Fraud and Vigilance in Banks
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Advanced Bank Management — CAIIB.
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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.
Define identity theft in banking context.
Illegal use of another's personal/financial information (name, card details) to purchase, borrow or open accounts without permission.
Name three ways computers get infected in cyber fraud.
Email phishing links, malvertising on websites, drive-by-downloading via un-patched exploits.
What is SIM cloning fraud?
Duplicating victim's SIM card to intercept OTPs and access mobile banking/financial services fraudulently.
Define triangulation fraud in digital banking.
Customer enters card details on fake shopping site; data harvested and misused for fraudulent transactions.
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