CVC seeks data on fraud from banks
Anti-corruption watchdog CVC has sought details of all fraud reported to the CBI since 2001 by public sector banks to analyse the modus operandi followed by fraudsters, Vigilance Commissioner T M Bhasin today said.
The exercise is part of a first-of-its-kind initiative being undertaken by the Central Vigilance Commission aimed at bringing in systematic improvements in the banking system to prevent fraud.
"Now what we have done is that we got the information collected from the Reserve Bank of India (RBI) on cases of fraud. They have submitted to us the information with regard to top 111 accounts," he said.
Bhasin, former chairman and managing director of Indian Bank, said the Commission has also asked all banks to provide information of all the cases of fraud involving Rs 3 crore and more.
"Right since 2001, whatever fraud has been reported to the CBI, Rs 3 crore and above, all those information is being collected. We have talked to chief vigilance officers of the public sector banks. They have been asked to submit the data by November 15," he told
(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)
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