Reconstitution of ABBFF: New Era in Financial Oversight

The Advisory Board for Banking and Financial Frauds (ABBFF) has been renewed for two years, with Suresh N Patel as chairman. The board examines high-level bank and financial frauds over Rs 3 crore. It advises banks and investigating bodies while ensuring no conflict of interest among its members.

The Advisory Board for Banking and Financial Frauds (ABBFF) has been renewed for a two-year term, starting from August 21, 2025. This oversight body serves as a crucial safeguard for bankers by evaluating the involvement of senior bank officials in financial frauds over Rs 3 crore.

The board is headed by former Central Vigilance Commissioner Suresh N Patel and includes notable figures like ex-servicemen welfare secretary Ravikant and former BSF director general Rajni Kant Mishra, among others. According to a recent notification, members can be reappointed, provided their service does not exceed four years or they reach the age of 70.

The Central Vigilance Commission and other investigative agencies may also consult ABBFF for technical insights into fraud cases. The board conducts periodic fraud analyses and communicates its findings to the Reserve Bank of India (RBI) and Central Vigilance Commission (CVC) to aid policy development.

(With inputs from agencies.)