Bank’s Achilles heel for time immemorial. FY20 saw a astonishing 160% rise in the reported frauds over previous year. This is despite the increased regulatory oversight, use of technology and increasing digitisation of data. But seems the fraudsters move one step ahead of the system. But there are some twists in the tale. In this storyboard we looked at the reported data for Indian Banks, deep dived and found some interesting observations.