- Fake Documents
Borrowers use hi-tech colour xerox machines to fake title deeds, that look like originals, and present it to banks to get multiple financing for same properties - Booking Profits
Buyer books a flat, avails the initial loan amount, cancels the booking, and gets a refund of the amount directly from the builder; banks are not able to trace the borrower - Construction Gains
Builders take loans to construct houses; they and their agents then sell either developed or undeveloped properties without paying the original loan amount - Bogus Accounts
Agents take loan cheques from banks and deposit them in fictitious accounts instead of giving them to builders; similar fraud exists in case of dividend cheques