BANKING FRAUDS AND WAYS TO PREVENT THEM

Financial institutions face an ever-increasing range of challenges within the financial crime arena, both internal and external. Rapid technological and social changes combined with evolving consumer demands are creating numerous new opportunities for the perpetrators of fraud. Consumers want products that are quicker, faster and easier to use, delivered through the platforms of their own choosing. This paper discusses the various frauds that are in existence in the modern or the e-age banking system & the ways to overcome these frauds or be alert to avoid these frauds.