what are red flag accounts in a bank?
1 Replies
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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