• Milan Bharatkumar Undavia

Financial fraud is a big business & a very sensitive issue. Fraud is a worldwide phenomenon that affects all sectors of the Indian economy. The objectives of this study are to examine forensic accounting as a tool for fraud detection in the Bank of Maharashtra (Public Sector Bank). After the Satyam, PNB and PMC Bank scams, forensic accountants are much demand in many companies to detect fraud. Provisions of Companies Act 2013 and Indian Accounting Standards examined by forensic accountants. RBI has made a compulsory forensic audit for banks in India. The concept of forensic accounting still develops in India. A forensic audit is a tool for fraud detection and prevention. The Secondary data has used for the investigation and the annual reports of bank collected from 2011-2012 to 2020-21. The highest number of fraud cases and the highest amount of fraud in public sector banks, Private sector banks, and foreign banks. Descriptive Analysis used for this study. Benford’s Law (mathematical tool) and Chi-square test (Statistically tool) is used for a detection tool for fraud analysis. In Benford’s Law, the First digit & Second digit method used. The study helps to find out the financial frauds in the Indian banking sector.

Fraud, Forensic Accounting, Bank.

"FORENSIC ACCOUNTING: FRAUD DETECTION IN BANK OF MAHARASHTRA ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 10, page no.e546-e553, October-2022, Available :http://www.jetir.org/papers/JETIR2210475.pdf

"FORENSIC ACCOUNTING: FRAUD DETECTION IN BANK OF MAHARASHTRA ", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 10, page no. ppe546-e553, October-2022, Available at : http://www.jetir.org/papers/JETIR2210475.pdf