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Bank’s battle against insider frauds ignitors and mitigators: an emerging nation experience

Neha Chhabra Roy (Department of Finance and Accounting, Narsee Monjee Institute of Management Studies, Bengaluru, India)
Sankarshan Basu (Department of Finance and Accounting, Narsee Monjee Institute of Management Studies, Bengaluru, India)

Journal of Facilities Management

ISSN: 1472-5967

Article publication date: 3 August 2021

Issue publication date: 21 September 2021

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Abstract

Purpose

Banks are exposed to many challenges to name a few i.e. growing market competition, political environment, market forces of demand and supply, technological changes, frauds and poor management. The banking sector devasted experiences of fraud have impacted all facets of the Banking, Financial Services and Insurance. In continuation, this study aims to revolve around themes of different types of frauds, especially insider frauds that have gained mainstream attention in recent major value fraud events with prominent Indian banks. This study will identify the types and drivers of insider frauds.

Design/methodology/approach

The methodology opted for the study is through confidential primary survey and focused group discussion with risk officers of banks who are associated with Indian banks for more than three years, further to understand the relation between type of Insider frauds and originating drivers were paired based on the principal component analysis.

Findings

Finally, the paper concludes with the conceptual mitigation framework for different types of insider fraud and driver pairs within the scope of this paper. This paper thought will support policymakers of the Indian banking system to create a more robust environment within the banking system via timely detection of frauds so that up to an extent it can be squared before it appears.

Originality/value

The study is innovative in the area of banks’ internal fraud management, where original data collected through a primary survey contributes to the conclusion of fraud management for various Indian banks.

Keywords

Acknowledgements

Authors acknowledge Editor and Anonymous reviewers for their timely and valuable inputs for the refinement of the paper. Besides, we do acknowledge respondents of questionnaires, experts from banks for their time and useful interaction and inputs.

Funding: The author(s) received no financial support for the research, authorship and/or publication of this article.

Citation

Roy, N.C. and Basu, S. (2021), "Bank’s battle against insider frauds ignitors and mitigators: an emerging nation experience", Journal of Facilities Management, Vol. 19 No. 4, pp. 437-457. https://doi.org/10.1108/JFM-04-2020-0021

Publisher

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Emerald Publishing Limited

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