Master of Commerce (M.Com.) Fraud Management in Banking Syllabus - Mumbai University 2026

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Syllabus for Fraud Management in Banking

Elective course · Semester 4 · M.Com. Banking and Finance · 4 credits · 100 marks

Module I: Types and Causes of Banking Frauds (2 CREDITS)

Unit 1 Overview of Banking Frauds
1 Definition and Classification of Frauds
o Define banking frauds and their implications for financial institutions and customers.
o Classify frauds based on categories such as operational, cyber, and financial frauds.
2 Common Types of Frauds
o Cheque Fraud: Forgery, altered cheques, and stolen cheques.
Cyber Fraud: Phishing, vishing, ransomware attacks, and SIM swaps. o
o Identity Theft: Fake IDs for loans, credit card misuse, and account takeover.
o ATM Fraud: Skimming, cloning, and card trapping.
o Loan Fraud: Submission of forged documents, willful defaults, and misappropriation of funds.
3 Causes and Motivations Behind Banking Frauds
o Discuss internal and external factors contributing to fraud (e.g., lack of internal
controls, greed, weak regulations).
o Analyze psychological and economic motivations behind fraudulent activities.
o Case studies on real-world fraud incidents to highlight causes and consequences.
4 Steps to Manage Fraud Incidents
o Immediate actions: blocking accounts, freezing transactions, and securing evidence.
o Communication protocols: informing stakeholders, customers, and regulators.
Unit 2 Regulatory Framework
1 Role of RBI and Other Regulatory Bodies in Fraud Management
o Explore RBI guidelines for fraud detection, reporting, and management.
o Discuss the role of SEBI (for financial frauds) and cybercrime authorities.
2 Guidelines and Compliance Requirements for Fraud Prevention
o Discuss key regulatory frameworks like the Prevention of Money Laundering Act
(PMLA) and Information Technology Act.
o Explain fraud reporting timelines and responsibilities of banks under RBI's Master Directions.
3 Case Studies on Regulatory Actions Against Banking Frauds
o Analyze regulatory responses to significant banking frauds in India and globally
(e.g., Nirav Modi case, PNB fraud).
o Discuss the effectiveness of penalties and preventive measures.
4 Insurance Coverage for Fraud Losses
o Explain the role of insurance in mitigating fraud losses.
o Discuss common fraud insurance products and their coverage limitations.

Module II: Fraud Prevention and Detection (2 CREDITS)

Unit 3 Prevention Mechanisms
1 Internal Controls and Checks
o Discuss the role of internal audits, dual control, and segregation of duties in fraud prevention.
o Explain how regular audits reduce opportunities for fraud.
2 Employee Training and Awareness Programs
o Emphasize the importance of staff training in recognizing suspicious activities.
o Discuss the role of whistleblower policies in fraud prevention.
3 Customer Education on Secure Banking Practices
o Teach strategies for educating customers on phishing, safe online practices, and card safety.
o Case examples of banks running fraud-awareness campaigns.
4 Role of Audit and Compliance in Fraud Prevention
o Discuss the compliance team's role in monitoring adherence to anti-fraud policies.
o Explain how regular compliance checks mitigate risks.
Unit 4 Detection Techniques
1 Data Analytics and Fraud Detection Tools
o Explore how data mining and pattern recognition tools help detect anomalies.
o Discuss fraud detection software used by banks.
2 Red Flags and Warning Signs in Banking Transactions
o Teach students how to identify red flags such as unusual transaction patterns, sudden changes in account behavior, or discrepancies in documents.
3 Investigative Techniques and Forensic Audits
o Discuss the role of forensic accounting in tracing fraud.
o Explain techniques like document analysis, tracing funds, and fraud profiling.
4 Role of Technology in Fraud Detection
o Explore the use of AI and machine learning in predictive fraud detection.
o Discuss the potential of blockchain in creating tamper-proof transaction records.

References

1 Indian Institute of Banking & Finance, "Fraud Prevention and Control."
2 Reserve Bank of India guidelines on fraud management.
3 Deloitte, "Banking Fraud: Risks and Controls."
4 Research papers and case studies on banking frauds.
5 Publications on technology-driven fraud detection systems.

Reproduced from the University of Mumbai syllabus for M.Com. (Banking & Finance) under NEP 2020, in force from the academic year 2023-24. Wording is as printed in that syllabus. Module numbering is as printed there too.

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