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Hit by a Rs 11,400 crore fraud, state-owned Punjab National Bank (PNB) has cautioned other banks about the modus operandi of the scam. "It has been reported through a preliminary investigation that the suspected fraud has been carried out by the perpetrators in collusion with the staff of one of the our branches in Mumbai," PNB said in a letter sent to various banks, including those from the private and public sector as also to foreign lenders.