CBI says, over 2,000 crore rupees were lost by the country’s banking sector in frauds during 2009-10. Addressing the ‘Third Conference of Central Vigilance Officers of 31 Public Sector Banks and Financial Institutions’ in New Delhi, CBI Director A P Singh said, these include over 200 frauds of above one crore rupees each.
He warned the banks of latest trends emerging in banking frauds in areas like electronic payments, technology-related payments like RTGS, credit cards, ATM, cell banking, internet banking among others. Mr. Singh called upon banks to adapt to changing technology and to sensitise its officers to new areas of fraud being used by scamsters. He said, CBI’s role is to investigate the criminality in bank frauds and it does not interfere in cases of prudent commercial judgement, even if such decisions involve risks or have resulted in losses to banks.
