In this paper, using a graph-theoretic approach, we address some issues related to the fault detection and isolation for structured bilinear systems. Considering a structured bilinear system submitted to faults and disturbances, we give necessary and sufficient conditions to the solvability of the so-called bilinear fundamental problem of residual generation. We also treat the cases where the system is submitted to multiple failures occurring simultaneously or only one at a time. One of the main advantages of the proposed analysis tool is that all the given conditions are easy to check because they deal with finding paths in a digraph. This makes our approach well suited to studying large scale systems.