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Red flag accounts

Ritik Chopra (student) (8128 Points)

16 April 2021

what are red flag accounts in a bank?

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CA. Sourav Sarkar (Chartered Accountant ) (24583 Points)
Replied 16 April 2021

The concept of a Red Flagged Account (RFA) is being introduced in the current framework as an important step in fraud risk control. An RFA is one where a suspicion of fraudulent activity is thrown up by the presence of one or more Early Warning Signals (EWS).

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