Thursday, 13 April, 2023

MoS Finance Bhagwat Karad says bank fraud cases have fallen by about 50% in FY'22

<p>In FY&#39;22, there were 2,369 cases of fraud against public sector banks, compared to 4,680 cases during the previous fiscal year. The sum involved in the frauds also decreased, from Rs 7,306 Cr&nbsp;in 2020&ndash;21 to Rs 3,204 Cr. In-depth measures have been made to combat banking fraud. This training raises awareness of data safety and privacy in big data situations. Public sector banks (PSBs) have been urged to strictly enforce the rotation of officers and staff.</p>