Challenge of Mitigating Bank Frauds by Judicious Mix of Technology: Experience of a Developing Country

• Autorzy: Madan Lal Bhasin
• Języki publikacji: EN

Abstrakty

EN

Banks are the engines that drive the operations in the financial sector, money markets and growth of an economy. With the rapidly growing banking industry in India, frauds in banks are also increasing fast, and fraudsters have started using innovative methods. A questionnaire-based survey was conducted in 2013-14 among 345 bank employees to know their perception towards bank frauds, degree of their compliance level, and integration of technology to detect, control and prevent frauds. This study provides discussion of the attitudes, strategies, and the technology that bank specialists will need to combat frauds. Banks that can leverage advances in technology and analytics to improve fraud prevention will reduce their fraud losses. In 2015, the RBI introduced new mechanisms for banks to check loan frauds by taking pro-active steps by setting up a Central Fraud Registry, introduced the concept of Red Flagged Account, and Indian investigative agencies will soon start sharing their databases with banks.(original abstract)

Słowa kluczowe

EN

Risk management; Banking risk; Financial fraud; High-tech; Economic development

PL

Zarządzanie ryzykiem; Ryzyko bankowe; Oszustwa finansowe; Nowe technologie; Rozwój gospodarczy

• Czasopismo: Economics, Management and Sustainability
• Rocznik: 2016
• Tom: 1
• Numer: nr 1
• Strony: 23--41

Twórcy

autor

Madan Lal Bhasin

• Universiti Utara Malaysia, Malaysia

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Identyfikatory

DOI

10.14254/jems.2017.1-1.3.