The CBI has set up a working group to coordinate with various financial institutions to help curb financial frauds. CBI Director Anil Sinha told reporters in Mumbai yesterday that the group will meet regularly and go into various aspects relating to early detection of frauds and defaults. <br/><br/>He said, the working group will look into every default so that it can be declared fraud swiftly and CBI can investigate them expeditiously. Mr Sinha said, CBI will also focus on bringing back black money stashed abroad. <br/><br/>Mr Sinha was speaking after day-long deliberations with bankers, financial institutions and regulators to figure out ways to tackle the rising menace of bank frauds, loan defaults and cyber crime. <br/><br/>Mr Sinha called for free-flow and exchange of information between various institutions so that CBI can actually have a very effective mechanism to proceed against people who are swindling public of their money and also who are causing severe losses to banks. <br/><br/>He said, the CBI will now be engaging with financial bodies like banks, insurance firms and regulatory authorities, for capacity building programme.