When a company’s Mumbai office transfers ₹50 lakh to its Bengaluru branch for operational expenses, that’s standard business practice. When the same ₹50 lakh cycles through three related entities and returns within 48 hours whilst appearing as “sales revenue” on loan applications, that’s fraud. According to PwC’s Global Economic Crime Survey, 59% of Indian organisations […]
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 […]
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 […]
Detecting missing transaction months might sound like a boring bookkeeping job. But fraudsters love to exploit gaps in your paperwork. Modern tools like Precisa make it possible to spot these gaps automatically, so risky omissions don’t slip past busy reviewers. When you, as a lender, accountant, or compliance officer, review bank statements, you depend on […]
In India’s rapidly digitising financial ecosystem, the risk of fraud has grown significantly. A PWC report pointed out that nearly 59% of Indian organisations had been defrauded over the previous 24 months. For financial institutions, early fraud identification is not merely a regulatory requirement but a business imperative. This is where forensic audits become critical. […]
Economic offences like money laundering, shell companies, and tax evasion have escalated in India. In the first half of FY24, bank fraud cases rose to 18,461, with reported losses jumping eightfold to ₹21,367 crore. These financial crimes undermine public trust and destabilise the economy. The Enforcement Directorate (ED) responded by attaching assets worth ₹1.45 lakh […]
Money laundering is clearly one of the biggest threats to India’s financial and economic stability. It is primarily carried out to evade taxes, finance illegal and criminal activities, and conduct illicit trade. The Enforcement Directorate (ED) revealed that it registered over 5,900 money laundering cases between 2014 and 2024. The total value of money laundering […]
Forensic audits have become critical in India’s fight against financial fraud, especially as the country suffered over ₹22,845 crore in losses to cybercrime in 2024. Stock trading frauds alone accounted for ₹4,636 crore. For financial health, traditional audits have long been the norm, but forensic audits are a better choice when legal conflicts or fraud […]
PwC India’s analysis predicts a major increase in digital financial suspicious transactions, with volumes rising from 159 billion in FY 2023-24 to 481 billion in FY 2028-29. This sustained growth pattern indicates that the number of transactions in 2025 will be higher than the 159 billion recorded in FY 2023-24. This trend represents a 3x […]
As economic offences get more penetrative and sophisticated, financial institutions across the world face increased threats. One of the methods opted for such offences is the exploitation of money mules. This touches financial institutions, businesses, and governments globally, raises questions from the regulatory side, and brings instability to the financial system. NCRP reported that around […]
