by AIP Online Bureau | Feb 17, 2023 | Data, Risk Management, Technology
New fraud trends, such as data theft, and traditional frauds, such as collusion between third parties and mis-selling of insurance products, continue to prevail and are still a concern for the sector, the survey noted. About 60 per cent of Indian private insurers...
by AIP Online Bureau | May 15, 2022 | Banking & Bancassurance, Indian News, Regulation
According to the RBI data on frauds reported by PSBs in all categories during FY22, the highest amount of Rs 9,528.95 crore was reported by the city-based Punjab National Bank (PNB), involving 431 such incidents The country’s largest lender State Bank of India...
by AIP Online Bureau | Feb 8, 2022 | Banking & Bancassurance, Eco/Invest/Demography, Indian News
Minister of State for Finance Bhagwat Karad The government had in Budget 2021-22 announced its intent to privatise two public sector banks (PSBs) and one of the public sector general insurance companies during the year. ”As per inputs received from Department of...
by AIP Online Bureau | Jan 17, 2022 | Eco/Invest/Demography, Facts, Risk Management
Key reasons identified for the increase in fraud incidents over the next two years include large-scale remote working models, increase in customers using non-branch banking channels and the limited/ineffective use of forensic analytics tools to identify potential red...
by AIP Online Bureau | Dec 30, 2021 | Eco/Invest/Demography, Indian News
”Private cryptocurrencies pose immediate risks to customer protection and anti-money laundering (AML)/combating the financing of terrorism (CFT). They are also prone to frauds and to extreme price volatility, given their highly speculative nature,” RBI...
