A senior official from central bureau of investigation (CBI) said that banks particularly public sector often ignored financial crimes in their internal audits and they sometimes delay the prosecution of the accused employees.

CBI superintendent of Police SS Gavai , at a conference of vigilance officers from various government departments in Goa said, "This practice creates a conducive ground for financial scams."

He pointed out that even when there are frauds amounting to millions of rupees, internal bank audits do not bring them to light. He said, "In my 32 years of service in the CBI, I have not come across a single case where a banks internal audit report points out such frauds in the records."

He said that banks only look at recovering the money loaned out and in the process and a lot of precious time is wasted in that.

Gavai, who heads the anti-corruption unit of the CBI in Goa added that very few central government institutions in Goa had full-fledged chief vigilance officers training.