Borrowal fraud in banks, also called loan fraud, refers to any deceitful act where an individual or entity intentionally provides false information to obtain a loan or credit, often by manipulating their income, assets, or employment details to deceive a lender and secure funds they wouldn't otherwise qualify for.
In contrast, non-borrowal frauds—such as forgery, misappropriation of funds, manipulation of books, diversion of funds, and misfeasance—account for 90 per cent of fraud cases but only 2 per cent of the total fraud value during the same period.
Within non-borrowal frauds, digital and cyber frauds dominate, making up 96 per cent of cases by number, though they account for just 22 per cent of the fraud value.
Diese Geschichte stammt aus der December 14, 2024-Ausgabe von Business Standard.
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