IDFC First Bank probes suspected $65 mln fraud in accounts of government entities - Reuters

<a href="https://news.google.com/rss/articles/CBMivwFBVV95cUxPTl9HSm93TExQaTlGZ3BOd3plV1BhdmJOWDN6czhUa2JEejMwWGdNX2xPblZadlQtMVRHcE5PcE9tYnZHaE5PUWdGY3M4NG1ZX2lJbk1iWUdEVmNoNEtiYUZuTFFtbEZWR1RpdHoxc3JobEhyaUVaRzB0N0ZOaW9vWXl5RTlZaW1sUUNORU5RMHc0Z3FPaGx4SzNPRlRXUC1pdzZFZllvT2FWZjNBbThBdVhxRGNwOVE2YTlNeEMwRQ?oc=5" target="_blank">IDFC First Bank probes suspected $65 mln fraud in accounts of government entities</a>&nbsp;&nbsp;<font color="#6f6f6f">Reuters</font>

IDFC First Bank has uncovered a significant fraud totaling Rs 590 crore at its Chandigarh branch, involving employees and government-linked accounts of the Haryana government. Four officials have been suspended pending investigation, and the bank is appointing an independent agency to conduct a forensic audit.

IDFC First Bank Ltd reported a Rs 590 crore discrepancy in deposits held on behalf of the Haryana Government at its Chandigarh branch, identified four employees as suspects and suspended them pending investigation. The bank has also informed its statutory auditors and initiated the process of appointing an independent external agency to conduct a forensic audit.

IDFC FIRST Bank reported a suspected ₹590 crore fraud at its Chandigarh branch involving Haryana government-linked accounts. Four employees have been suspended, and a forensic audit is underway. The bank is also in the process of appointing an independent external agency to conduct a forensic audit.

IDFC First Bank has reported a ₹590-crore fraud involving bank officials and certain individuals employed at a particular branch in Chandigarh, potentially in collusion with other individuals and entities. Four suspected officials have been placed under suspension pending investigation.

IDFC First Bank disclosed a Rs 590-crore fraud committed by its employees and others in accounts held by the Haryana Government with the private sector lender. Four officials have been placed under suspension pending investigation, and the bank is appointing an independent agency to conduct a forensic audit.