An Analysis of Financial Fraud through PNB Bank Scam and its technical Implications
Gurinder Singh, Shalini Srivastav, Anubhuti Gupta, Vikas Garg · 2020 International Conference on Computation, Automation and Knowledge Management (ICCAKM) · 2020
The government is looking forward for the betterment of banks and coming out with various new schemes, the PNB scam came as a huge blow to the entire banking sector and brought almost everything on a stand still. This 11,700-crore scam involved more than four banks which is a big question mark on the financial safety of banks. This scam was almost five years old and was not detected by anyone. Therefore, there are serious questions on the internal operations and auditing processes of the bank and also a the main regulatory body RBI is also under serious mode of self-check. This case study aims to identify and analyze the major factors that led to this huge scam and also tries to detect the involvement of various businessmen who has created an impact on the economy as a whole.