New Delhi: Country’s banking sector lost over Rs 2000 crore in frauds during 2009-10 with more than 200 of these incidents involving cheating of above one crore each, according to  CBI Director A P Singh.

The CBI chief has warned the banks of latest trends emerging in banking frauds in areas like electronic payments, technology-related payments like RTGS, credit cards, ATM, cell banking, internet banking among others.

"Banking Sector has lost as much as Rs 1,883 crore and Rs 2,017 crore during 2008-09 and 2009-2010, respectively. These include over 200 frauds of above Rs one crore during each year," he said during the 'Third Conference of Central Vigilance Officers of 31 Public Sector Banks and Financial Institutions' at the CBI headquarters here.

Singh said CBI's role was to investigate the criminality in bank frauds and it does not interfere in cases of prudent commercial judgement, even if such decisions involve risks or have resulted in losses to banks.

He called upon banks to adapt to changing technology and to sensitise its officers to new areas of fraud being used by scamsters.

 

(Agencies)