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(Banking and Finance)





1.0              Introduction

1.1              Background of the study

1.2              Statement of the study

1.3              Purpose/ objectives of he study 

1.4              Significance of the study

1.5              Delimitation of scope and limitation 

1.6              Definition of terms


2.0       Review of related literature

2.1              Elements that facilitate fraud in bank

2.2              Securities fraud and other investment fraud

2.3              Cashiering fraud

2.4              Falsification or alteration of account

2.5              Forged cheques bearing forged  signature

2.6              Clearing fraud

2.7              Foreign exchange / telex fraud

2.8              The check of fraud in the economy



3.1       Research design and methodology

3.2       Source of data

3.3       Location of data

3.4              Method of data collection


4.1              Findings


5.1              Recommendation

5.2              Conclusion

5.3              Bibliography



The banking industry is yet in its formative stage in Nigeria.  No country whether developed  or developing an afford to over look the directions its banking institution live in their development especial when we consider the unique position of the industry in the pace and direction of economic growth of the nature.  There arise a need therefore of state emphatically that the soundness of the individual bark in economy is an infinite asset which act as a dynamic factor of growth to the general economy.

The role of financial institution  in facilitating the process of intermediation form surplus economic unit to defect economic and unit become paramount intermediation is the ole the financial institution encounter varies problem in fraud.  It is assumed that an alarming proportion that there is no feasible sign near future.

Basically it noted that fraud and loss are expected phenomenon of my business activity the scope and gravity are what create concern in the economy.  The stud identifies varies forms and nature of  bank fraud clearing fraud forgeries and falsification of account were the most common forms of fraud identified with 33% of banking institution in the economy respectively factors that facilitate fraudulent practices were also identified.  These range form the socio economic factors to weak internal control system.  This is effort undermines the operation and performance of banks and could be disastrous if there are not curbed.


Fraud is a social evil it affect the entire sector of the economy which banking system is inclusive although fraud and loss in an expected part of any business activity the scope and gravity is what creates concern in a developing economy like ours.

Fraud in banking sector is generally looked at as acts that involve the loss of asset a through deceitful and dishonest means.  It  certainly constitutes one of the most serious threat to the practice and spread of banking in Nigeria fraud and forgeries involved professional crooks that  are seek to enlist the support and co-operation of   the dishonest members of the bank staff.

In pursuit of the objective of the study a systematic approach will be followed. The study is divided into four chapter. Chapter one takes a look at its introduction background of the study the statement of problems purpose objective  of the study significance of study limitation of study and definition of terms chapter two deals with the literature review “general view” types of fraud causes of fraud element that facilitates fraud .  chapter three concentrates on design and methodology sources of data location of data and tools of analysis chapter four comment on findings of the effect and the recommendation against fraud action to be taken to ameliorate the harm done to the bank summary and conclusion will mark the end of their study.

1.2              STATEMENT OF PROBLEM

Generally speaking professional fraud is new not just because it exposes the societies anemone and raise important questions of public interest which follows this

1.2.1        Fraud is banks nearly leads to lose of money ordinarily belongs to some one other than the bank.

1.2.2        In every bad conditions where fraud occurs with crippling frequency and in wholesale sizes the bank may be forced to liquidate consequently and drastic reduction of patronage in the banking sectors.

1.2.3        The effect of fraud equally dastards management policy to encompass cheek and control system which are by them costly to maintain.

1.2.4        Bankers as a matter of urgency  are expected to be very careful in the  detection for costing and prevention of fraud to help cub and cushion the effect of the menace.     

1.3                OBJECTIVE OF THE STUDY

The aim and objectives of this study are as follows:

1.3.1        To establish the cause of fraud and event that facilitates this act.

1.3.2        To find out the various forms and nature of commercial fraud that provide the system

1.3.3        To keep the general public aware of the hazardous effects of fraud in the banking industry.

1.3.4         To keep the management and its subordinate alert in a way to fight against fraud among back employee they are customer shareholders and the general public.

1.3.5        To find possible solution and control means of fraud in the banking system in a bid to save the economy raise the profitability of bank and to save the image of banking sector.


The banking institution as an engine for economic development is specially designed to carry out contains duties which eventually benefits  the following interest groups are

1.4.1        Industrial sector

1.4.2         Agricultural sector

1.4.3        Individual customers

1.4.4        Government or public sector

1.4.1    INDUSTRIAL SECTOR:   Industrial seek loan and advance form commercial bank  to meet their business financial revilements.  The bank accommodate them by providing permanent financial in the form of  loans the working capital needs are met through bank overdraft facilities.  The funds are however made available to loan seeker who met the lending condition laities of the banks.     

1.4.2    AGRICULTURAL SECTOR:       Development banks are needed to finance specific project particularly the types which private institution cannot easily be induced to finance specially when they are largely experimental in nether taking the high risk that surrounds the agriculturist into consideration such as gestation period nature disaster pest & disease. 

1.4.3    INDIVIDUAL CUSTOMERS:       Banks as custodian of high liquidity keeps safe the customers deposits which are payable on demand grants over draft especially to current account holder discounts the customers commercial papas and pays their customers a sum entire in money as ordered by their debtor.  

1.44     GOVERNMENT OR PUBLIC SECTOR:           Bank is an avenue through which government controls the economic activities of the country through the use of C.B.N as the apex bank that implements the monetary policy measures on banks and other non-bank financial institution in the country.


FRAUD:        Is loss of assets an act that involves misrepresentation of acts so as to gain business advantage.

COROLLARY FRAUD:     It is fraudulent act that involves no monetary assets like securities shares etc. with respect to individuals that have capital invest and desire to make money.

INTIMIDATION:     The role of banks in the economy by channeling or mobilization of excess fund   form surplus unit for viable investment.

MISREPRESENTATION:             Unfruitful statement made by customers or employee either in writing or orally in orally to gain business advantage.

MACHINIST:  Is one who operated the computer or any other automated ro unallocated machine in the bank.

FIDELITY:   A statement of true fats in relation of the risk involved in the business venture.


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