ICICI Bank topped the list of banks that witnessed most number of frauds during April-December 2016 in FY2017 with state-owned SBI in the second spot, according to Reserve Bank of India data.
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Over 455 fraud cases involving Rs 1 lakh and above each were detected at ICICI Bank, followed by SBI (429), Standard Chartered (244) and HDFC Bank (237).
Axis Bank (189), Bank of Baroda (176) and Citibank (150) were among the other banks that reported large number of frauds.
But in terms of value, SBI topped the list with reports of Rs 2,236.81 crore worth fraud. Punjab National Bank reported Rs 2,250.34 crore fraud followed by Axis Bank, at Rs 1,998.49 crore
The data released by the Reserve Bank of India (RBI) also showed that a large number of fraud cases involved bank staff. The number was as high as 64 in case of SBI, followed by HDFC Bank and Axis Bank at 49 and 35, respectively.
In all, 450 bank employees were reportedly involved in 3,870 cases for a total value of Rs 17,750.27 crore.
