Reshmi Khurana Shares Her Views on Virtual AGMs in Business Times
Omer Erginsoy, Senior Managing Director in the Business Intelligence and Investigations practice at Kroll, a division of Duff & Phelps, discussed the fraud scenario in India, especially during slow economic conditions, and the potential reputational risk in an interview with The Economic Times.
“When a banker gives a bad loan and loses money, that’s not a crime; it’s bad banking and you may lose your job. But when you cover it up; that becomes a crime,” Omer said.
To curb corporate fraud incidents, the banking industry needs an efficient and effective reporting mechanism in place. Without this, regulators, investors and stakeholders might be misled about the actual liquidity position of the bank where the reported figures on the balance sheet are inflated.
Read the full article here.