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BANK FRAUD AND ITS EFFECTS ON NIGERIAN’S ECONOMY (A CASE STUDY OF AFRIBANK NIGERIA PIC ENUGU)

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  • Pages:99
  • Format:Microsoft Word
(Banking and Finance Project Topics & Materials)
ABSTRACT
Cases of frauds and foreign in banks have not only become incessant but have also been on the increase in recent years. Although frauds and foreign in banks are global phenomena, their growth in Nigeria Deposit Insurance Corporations (NDIC) annual report for instance, presents a disturbing picture of rising trends of fraud in banks from N360.2 million in 1992 to N351.9 million in 1991. The amount unloved in frauds in commercial banks alone rose to N1, 377.15 million in 1993, whereas the actual expected loss rose from N64.8 million to N241.0 million. 
Fraud, in banks is clearly unacceptably something’s drastic ought to be done to gently stem the tide in view of its image implications for the banking industry and the adverse effects it will have on the economy. The study emerges in response to this development. In carrying out this research work, questionnaires were distributed to the respondents for their reactions. Equally oral interviews were also carried out and some texts written by eminent scholars were consulted. The researcher believed all these would give enough information for a sound report. This study therefore seeks to identify the causes and effects of book fraud. After analyzing the returned 25 questionnaire distributed to the staff of Afribank Nigeria PLC Enugu, the following findings were made: 
1. No internal control system is 100% errors proof but the internal control system of banks can be designed to make the perpetration of fraud difficult. 
2. Non-periodic review of work by bank management gives loophole and the tendency to commit fraud in the industry. 
3. The law enforcement agencies of the countries fail to deal seriously with the bank fraud sters apprehended and handed over to them. 

Based on these, the following recommendation were made: 
1. The use of close circuit television surveillance should be commencing in all banks.
2. Bank should ensure that computer operator’s passwords are kept in safe hands when there is movement of Alfred staff.      
TABLE OF CONTENTS
CONTENTS PAGES 
COVER PAGE 
TITLE PAGE 
APPROVAL PAGE 
DEDICATION 
ACKNOWLEDGMENT 
ABSTRACT
CONTENTS 

CHAPTER ONE  
1.0 INTRODUCTION 
1.1 BACKGROUND OF THE STUDY 
1.2 STATEMENT OF PROBLEMS 
1.3 PURPOSE OF THE STUDY 
1.4 RESEARCH QUESTIONS 
1.5 SIGNIFICANCE OF THE STUDY 
1.6 SCOPE AND LIMITATION 

CHAPTER TWO 
2.0 LITERATURE REVIEW
2.1 MAJOR CAUSES OF BANK FRAUD 
2.1.0 INSTITUTIONAL CAUSES OF FRAUD 
VOLUME OF WORK 
NUMBER OF STAFF 
NATURE OF SERVICE
BANKING EXPERIENCE 
INADEQUATE / LACK OF STAFF TRAINING 
POOR MANAGEMENT 
STAFF NEGLIGENCE 
RECRUITMENT SYSTEM 
POOR SECURITY ARRANGEMENT FOR DOCUMENTS 
USE OF SOPHISTICATED ACCOUNTING MACHINES 
FRUSTRATION 
INADEQUATE INFRASTRUCTURE 
LAPSES IN THE MANAGEMENT 
CONTROL SYSTEM OF CORPORATE CUSTOMERS 
2.1.1 ENVIRONMENTAL / SOCIAL CAUSES 
SOCIETAL VALUE 
PERSONALITY PROFILE OF DRAMATIZE PERSONNEL 
SLOW LEGAL PROCESS 
LACK OF EFFECTIVE DETERRENT PUNISHMENT 
2.2 EFECTS OF BANK FRAUDS 
2.2.0 EFFECTS OF BANK FRAUD ON THE BANKING INDUSTRY 
CRISES OF CONFIDENCE AMONG BANK CUSTOMERS 
IMAGE IMPLEMENTATIONS 
2.2.1 EFFECTS ON OUR ECONOMY
2.3 NATURE AND TYPES OF FRAUD 
2.3.0 ADVANCED FEE FRAUD 
2.3.1 CHEQUE KITTING FRAUD 
2.3.2 ACCOUNT OPENING FRAUD 
2.3.4 MONEY TRANSFER FRAUD 
2.3.5 LOANS FRAUD 
2.3.6 COUNTERFEIT SECURITIES 
2.3.7 CHEQUE FRAUD 
2.3.8 MONEY LAUNDERING FRAUD 
2.3.9 CLEARING FRAUD 
2.3.10 COMPUTER FRAUD 
2.3.11 TELEX FRAUD 

CHAPTER THREE 
3.0 RESEARCH DESIGN AND METHODOLOGY
3.1 AREA OF STUDY 
3.2 POPULATION 
3.3 SAMPLE SIZE 
3.4 SAMPLING METHOD 
3.5 INSTRUMENT FOR DATA COLLECTION 
3.5.1 QUESTIONNAIRE 
3.5.2 PERSONAL INTERVIEW 
3.5.3 SECONDARY DATA 
3.6 ANALYTICAL TOOLS

CHAPTER FOUR 
4.0 DATA ANALYSIS AND INTERPRETATION OF RESULT 
4.1 ANALYSIS OF OPERATIONAL QUESTIONS 

CHAPTER FIVE 
5.0 SUMMARY OF FINDINGS 
5.1 RECOMMENDATION 
5.2 OTHER CONTROL MEASURES 
5.3 CONCLUSION 
BIBLIOGRAPHY
QUESTIONNAIRE 


BANK FRAUD AND ITS EFFECTS ON NIGERIAN’S ECONOMY (A CASE STUDY OF AFRIBANK NIGERIA PIC ENUGU)

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Details

Type Project
Department Banking and Finance
Project ID BFN1275
Price ₦3,000 ($9)
No of Pages 99 Pages
Format Microsoft Word

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    Details

    Type Project
    Department Banking and Finance
    Project ID BFN1275
    Price ₦3,000 ($9)
    No of Pages 99 Pages
    Format Microsoft Word

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