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Can Fin Homes says employees committed nearly Rs 38.53 cr fraud
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India's Can Fin Homes Ltd on Tuesday said employees at one of its branches had committed fraud of nearly Rs 38.53 crore ($4.7 million) by transferring funds to different personal bank accounts. The housing financier said it estimates a one-time impact on its profitability of the same amount, without giving a timeline.
It added that there was no impact on its assets or asset quality due to the incident. The fraud was committed over a period of time and detected on July 24, Can Fin Homes said.
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