When it comes to financial forensic audit, time directly affects outcomes. Many audit firms still spend 30–45 days manually reviewing bank statements, reconciling transactions, and tracing fund movements across accounts. These delays usually arise from unstructured data, inconsistent bank formats, and the need for manual cross-verification, all of which slow investigations and increase operational risk. […]
Tracing the movement of funds, or mapping money trails, is a core task for forensic investigators, auditors, and underwriters to uncover cases involving fraud, tax evasion, and financial irregularities. In India, financial crimes often involve complex layers of transactions, and bank statements are a valuable source that aid investigators in uncovering irregularities. Bank statements are […]
Do you rely on bank statements to get an accurate picture of the borrower’s financial health, and does the statement you got look perfect? If so, you need to scrutinise the document more carefully to determine whether the statement has been staged. Spotting circular transactions could be a good place to start. Circular transactions involve […]
When you review bank statements, similar-looking applications can hide very different business models. One applicant might show dozens of small daily credits totalling ₹50,000, whilst another receives just three large payments of about ₹15 lakhs a month. The revenue is similar, but their risk profiles aren’t the same. Bank statements reveal the difference between B2B […]
Loan evaluation in India still depends heavily on bank account verification, but the number of applications banks, NBFCs, DSAs, and advisory firms handle every day is much higher and complicated than what traditional processes were built for. Many credit underwriters still rely on manual checks, even though the Reserve Bank of India’s 2022 Digital Lending […]
If you’ve ever been part of a financial forensic audits, you know how long and tiring it can be. These audits are essential for spotting fraud, checking creditworthiness, and ensuring compliance. But traditional audits move at a snail’s pace. According to the International Journal of Innovative Science and Research Technology, AI can now perform real-time […]
Designed for high-value, real-time transfers, RTGS transactions are irreversible. Once money leaves an account, recovery is difficult. This means RTGS transactions are a prime target for fraudsters. For instance, in October 2025, a major scam happened in Mumbai. A victim was duped of Rs 58 crore via RTGS into various accounts under the pretext of […]
APIs (Application Programming Interfaces) now drive innovation and operational efficiency across fast-evolving technology domains. API integration enables lenders to automate bank statement analysis, replacing manual reviews with data-driven insights. This approach accelerates and standardises the process for extracting and analysing customer financial data. All lenders, including fintechs, banks, and NBFCs (Non-Banking Finance Companies), process thousands […]
Financial fraud detection is a complex and challenging task, whether you are a lender, forensic auditor, or compliance officer. Despite staying vigilant, fraudsters often find ways to circumvent systems and defraud the financial system. The Reserve Bank of India (RBI) reports a decrease in fraud cases, dropping to 23,953 in 2024-25 from 36,060 the previous […]
21st-century financial fraud leaves, not just one, but numerous digital footprints across multiple banks, wallets, and payment platforms. Today, investigators face suspects who split transactions across 5 to 20 different accounts to obscure money trails. What once involved tracking cheques and cash deposits now requires analysing UPI transactions, NEFT transfers, and cryptocurrency movements all at […]
