Forensic Accounting is a traditional accounting realm, which focuses on examining audits and taxes to identify fraudulent practices. They assist banks and law enforcement personnel in fighting crime and combating fraud. Forensic accounting professionals play an instrumental role in helping banks to eliminate the financial conflicts. These professionals enjoy immense significance in the banking sector as they prevent substantial losses to sustain profitability. Fraudulent practices cost banking organisations and government billions of dollars and these figures are rapidly growing. With the advent of technological innovations, cyber frauds have increased at an alarming pace. Forensic accounting professionals deploy various tools and strategies to prevent fraudsters, and prevent them from falsely stealing money from the bank. Hence; India is also not lagging in the race to incorporate forensic accounting in its operational activities. The; objective of this research study is to critically evaluate the effectiveness of forensic accounting process in the banking sector with insight from accounting professionals. The; selected respondents for this study consist of banking accounting professionals of nationalized banks in Bengaluru. We; also discussed the impact of forensic accounting in the current scenario with insight from accounting professionals in the banking sector. The; survey findings was assessed with the help of a statistical tools, and the implications has been clearly stated. The research work was concluded with the presentation of further scope in this particular arena.

KEYWORDS: Banking Sector, Forensic Accounting, Thefts & Frauds, Banking Sector, Audits.