This study assessed how forensic accounting helps in mitigating frauds in the Ethiopian BankingrnIndustry. It aimed at identifying the types of frauds, causes and evaluating methods of forensicrnaccounting applied and practiced. The study used a survey method as research design. Mixedrntype of research was applied by integrating qualitative and quantitative data to provide arncomplete image. The population of the study comprised 7 banks out of the 20 registeredrncommercial banks which were established before 2000 G.C. Convenience sampling techniquernwas used to select respondents from the population. Primary and secondary data sources arernused to collect data from the respective departments. Sources of data comprised both interviewrnand questionnaire. Primary data collected from respondents were analyzed using SPSS. Analysisrnand discussions comprise responses from the questionnaire and interview questions administeredrnto the selected 7 banks along with the guideline by NBE. The findings of this study showed thatrnforensic accounting methods and techniques applied by banks do contribute to detect, preventrnand assist the investigative process of actual fraud cases. There are also factors causing torndefect the role of forensic accounting techniques to be identified as weaknesses. Loose practicernof internal control policies and procedures, inconsistent training and lack of practical deterringrnmeasures are some. Therefore, it is recommended that tight controls are practiced, consistentrntraining is provided and strict punitive measures are applied to mitigate bank frauds.