Hello and welcome to exampundit. Today we are sharing a letter on the topic “Letter to the editor sharing views on banking scams and how to tackle them” for SBI PO Mains 2018.
Letter to the editor sharing views on banking scams and how to tackle them
5, Ring Road,
14th May 2017
Times of India.
I am writing this to you to share my views on the recent scams in the banking sector. It is very unfortunate to know that an industry that is trusted by millions of people for their monetary requirements and safety, fell prey to such a huge scam.
Technology has surpassed the imaginative boundaries for both development and destructive means. In this time, when criminal minds give such a tough competition to the ones who are responsible for the security, the vigilance department needs to think one step ahead of them.
Also, utmost care should be taken while recruitment processes in order to check which person banks are letting in their system. Banking industry is one of the pillars of our economy and scams like Kingfisher and Nirav Modi have resulted in a crack that would take years to fill in.
It is making our system weak and vulnerable to other scammers out there. Another thing that should be taken care of are the proper security guidelines and regulation of the same more often. Constant changes will prevent the outsiders to figure out the pattern banks follow and thus will keep them at bay.
The alert system should be made more efficient as soon as possible because even one more such scam may lead to the fall down of the whole banking system.