NDB enlists foreign experts to recover Rs13.69bn in defrauded funds

The National Development Bank's board of directors is moving to secure assistance from a foreign specialist firm in recovering funds and digital assets tied to significant internal financial fraud, according to sources familiar with the matter.

A comprehensive forensic audit, conducted by Deloitte Touche, identified the fraudulent activity totalling Rs13.69 billion within the bank's operations. The final audit report is understood to detail the extent of the financial irregularities and identify specific assets available for recovery.

The bank's leadership has determined that engaging external expertise will strengthen recovery efforts, potentially involving complex asset tracing and international coordination. The engagement of a foreign firm suggests the recovered funds or digital assets may be distributed across multiple jurisdictions, necessitating specialized knowledge of cross-border financial recovery procedures.

This development comes as the bank works to address one of the country's most significant internal fraud cases in recent years. The forensic investigation's findings are expected to inform both recovery strategies and internal governance reforms at the institution.