Yes Bank to hire CAs for checking fraud

Private lender Yes Bank has advertised for employing Chartered Accountants for the position of `Quality Control Financial Crime` in Kolkata.

Yes Bank looking to fill this post gains significance in the backdrop of a number of bank frauds in the past few years, the most notable being the Rs 13,500 crore scam committed on state-run Punjab National Bank by accused diamantaire Nirav Modi, which was reported last year.

According to the bank, the position would require creating scenarios, alerts and parameters for ongoing anti-money laundering monitoring of trade finance transactions.

The incumbent would also require to do "review of trade-based money laundering alerts for identification of any suspicious activity and engagement with business, product, operations to establish potential TBML (trade-based money laundering) activity," it said.

The hired official would also have to file suspicious transaction reports (STR) to the Financial Investigation Unit for suspicious cases, it added.