The Crime Bureau of Investigation has recently seen a hike in the number of bank fraud cases. CBI in the year 2020 has registered bank fraud cases amounting to more than Rs. 67,319.40 crore. This amount is thrice the amount reported in the year 2019 which reported about 196 FIRs. The agency revealed that on analyzing 543 FIRs that they registered, 2020 has seen a huge rise in the number of bank fraudulent cases. On the other hand, the anti-corruption agency is also largely occupied with bank fraud cases. 2019 saw a reportage of 91 bank fraud cases, that amounted to a fraud of Rs. 19,830.14 crore. This amount was announced to be about 15.40% of the total cases that the agency registered in the year. The increase in the cases in 2020 can be proven by the fact that contrary to 2019, the percentage of bank fraud cases registered stood at 36.09%.
The data of 2020 revealed that just like the cases in 2019, a limited number of defaulters, about 13.77% were involved in nearly 80% of the total fraud amount. The total amount of Rs. 53,379.38 crore constituted about 79.29% of the total fraudulent amount and was prominently reported in 27 FIRs, each amounting to over Rs. 500 crore. As CBI announced, some of these FIRs were against the same companies. The amount of fraudulent money might be large but the total number of entities involved in such crimes was lesser than expected. The analysis made by Millennium Post revealed that all the credit fraud cases reported in 2020 showed that more than 58.21% of CBI’s branches are probing into at least one bank fraud case. By December 31, 2020, 39 Crime branches were looking into at least one Bank fraud case.
Some of the biggest money fraudulent from last year were DHFL, Avantha Group, YES Bank, and RKW Developers. The Surana Corporation and its group companies amounted to a total of Rs. 4,425.76 crore in two FIRs.