Frauds in Banking Sector and Legal Liability
Keywords:
Dishonest Intention, ForgeryAbstract
The constant prevalence of scams in the banks is not a newly observable phenomenon. Frauds in Indian banks simply indicate that financial flexibility increase tendency of shallow markets to embrace excessive speculation and impair development of the market in such manner that recovery looks tough. Revelations of fraud, indications of insider trading and a consequent collapse of investor interest have led to an almost in suppressible slide in Indian banks. The paper will also examine distinct sorts of fraud and corrective approaches. The study deals with various sort of preventative, detective mechanism necessary for fraud investigation.
References
Zubair Ahmed Khan, Assistant Professor, University School of law & Legal Studies, Guru Gobind Singh Indraprastha University, Dwarka, New Delhi.
Nitant P. Trilokekar, Audit in Computerized Environment, Reporting in JilaniGhosh Committee Recommendations, WIRC on Bank Audit, available at: http://tnkpsc.com/Image/JALANI%20GHOSH%20RECOMMENDATIONS.pdf
Nitant P. Trilokekar, Frauds relating to Computers, Audit in Computerized Environment, Reporting in JilaniGhosh Committee Recommendations, WIRC on Bank Audit,pg.7, available at: http://tnkpsc.com/Image/JALANI%20 GHOSH%20RECOMMENDATIONS.pdf
Section 463, Indian Penal Code,1860.
Section 45 , Indian Evidence Act, 1872
Section 47 , Indian Evidence Act,1872.
Cheating by Personation, Section 416 , Indian Penal Code,1860
Criminal Breach of Trust, Section 405 , Indian Penal Code,1860.
Falsification of Accounts, Section 477 A ,Indian Penal Code,1860.
