Banking and financial institutions have been struggling to deal with an increasing number of fraud incidents and the trend is expected to continue, according to Deloitte India survey.
The reasons which was identified for the increase in fraud incidents over the next two years include large-scale remote working models, increase in customers using non-branch banking channels , Deloitte Touche Tohmatsu India LLP (DTTL) said.
Deloitte added that it gathered the views of 70 key C-suite stakeholders/ senior management responsible for compliance and fraud risk management, audit/ finance.
The retail banking was identified as a major contributor to fraud incidents, with 53 per cent of respondents, as per the survey findings.
(With inputs from PTI)
