Govt extends scope of Advisory Board for Banking and Financial Frauds (ABBFF) to cover all fraud cases involving amount of Rs.3 Crore and above

The Central Vigilance Commission (CVC) on Thursday expanded the scope of the Advisory Board for Banking and Financial Frauds (ABBFF), which would now examine bank frauds of Rs 3 crore and above and recommend action. Till now, the ABBFF was only looking into banking and financial frauds of Rs 50 crore and above.

The ABBFF will examine all cases of total amount involving Rs.3.00 Crore and up to Rs.50.00 Crore. 

Head of Advisory Board for Banking and Financial Frauds (ABBFF)- T M Bhasin.