Fraud Examination is divided into three basic aspects
• Fraud Detection
• Fraud Investigation
• Fraud Prevention
There is a very thin line between the fraud detection and the fraud
investigation in India.
To explain it in a simpler manner the detection process is carried out by
the auditor (or the employees performing the similar supervision
functions). Fraud Investigation is the work of the law enforcement
officials like police department in India and the prevention is the work of
the management.
There are many specialized courses that teach you to combat frauds.Asian School of Cyber Laws is one
such initiative that teaches people about the frauds related to cyber world. Indian chapter of ACFE offers the
course based on the white-collared crimes prevalent in USA they are based on the US laws.
However there is no formal body that provides formal education of the frauds in India.
Mumbai was king of the financial frauds. All the big ticket financial scandals such as Harshad Mehta, Ketan Parekh and Sanjay Seth were committed from the Mumbai city. Since it is the financial capital of the country it was very obvious. But to the surprise of the nation hub of frauds have changed. Over a period the technology changed and even the hub of the frauds. New hub of frauds is transformed from Mumbai to Pune.Though Bangalore leads the competition of becoming the silicon valley of India Pune has surpassed Bangalore, Mumbai and all other cities in the cybercrimes. Pune BPO, Webcam Kulkarni, Swimming Tank Webcam and
thousands of credit card frauds are the few to mention. All these frauds won the medal for the Pune police for its efficiency.
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