NCJ Number
95648
Journal
Indian Journal of Criminology Volume: 12 Issue: 1 Dated: (January 1984) Pages: 43-50
Date Published
1984
Length
8 pages
Annotation
The types of fraud committed by bank employees in India are discussed, including forgery, material alteration, theft and misuse of instruments, bogus accounts, and holdups, and the areas where such frauds are likely to occur are examined.
Abstract
Several case studies of fraud are presented, and 19 cases of fraud by bank staff are listed. The following areas of financial dealings are indicated to be the most vulnerable to bank staff fraud: clearing department operations; advances against stocks; advances against the deposits of customers, where receipts are modified, and fresh advances are created by forging the signatures; embezzlement of dormant accounts; and tampering with nominal accounts, where amounts are drawn without any valid reason and are outstanding for a long period. Private international law, which provides rules for the solution of problems involving the interaction of two or more legal systems, is addressed, with attention to the application of such law to dealings between India's financial institutions and those of other countries. Crimes committed by business houses -- usually income tax, foreign exchange act, and import/export violations -- are discussed, and some typical violations are enumerated.