As fraud continues to evolve and affect organizations, it becomes important for Law enforcement and fraud-fighting professionals to understand various processes and nuances of investigation, which would help them investigating any event. Today’s fraud investigators need to have both a strong technical and business background as banking and corporates continue to evolve. The RBI has made it mandatory for all banks to have an internal Fraud Investigations team. All internal investigations are supervised or finalized by the Bank’s Chief Vigilance Officer (for public sector banks) and Chief of Internal Vigilance (For private and multinational banks). Hence, the Law enforcement officers pursuing these investigations, can either write to them or to the bank’s Nodal Officers, for collecting the internal investigation findings.

This chapter would guide the participants on each type of frauds as on date and would be a step-by-step guide for each investigation. We would be starting the investigation portion with the responsibilities of Bank’s internal investigator, thereafter, would proceed to the investigation by Law enforcement. The actions performed by the internal investigators can again be validated by law enforcement, hence being tabled here.