Banks to seek change in definition of 'fraud'

A rigid regulation requires all banks to label a borrowing company and all its accounts as 'fraud account (s)' when one lender puts a fraud tag. It sets off a process where lenders have to file police complaints and take a knock- which is often disproportionately higher than the size of the fraud -on their bottom lines.

from Banking/Finance-Industry-Economic Times https://ift.tt/kbyXuWj