The Central Vigilance Commission had warned of irregularities in jewellery sector a year before the PNB scam became public. A meeting was reportedly held in January 2017 with chief vigilance officers of 10 banks, including PNB to discuss such irregularities. The meeting particularly focussed on fraud committed by Winsome Diamonds' Jatin Mehta, who fled after defaulting on ₹7,000-crore worth loans.