UNMASKING DECEPTION: FORENSIC ACCOUNTING'S INFLUENCE ON FRAUD REDUCTION IN INDIA'S BANKING INDUSTRY

The significance of forensic accounting in fraud reduction cannot be overstated, particularly in a complex financial landscape like India's banking industry. Forensic accounting serves as a crucial instrument in detecting, investigating, and preventing fraudulent activities that pose substantial threats to the integrity and stability of financial institutions. Through specialized techniques like data analysis, financial examination, and investigative methodologies, forensic accountants play a pivotal role in uncovering fraudulent schemes, tracing illicit financial transactions, and providing evidence for legal proceedings. This study delves into the critical role of forensic accounting in combating fraudulent activities within India's banking sector. With a focus on enhancing understanding and awareness, the research sets out three primary objectives. Firstly, it aims to investigate the current landscape of forensic accounting in India, exploring its methodologies, practices, and regulatory framework. Secondly, the study seeks to assess the level of awareness among bank managers regarding the efficacy of forensic accounting in reducing instances of fraud. Finally, it endeavours to analyse the relationship between the demographic profiles of bank managers—such as age, gender, and years of experience—and their awareness of forensic accounting's role in fraud reduction. Moreover, the findings of this study carry practical implications for various stakeholders, including policymakers, regulators, banking professionals, and industry participants. By gaining insights into the awareness levels of bank managers regarding forensic accounting and its efficacy in fraud reduction, policymakers and regulators can develop targeted interventions to enhance training, education, and awareness initiatives within the banking industry. The study's methodology involved interviews with 200 bank managers, allowing for a comprehensive assessment of the impact of forensic accounting on fraud reduction within India's banking industry.