Clari5: Breaking an Unholy Nexus. Combatting Related Party Transaction Fraud in Banks

Increasing instances of related party transactions (RPT) fraud in banks seem to be making the old ‘blood is thicker than water’ saying truer by the day.

Several high-profile cases in the recent past seem to be having a common thread – RPT. RPTs have also been a source of concern for regulators because of inappropriate and inadequate monitoring of RPT transactions, besides non-disclosures.

RPTs typically involve an executive who has an undisclosed financial interest in another entity. In one

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