The Central Vigilance Commission (CVC) has constituted Advisory Board for Banking Frauds (ABBF) to examine bank fraud over Rs 50 crore and recommend action.

• It has been established by CVC in consultation with the Reserve Bank of India (RBI) based on consultation (recommendation) of YM Malegam Expert committee on Non-Performing Assets (NPAs) and frauds constituted by RBI.
• It will conduct first level of examination in all major fraud cases before recommendations or references are made to investigative agencies such as Central Board of Investigation (CBI) by the respective public sector banks (PSBs).