Fraud is an inherent vice. It has been on from time
immemorial even before the invention of money. However, in our yet
developing world with the quest to become rich quick on the increase,
fraud is becoming rather rampant. Banks deal essentially in cash and
other financial instruments and because of that it has been exposed to
greater risk of fraud. The attention of many have been drawn to the
banks either directly or indirectly. Most people/workers look up to the
banks to rise up to their problems. With such motives some workers go to
the banks disappointed. Not getting so much as thought, most of them
decide to make away with what they can at the slightest opportunity.
Nigeria’s depressed economy also comes to mind. Fraudulent persons
often connive with bank officials to dupe the banks. Telex fraud is also
a new dimension. In writing this project I am very conscious of the
much work that has been done in this very project. I am going into this
research bearing the following objectives in mind, determining actually
whether financial fraud exist in Nigerian banks, verifying the effects
of financial fraud in banks, finding out how computer aid in the
commission, detection and prevention of financial fraud, reviewing the
work that has already been done in area of financial fraud. The
project will be based on both primary and secondary data interview
questions were used to ascertain the true instruments of the analysis.
Under secondary data magazines, news papers and published books were
used. Responses to the questionnaires were analyzed in percentages, this
will enable the researcher to assign and give percentage weight to each
alternative in order to make a good comparative analysis and to choose
the alternative with the highest percentage.
TABLE OF CONTENTS Title page ii Approval page iii Dedication iv Acknowledgement v Table of Contents vi Abstracts ix Proposal xi
CHAPTER ONE Introduction 1.1 Background of study 1 1.2 Statement of the Problem 3 1.3 Significance of the study 4 1.4 Objectives of the study 5 1.5 Formulation of hypothesis 6 1.6 Scope of the study 8 CHAPTER TWO Review of Related Literature 2.1 Introduction 10 2.2 Definition of fraud 11 2.3 Fraud and fraudulent practices and banking services 13 2.4 Nature and types of frauds 15 2.5 Causes of Bank Fraud 22 2.6 Effects of fraud in banks 34 2.7 Loopholes in the banking system 35 2.8 Who are fraudsters in banks? 40 2.9 The fate of depositors in case of bank financial 43 2.10 Effects of computer on detention and prevention of financial fraud in Nigeria banks 45 2.11 Measures for controlling fraud in banks 47
CHAPTER THREE Research Design and Methodology 3.1 Sources of Data 52 3.2 Location of Data 53 3.3 Method of Investigation 54 3.4 Interview Questions 54 3.5 Sample used 57 3.6 Method of data analysis 59 CHAPTER FOUR Data presentation and analysis 4.1 Data Presentation 60 4.2 Respondents to Questionnaire 60 4.3 Test of hypothesis 66 CHAPTER FIVE The research findings 5.1 Summary of findings 73 5.2 Conclusion 75 5.3 Recommendations 76 Bibliography Appendix
DETECTION AND PREVENTION OF FINANCIAL FRAUD IN NIGERIAN BANKS
ABSTRACT Banks deal essentially in cash financial instruments and other documents which are generally of a negotiable and easily transferable in nature. Hence it is very pertinent to say that the exposure of the banks to both internal and external fraud is very great. This practices is very common to areas involving cash, cheques and fund transfer... Continue Reading
ABSTRACT Banks deal essentially in cash financial instruments and other documents which are generally of a negotiable and easily transferable in nature. Hence it is very pertinent to say that the exposure of the banks to both internal and external fraud is very great. This practices is very common to areas involving cash, cheques and fund... Continue Reading
ABSTRACT All investigation using samples are aimed at discovering some things about a particular population. The success of any sample lies in the accuracy with which it reflects the true state of affairs in the whole population. It is however known that it is highly impossible that such reflection would be 100% accurate when we draw a random... Continue Reading
ABSTRACT All investigation using samples are aimed at discovering some things about a particular population. The success of any sample lies in the accuracy with which it reflects the true state of affairs in the whole population. It is however known that it is highly impossible that such reflection would be 100% accurate when we draw a random... Continue Reading
CHAPTER ONE INTRODUCTION 1.0 Background of the study A closer look at institutions in our society shows that a lot of businesses are folding up due to fraudulent acts. Both the management and the employees indulge in activities that can bring down an institution, and ignorance of the roles of an internal auditor is also a problem.... Continue Reading
ABSTRACT Detection and prevention of financial fraud in Nigeria banking system. The dictionary meaning of fraud by penny means unlawful act, unfair advantage such as deception to the deferment of another. In banking system, financial fraud is also referred as a deliberate... Continue Reading
FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY FIRST BANK ENUGU ABSTRACT Fraud is an inherent vice. It has been on from time immemorial even before the invention of money. However, in our yet developing world with the quest to become rich quick on the increase, fraud is becoming rather rampant. Banks deal essentially in cash and other... Continue Reading
ABSTRACT Fraud in this study is shown as any dishonesty acts intended to deceive and deprive someone of his legitimate possession. This study was aimed at finding out how fraud could be detected and prevented in the Nigerian banking industries. The major findings in this study include the followings: (a)Frauds in banks very often (b)Frauds in... Continue Reading
ABSTRACT Fraudulent practices in Nigerian Deposit Money Banks (DMBS) have led to increased losses and collapse of deposit banks, hence the need to use digital forensics services to detect and prevent such fraudulent activities. The banking industry is a very important institution with many internal controls in order to overcome the fraudulent... Continue Reading
ABSTRACT Fraudulent practices in Nigerian Deposit Money Banks (DMBS) have led to increased losses and collapse of deposit banks, hence the need to use digital forensics services to detect and prevent such fraudulent activities. The banking industry is a very important institution with many internal controls in order to overcome the fraudulent... Continue Reading