Bank Verification Number (BVN): A Panacea for Mitigating Fraud in the selected banks in Keffi metropolis.

Ahmed Aliyu t. 21 PAGES (5194 WORDS) Article
Subscribe to access this work and thousands more


Abstract:

The advent of Bank Verification Number (BVN) in to our banking sector has brought a prevention of financial ill practices with their mixed feeling to all stake holders. BVNis a new phenomenon in the Nigerian banking sector that prevent fraudulent activities and enhances quality services for profit making.The main objective of this study is to determine the effectiveness of BVN on fraud prevention in the selected banks. Data was collected using a well structure questionnaire which was analysed using simple percentage and hypotheses formulated for the study were tested using regression for the analysis of data. The findings of the study revealed that BVN contributed significantly to reduction of fraud in the selected banks. The study concluded that BVN has enabled the selected banks to mitigate fraud and preventing fraudulent activities which improve confidence on their customer’s satisfaction.In light of these, the study recommended that the selected banks should enhance their enabling environment to ensure effective service delivery.

Keywords: Bank, BVN, Customers, Fraud and Service delivery.


Subscribe to access this work and thousands more
Overall Rating

0

5 Star
(0)
4 Star
(0)
3 Star
(0)
2 Star
(0)
1 Star
(0)
APA

Ahmed, A (2019). Bank Verification Number (BVN): A Panacea for Mitigating Fraud in the selected banks in Keffi metropolis.. Afribary.com: Retrieved September 17, 2019, from https://afribary.com/works/bank-verification-number-bvn-a-panacea-for-mitigating-fraud-in-the-selected-banks-in-keffi-metropolis

MLA 8th

Aliyu t., Ahmed. "Bank Verification Number (BVN): A Panacea for Mitigating Fraud in the selected banks in Keffi metropolis." Afribary.com. Afribary.com, 29 Aug. 2019, https://afribary.com/works/bank-verification-number-bvn-a-panacea-for-mitigating-fraud-in-the-selected-banks-in-keffi-metropolis . Accessed 17 Sep. 2019.

MLA7

Aliyu t., Ahmed. "Bank Verification Number (BVN): A Panacea for Mitigating Fraud in the selected banks in Keffi metropolis.". Afribary.com, Afribary.com, 29 Aug. 2019. Web. 17 Sep. 2019. < https://afribary.com/works/bank-verification-number-bvn-a-panacea-for-mitigating-fraud-in-the-selected-banks-in-keffi-metropolis >.

Chicago

Aliyu t., Ahmed. "Bank Verification Number (BVN): A Panacea for Mitigating Fraud in the selected banks in Keffi metropolis." Afribary.com (2019). Accessed September 17, 2019. https://afribary.com/works/bank-verification-number-bvn-a-panacea-for-mitigating-fraud-in-the-selected-banks-in-keffi-metropolis