Customer Perceptions of Bank Frauds: An Analytical Study

Abstract

The Indian banking sector plays a vital role in the Indian economy, serving as a cornerstone for financial transactions, capital allocation, and economic development. However, with the increasing sophistication of financial crimes, banks face significant challenges in safeguarding their assets and maintaining the trust of their account holders and stakeholders. Among these challenges, bank frauds represent a critical threat to the financial stability and reputation of financial institutions worldwide.
This study focuses on investigating explores about the "Customers' Perception on Bank Frauds" provides a comprehensive exploration of the intricate dynamics surrounding bank frauds from the standpoint of customers within the Indian banking sector. As financial transactions become increasingly digitized and complex, the risks of fraudulent activities have also escalated, posing significant challenges to both banks and their clientele. Understanding customers' perceptions, awareness levels on bank operations related frauds , types of bank frauds and reasons for bank frauds is paramount for effectively combating such illicit practices and fostering trust in the banking system.