IIARD International Institute of Academic Research and Development

IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH (IJBFR )

E-ISSN 2695-1886
P-ISSN 2672-4979
VOL. 4 NO. 1 2018

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Fraud Prevention in the Nigerian Banking Industry

Alhaji Kawugana and Faruna Simon Faruna

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Abstract

The study is aimed at the assessment of the course of financial fraud in Nigerian banking industries and it remedies with particular reference to First Bank, Keystone Bank and Zenith Bank. No reliable statistic exist (in any report so far) on the value of successful and frustrated fraud in Nigerians banks. The research delved into silent issues on types of financial frauds, courses, remedies, the effect of financial frauds on banking sector and effectiveness of fraud preventing measures. The research fraud that the annual average of financial fraud cases reported between a particular periods was coursed by failure of workers to observe the laid down procedures of their banks. Economic and social conditions also courses financial frauds in our banks. The research also recommends proper supervisory measures and should be taken by Central Bank of Nigeria (CBN) and NDIC in order to stop or minimize fraud in banks. They should also find out the methods used in banks steers in defrauding the bank industry; the internet E-banking fraud, the falsification of account, the use of forged cheques, corruption and signatures were rank among the highest means of fraud

keywords:

Fraud, Banks, Industry, Prevention

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References:

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