Format: MS-WORD Chapters: 1-5
Pages: 88 Attributes: STANDARD RESEARCH
This research is focused on fraud detecting methods used in the Nigerian Banking Industry. The main objectives of the study is to identify the various means of defrauding Banks, to identify the causes of frauds in Banks, to determine the effects, magnitude and frequencies of fraud in Banks, and to suggest measures that can be taken to prevent and or control fraud in the Banking sector.
In a bid to effectively carry out this study, some Banks were randomly selected in Kano metropolis namely First Bank Plc.Union Bank Plc, United Bank for Africa, Afri Bank Plc and Zenith Bank Plc.
Two methods of data collection were used for this study. The primary source of data included questionnaires and direct observation on some of the activities of the members of staff of the Banks and their customers. The Secondary source of data included text books, internet, financial times, Banks annual report of fraudulent theft, alert journals, annual reports of Central Bank of Nigeria, and Nigerian Deposit Insurance Corporation.
From the analysis of the data collected, it was discovered that ineffective and inefficient control was the major cause of fraud in the Nigerian Banking sector.
The data also revealed that fraud contributes significantly to the distress in the Nigerian Banking industry. I recommend that effective and efficient management team must be put in place in order to minimize fraud in the Nigerian Banking sector.
1.1 BACKGROUND OF THE STUDY
1.3 HYPOTHESISHypothesis refers to an experimental statement, tentative in nature, showing the relationship between two or more variables. It is open to test and can be accepted or rejected depending on whether it agrees or disagrees with the statistical test.
1. Ho: The quality of employees does not affect number of fraud in the
H1: The quality of employees affects fraud in the banking industry.
2. Ho: Lack of motivation is responsible for frauds in the banks.
H1: Motivation discourages fraud in banks.
1.5 LIMITATIONS OF THE STUDYLimitations are those factors inherent in research sturdy that might have affected the process of data collection for this research work.
1.6 OBJECTIVES OF THE STUDY
The purpose of this research is to critically examine fraud detection techniques used in the Nigeria banking industry, using banks in Kano metropolis as case study. Specifically, the objectives include:
a. To understand the nature of fraud in the Nigeria banking industry.
b. To identify and look into the cause of fraud in the Nigerian banking industry.
c. To analyze the extent and effects of fraud on the banking industry and economy in general.
proffer ways of detecting, preventing and controlling fraud in banks.
To review existing literatures on fraud, as well as irregularities in banks.
JUSTIFICATION OF THE STUDY
study will be useful to the general public because the banking industry touches
the life of everyone in an economy. Banks all over the world have contributed
immensely to the economic growth and development of nations. As such, problems
such as fraud which can hinder the smooth operations of the banking industry
should be viewed with all seriousness in other not to intercept or destroy the
rate of development.The
efficiency of the banking industry is a necessity for the proper working of a
nation. Thus, this study would be of great use to authorities concern with
banking operations, managements, staff customers and prospective investors in
the industry. In Nigeria, bank fraud have assumed a frightening scale and
sophistication consequent upon the general economic depression of the last
decade and the continuing travails of the banking sector in the wake of
government frantic policy experimentation. The study will therefore identify
the various means (Theft, embezzlement, forgeries etc) employed in defrauding
banks. It will also identify the cause of fraud in banks which may be
institutional and societal i.e. factors traceable to the internal and external
environments of banks respectively.
The study will also identify the various types of fraud and forgeries (ranging from misappropriation of money, goods or other resources belonging to the employers, forging signatures of important officials and falsification of records and accounts) perpetrated in banks.
An organization that provides various financial service, for example keeping or lending money.
Any act of deceiving in order to make money or obtain goods
Banks that concentrate on cash deposits and transfer of service to the general public, offer to be fraud on the high streets.
Mistake or something done wrongly
A forged or worthless cheque.
A person who commits the act of fraud
Method where a depositor utilized the time required for cheque to clear to obtain an authorized loan without interest charge.
A system of check and balance in banking operations
The act of fraud perpetrated with the connivance of different people.
Adewunmi Wole (1986): Fraud in Banks - An overview' Nigerian Institute of Bankers, Lagos, P.3.
Babatunde E.D. (1987): Precipitating Factors and Criminal Motivation. Financial Institution Training Center, Lagos p6.
Layinwole Ashadele (1993)
Fraud: Causes and Prevention Dialogue. United Bank for Africa Plc. Lagos No76 Pg 11 and 12
Sydney I.F. (1986): Management Control System and the Prevention and Detection of Fraud in Banks. Nigerian Institute of Bankers and Land Mark Publications Ltd, Lagos, Page 11- 254.
Suleiman A. Karwai (2002)
Bank Fraud: Can Shariah Prevent It ?
Journal of Business Administration Volume II, Number 1 of January 2002. Page 6271.
27 Banks Report N1.1 Billion frauds in one Month" The Punch (Newspaper, Punch) (Nig.) Lagos Vol. 17, No 18724, Page 1 and 8.
Transparency International (TI) Year 2000. Corruption Perception Index.
|BANKING AND FINANCE||11|
|CONSTRUCTION AND BIULDING||1|
|ELECTRICAL AND ELECTRONICS||1|
|ENGLISH LITERARY STUDIES||29|
|GEOGRAPHY AND PLANNING||1|
|HOM SCIENCE AND MANAGEMENT||3|
|LIBRARY AND INFORMATION SCIENCE||4|
|OFFICE TECHNOLOGY AND MANAGEMENT||21|
|SCIENCE LABORATORY TECHNOLOGY||19|
|SOIL AND ENVIRONMENTAL SCIENCE||1|
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