The police, as part of the investigations, collects 24 specimen signatures of all those suspected to be involved -- including bank officials -- and sends them for verification to Ahmedabad.

But this process delays investigation a great deal. Add to this a nexus between bank employees and frauds and, say investigating officers, recovery of defrauded money is practically impossible.

``Bank frauds are increasing by the day. What is worrisome is that people from other states too are involved in the crime,'' Police Commissioner Maniram told Express Newsline. Even he admitted that recovery in such cases was extremely difficult, though arrests were made in these white-collared crimes.

Denying that the police were ill-equipped to investigate bank frauds, Maniram said that in many cases, the police were informed of the crimes too late to initiate any concrete action.

A delegation of share-holders, mutual funds certificate-owners and others cheated of their money recently met Maniram, who asked them to submit individual cases in writing and promised them prompt action. Most of them complained that they thought their money was ``unsafe'', while others openly alleged that bankers connived with criminals in cheating the banks.

Maniram agreed. ``Yes, no major fraud can take place in a bank without the involvement of a responsible employee'', he said, adding that that was often why complaints were not registered.

Explaining further, Maniram said that investigations had revealed that relatives of bank officials were often involved in frauds. ``If we are informed even on suspicion, the police can arrest the culprits quickly, but that seldom happens,'' he said.

The Surat People's Bank case last week is a glaring example of the bank frauds that have become commonplace in the city. Six people systematically defrauded the bank of Rs 30 lakhs and another two banks of about Rs 50 lakhs. Two members of the gang were recently arrested in Delhi, while the kingpin, Maqsood Salim Bawa alias Lala, is in custody till November 14.

Other such cases have been reported at the State Bank of India, Chowk Bazaar and the Indian Bank, Mahidharpura.

Detection of Crime Branch PSI K C Parmar, who has handled most of the recent fraud cases, said that though identifying and even arresting the culprits was not a very difficult job, recovery was extremely difficult. He, too, agreed that late complaints hampered the job further.

Officials also said that in view of the high incidence of bank frauds, a handwriting expert should be stationed permanently in the city.