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Published by , 2017-08-16 02:30:27

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Employee
Awareness

FCMD DUE DILIGENCE

Dedicated To….

FCMD DUE DILIGENCE

Dear Readers

This e-book is dedicated to all our
Colleagues for their immense
support and zest for learning and
being aware.

Our journey which started in 2015
was meant to be more vigilant
towards fraud and make us
prepared for its aversion whenever
the situation arises. Attempt has
been made to highlight all possible
arenas of fraud through necessary
case studies with the objective to
disseminate information and spread

awareness.

On Completion of our 100th edition
we present to you a compilation of
all our EDM’s.

Messages from Management

Dear Colleagues,

Growing customer expectations present a unique combination of
opportunities and challenges. While these lead us to exploring
and introducing innovative ways/ channels of offerings to
customers, such offerings expose us, as an institution, to risks of
financial crimes of equally complex nature. However, these very
challenges, in turn, become key drivers for strengthening/
improving our risk mitigation mechanism. It has been proved time
and again that among all the possible solutions/ mitigation
measures, in combating such crimes, the differentiating factor
remains common i.e. employee awareness, irrespective of the
nature of these crimes.

As an institution of repute, we, at Axis Bank, are consistently
making progress in building a culture of Employee awareness and
education, resulting into greater ability of anticipating and
adapting to evolving externalities, embracing new challenges
and preparing for future uncertainties. One of such measures in
this direction has already taken shape in the form of Due Diligence
E-Bulletins, which serve as a roadmap for greater insights into
addressing the challenges of financial crimes.

Our people are our key assets and this belief remains relevant in
our preparedness towards a robust system of prevention and
detection of financial crimes. A team high on awareness and
agility, is key to an environment of customer confidence, which
ultimately translates into a stronger brand. I firmly believe that
such initiatives go a long way in insulating not only our employees
but also our Bank from risk of loss of reputation.

Shikha Sharma

Managing Director & CEO

Message from Rajesh Dahiya,

Dear Friends,

The Indian Banking sector is experiencing a plethora of changes to
meet international standards, while balancing its commitment to
financial inclusion. The last 2 years have been particularly
significant from fraud risk management perspective, with the RBI
issuing directives aimed at improving governance and profitability
levels among banks, through effective mitigation of risk. The pace
of change in the sector has left banks grappling with complexities
arising out of innovative financial crimes that not only eat into the
bottom line but also hit us where it hurts the most i.e. our brand
image, which is a manifestation of the tireless contributions from the
entire Axis family.

The proliferation of the use of internet and the resultant
transformation of the nature of financial crimes is an indicator of the
urgent need for higher degree of awareness and vigilance in Banks.
The swiftly changing dynamics of these challenges are also
pointers to an imminent need for a corresponding upgrade of our
abilities to protect the entire banking environment from threats
posed by the ever-evolving financial crimes, and this can be
achieved provided we are sensitive to it.

We, at Axis Bank, have always strived to excel in extending
banking services to our customers. However, we also adopt ‘Zero
tolerance’ towards fraud and fraudulent activities, and, therefore,
consistently emphasize on a ‘compliance culture’ that is in tune
with the extant policies, guidelines, and spirit thereof.

Coinciding with the 100th edition of E-Bulletins, FCMD has come out
with a wonderful and valuable collection of the previous editions,
in the form of a handy e-book which is easy to access and is
available on your phones, just to make learning possible –
anywhere, anytime. I am delighted at this effort, given the wide
range of coverage and the relevance of the contents. It will
definitely guide the readers towards not only higher compliance
standards but also measures of keeping intact the customer
confidence that we have achieved through our perseverance year
after year. Let us revisit the universal truth- ‘Knowledge is the light
that removes the darkness of ignorance, and is a real power that
always remains with the person in all good and bad times’.

Rajesh Dahiya.

Message from Shailesh Verma

Dear Friends,
With financial crime becoming increasingly sophisticated, taking
a holistic view of fraud and cyber threats is the only way to ‘Safe
Banking’.By adopting a comprehensive counter-fraud approach
and using the latest advancements in data analytics,
organizations can confidently protect themselves and their
customers while consistently growing the business.
The dictum ‘Prevention is better than cure‘ holds good even now,
prompting us to the need to continously educate ourselves with
the prevailing / emerging fraud trends and the mitigation
mechanism.
We present to you this E-Bulletin series, with the objective of
bringing greater awareness on the subject. These case studies
coupled with the Do’s & Don’ts’ would serve the purpose of being
effective enablers in this direction.
Let’s imbibe the virtues of ‘Safe Banking’ as well as ‘protective
and preventive’ banking for our customers and other
stakeholders as well.

Happy learning
Shailesh Verma
FCMD

SR. NO Table of Contents No. of
EDM’s
Subject
21
01 Account Opening/Modification Frauds 7

02 Identification and reporting of suspicious 8
Transaction 8
18
03 Demonetization - AML
2
04 Vishing 9
22
05 Social Networking fraud (Job Scam, Fake Emails 5
etc.) 100

06 Skimming

07 Cheque Theft from the Branch/ATM

08 Cheque Fraud

09 Cash mishandling/ Bank Gurantee Fraud
Grand Total



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