ABSTRACT
At that place were so many difficulties which this research work was confronted with bank officials were so loath to give out helpful information about this problem and there was likewise the cost of research and limited time for learning analysis and prop or interpretation of data effort was reached by the researcher to personally visit places where the above secondary data were turned up. In the absence for the need for primary data question pairs administration was deemed unqualified therefore every material used in the research, writing were completely work done by the other person's personal effort was merely used in drawing out relevant information needed for the task.
After due analysis of the available secondary data the researcher identified the statistical data of members of staff involved in frauds and forgeries, returns of commercial and merchant bank in frauds and forgeries and then along.
Experience has demonstrated that even in the most regulated home accidents can even occur. Bank staff should be properly sorted before being used and adequate bank education should be devised for the banks questioners.
CHAPTER ONE
INTRODUCTION
1.1BACKGROUND OF STUDY
1.2STATEMENT OF PROBLEM
1.3THE AIM OF THE STUDY
1.4RESEARCH QUESTIONS
1.5SIGNIFICANCE OF THE STUDY
1.6SCOPE LIMITATION AND DELIMITATION
REFERENCES
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1WHAT IS FRAUD IN THE BANKING INDUSTRY
2.2CAUSES OF BANK FRAUD
2.3TYPE OF FRAUD
2.4 ADVANCE FEE FRAUD (“419”)
2.5EFFECTS OF BANK FRAUD
2.6REASONS FOR COMMITTING FRAUD
2.7TECHNIQUE OF FRAUD CONTROL IN BANKS
REFERENCES
CHAPTER THREE
RESEARCH DESIGN AND METHODOLOGY
3.1SOURCE OF DATA
3.2LOCATION OF DATA
3.3METHOD OF INVESTIGATION
REFERENCE
CHAPTER FOUR
4.0SUMMARY OF FINDINGS
4.1MEMBERS OF STAFF INVOLVES IN FRAUD AND FORGERIES 1989-2003
4.2RETURNS OF COMMERCIAL BANKS ON FRAUD AND FORGERIES 1989-1998
4.3RETURNS OF MERCHANT BANK IN FRAUD AND FORGERIES 1989-2003
4.4TEN BANK WITH HIGHEST NUMBER OF REPORTED FRAUD CASES 1989-2003
REFERENCE
CHAPTER FIVE
5.1CONCLUSION AND RECOMMENDATION
5.2RECOMMENDATIONS
BIBLIOGRAPHY
INTRODUCTION
Fraudulent act in the banking industry” is of a peculiar concern to the monetary control and supervisory authority who are consigned with the safety of individual banks and the firmness of the banking industry.
Fraudulent act” is common in Nigeria banking industry, but clients as well as employees, temporary staff engage in fraud and forgeries in banks.
Frequent occurrence of fraud ultimately distracts the attention of the management and lead to increase in running cost.
Time and energy that would have been spent improving customer service would be expended in preventing fraud. Increasing instances of fraud and forgeries in our banks lately if not shaped would pose certain threats to the stability and survival of individual banks and the public presentation of the industry as a whole. Reported instances of fraud in merchant banks dropped significantly from 16 in 1997 to 9 during the year 1998 similarly, there was a decrease in the total quantity involved, from 187-59 million in 1997 to N67.35 million in 1998.
Fraud in whatever loss is limitless in classification. In the banking industry, there could be the presentation of forged checks granting of unauthorized loans unauthorized overdraft, position of fictitious credits, suppression of checks, fraudulent transfer and withdrawal and so on, Dr John Orjih in his text, defined fraud as the deliberate effort aimed at obtaining unlawful advantage at the hurt of another individual who is the true possessor of the store.
Awosanya, widely defined fraud as any deliberate action in whatever configuration, written, spoken, physically designed to deprive a legitimate owner or his or her asset, property or right.
Osborne, defined fraud as a means of obtaining material advantage by unfair or wrongful means involving certain moral responsibilities.
STATEMENT OF PROBLEM
Banks operate on the pivot of public confidence and faith in the ability of the bank of delivering as and when demanded the Nigeria society is poisoned with the desire to become rich fast so as to feel important, as they behave that wealth is the measure for power and importance. It is in the realization of these facts that those get rich quick minded set of people steer their attention to defrauding the banks.
Fraud has caused the loss of large sums of money, contributing to the liquidating of several banks and consequent unemployment and similar troubles.
This work is therefore beset by the actuate problem of finding out the genesis and cause of fraudulent act in the banking industry the magnitude of fraudulent practices in the police records remains worrisome, and this has made a partial paralysis on the base of the stem of the Nigeria banking system.