Red flags are very useful in combating frauds. With more and more innovative ways of perpetuating frauds, companies struggle to keep pace with these fraud methodologies. In such scenarios, Banks need to rely on infrequent and subtle red flags that don't necessarily mean fraud, but point to a weakness or an incident that can potential be due to an underlying fraud. Type red flags in google and you are likely to come across tens of red flags that banks can adopt to manage frauds. Through this Article, we would like to get a good list of Red flags in Banking frauds. Please sharre your views on various red flags in Banking relating to frauds. The following is the article in Economic Times (Jan 3, 2011) on the status of Risk Management in India.