Centre moves to curb bank fraud; calls high-level meeting with CBI, banks to discuss mule accounts, delays

Delay is permission

“The Centre’s crackdown on rising bank frauds signals urgency, but the intent must translate into speed. Delays in sanctions under the Prevention of Corruption Act and poor coordination with the Central Bureau of Investigation continue to blunt sanctions,” said Gauhar Mirza, a partner at law firm Saraf and Partners. “Meanwhile, mule account networks are outpacing the system. Unless approvals are fast tracked and accountability is ensured, fraudsters will stay one step ahead. In financial crimes, delay is not procedural, it’s consent.”