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Tutorial – How To Report Bank’s Fraud Cases to CBI ?

Checkout the various CVC guidelines on reporting of fraud cases to investigating agencies like CBI. Central Vigilance Commission (CVC) has revised the guidelines for reporting the cases of frauds to different departments like CID,  State Police or CBI incase of Public Sector Banks.

Frauds of minimum Rs 3 crore and to Rs 25 crore, up from Rs 15 crore, have to be reported to either the CBI’s Anti-Corruption Branch (in case staff involvement is prima facie evident) or to the Economic Offences Wing (if employees involvement is prima facie not evident) respectively. 

RBI’s circular states that the cases of frauds involving more than Rs 25 crore and up to Rs 50 crore should be given to the CBI’s Banking Security and Fraud Cell (BSFC), irrespective of the involvement of a public servant

The BSFC is a specialised unit of the Central Bureau of Investigation (CBI) to probe big-ticket bank fraud cases. 

The cases of more than Rs 50 crore should be lodged with the Joint Director (Policy), CBI.

Reporting of Fraud Cases

  1. Frauds between Rs 10,000 and up to Rs one lakh, if committed by staff, should be reported to the state police.
  2. In cases of frauds of Rs one lakh to  Rs three crore need to be registered with the state CID or the economic offences wing of the state concerned.
  3. The frauds of Rs one crore and above should be reported by the private sector and foreign banks to the Serious Fraud Investigation Office (SFIO) in addition to the state police. 

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