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Monday, March 13, 2017

ICICI Bank, SBI, StanChart top bank frauds list

topped the list of that witnessed most number of frauds during April-December period of 2016 with state-owned taking the second spot, data said.

During the first nine months of the current fiscal, as many as 455 fraud cases involving Rs 1 lakh and above were detected in ICICI Bank, closely followed by (429), Standard Chartered (244) and (237).


The other which reported large number of frauds to the apex bank during the period include (189), (176) and Citibank (150).

However, in value terms, frauds involving Rs 2,236.81 crore were reported in SBI, followed by (Rs 2,250.34 crore) and (Rs 1,998.49 crore).

The data provided by to the Ministry also revealed the involvement of bank staffs in fraud cases.

In the case of SBI, 64 employees were involved in fraud cases, while it was 49 for and 35 for 

In all, 450 employees were involved in fraud cases in different public and private sector during April-December 2016, in 3,870 cases involving a total value of Rs 17,750.27 crore.

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