The trade of counterfeit currency is a big challenge over the world and financial institutions are places where most of transactions take place. And still some foreign currencies are not so familiar for bankers. Even they don’t know how they look. The system applied in bank is just traced the currency number, customer phone number, keep the Xerox copies of passport and other travel documents. To produce fake passport along with counterfeit currency is trend for fraudsters.
30 July 2018
Risk is inherent in any business operations. It is more critical and sensitive in the financial sector. Banks and Financial institutions are invariably facing different types of risk that may have adverse impact on their business. It is of utmost importance for the banks to properly manage risk to protect banks from getting exposed to possible risk.