Forensic Accounting – A Tool for Encountering Bank Frauds (An Opinion Survey)

Dr. E. Hari Prasad and S. Sridhar Reddy
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Dr. E. Hari Prasad: Vaageswari College of Engineering, Karimnagar, Telangana, India
S. Sridhar Reddy: Assistant Professor, Dept. of Business Management, Vaageswari College of Engineering, Karimnagar, Telangana, India

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 2, 1021-1028

Abstract: A country’s development directly depends on the economic health of that country. It is not exaggerated to say that the economic progression of a nation is vital to keep the nation rolling on its wheels. An efficient and strong banking system is the backbone of the country’s economy. But, in recent years Indian economy experienced various bank frauds and scams that pulled the economic system into the stake. But the failures in the Indian banking system pushed the economy at stake and adversely affected investors’ investment behavior. This led to financial distress and funds were divorced and improperly drain off many banks collapsed. As per the recent records, a total of 9,103 fraud cases in banks were recorded during the financial year 2021-22. Therefore, the present study aims to study the appropriateness of forensic accounting in mitigating financial fraud in banks.

Date: 2023
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