Sutra 1: Have a ROBUST Fraud risk identification, event reporting, control, allocation and mitigation framework. ‘Four eyes principle’ must be followed in all sensitive areas without compromise. 4/5  BIS central bankers' speeches  Sutra 2: Follow the 5 ‘Cs” of CREDIT - Capacity, Capital, Collateral, Conditions and Character. Sutra 3: Bring in a CULTURE of eternal vigilance, strong internal control and compliance.
Please remember Fraud is criminal offence. Sutra 4: Remember that the solution for TECHNOLOGICAL CHALLENGES is not always more technology. Sutra 5: Institute checks and balances to calibrate PEOPLE RISK. High rate of attrition is a new normal which we have to face.