Friday, March 22, 2013

Losses likely to mount in Bengal bank fraud

...........The modus operandi is so unusual that both the banks and the affected government undertakings are claiming to be victims of the fraud. But the money that has been siphoned off can’t be traced although the accounts through which the money disappeared are being said to be fully compliant with Reserve Bank of India’s know-your-customer, or KYC, norms............

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