Credit unions (CUs) have been known historically for their member-first mentality and intimate face-to-face banking model. This business structure has worked in their favor, but it also has left some CUs less prepared for the pandemic-driven shift to digital-first banking Read More …
Category: Fraud
How Credit Unions Can Work to Identify and Eliminate Fraud Risks
229 banking frauds a day in 2020-21, recovery rate below 1%, RBI says in RTI reply
Banking frauds in India are so frequent and rampant that they no longer surprise most people. For example, take the last financial year, 2020-21, during which more than 83,000 banking frauds took place that syphoned off Rs 1.38 lakh crore. Read More …