Frauds in the “banking” industry in Nigeria and in society in general, this study is going to highlights the nature and various types of fraud, causes of bank fraud, extent of fraud in banks, effects of bank fraud, detection, presentation and control measures to be adopt by management to check fraud incidents.
The purpose of this research work is to find out whether there is significance level of fraud in Nigerian banks, to know whether Nigerians practice aid or abate fraud and to consider the adequacy of the internal control system in detecting and preventing fraud in the bank.
Hypothesis will be formulated and tested with chi-square and inference drawn thereform. The method to be used in collecting of data will includes a well-structured and easy to follow questionnaire. The collection of primary data will be through the medium of respondents. The findings will reveal the compensation of banking services and the maintenance of effective internal control mechanism and it will help to reduce the incidence of fraudulent activities in the bank. In the same vein, the recommendation of adequate internal control system should be maintained, effective fraud management, strict adherence of administrative management policies should be ensured to check and possibly fraud incidence in the bank.
The detection and prevention of frauds should be elaborative effect between banks, their customers, the public, and the government. Frauds in the banking system should as much as possible, be minimized as it kills the bank and destroys the economy of a nation.
The primary objective of this research work is to examine the impact of fraud in the bank and adequacy of the measures instituted to ensure its early detection, prevention and total elimination in the bank.
This work is divided into five chapters, the first focus on the introduction. It also deals with the background of the study, statement of research problems, objectives of the study, significance of the study, limitations of the study.
Chapter two reviews related literature. Chapter three emphasizes on research design and methodology. Textbooks in the library, journals and other materials which are related to the topic were extensively used as a method of collecting data needed for the research. Chapter four summarizes the findings while in chapter five, necessary recommendation were also given and conclusion were summarized.
Fraud is an awful phenomenon, which like a vein has invaded Nigeria banking industries and the society in general, and puts any organization that it comes into in a distress point or in a state of liquidation.
This study highlights the nature and various types of fraud in banks, effects of ban fraud and control measures adopted by management to check fraud incidents.
Frauds in the banking system should as much as possible be minimized as it kills the bank and destroys the economy of a nation.
Finally, the research work adduced that continuous vigilance should be the watch work if fraudulent practices are to be reduced and possibly eliminated in banking industry.
TABLE OF CONTENT
Table of Contentviii
1.1Background of the study1
1.2Statement of the problem4
1.3Purpose/objective of the Study7
1.4Significance of the study8
1.5Limitations of the study9
2.1Review of related literature11
2.2Concept of Fraud13
2.3Types of Fraud15
2.4Impacts of frauds in the Nigeria banking industry.23
2.5Extent of Bank Frauds28
Research design and methodology31
3.1Sources of data (Secondary Sources Only)31
3.2Location of data31
3.3Methods of data collection (Literature work only).32
Recommendation and Conclusion.35
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