It would be important for the Top Management of banks, and more specifically, the ACB members to internalize these aspects quickly and to develop a deeper understanding of the entire RBS process. (c) Frauds: This is another area which needs increased focus and greater sensitivity from the ACB members.
Everyone acknowledges the importance of putting in place appropriate systems and processes as the first and foremost requirement for preventing such incidents. The systems and processes may be in place. But do they really work? We tend not to look at it until and unless something serious happens. How fast is the dissemination of information within the bank?