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Fraud and Vigilance in Banks
Define fraud under Section 17, Indian Contract Act, 1872.
False suggestion, active concealment, promise without intent to perform, or any deceptive act by contract party or agent with intent to deceive.
What is forgery under Section 463, IPC 1860?
Making false document with intent to commit fraud or cause damage, including fictitious/deceased person names.
Name three deposit-area frauds in banks.
Fraudulent documentation alteration, fake photocopies of FD receipts by staff, retention of original receipts.
What is kite-flying in advances fraud?
Fraudulent discount of instruments in clearing; cheques drawn without sufficient funds support.
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