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. 9 NO. 1 2023
DOI: https://doi.org/10.56201/ijbfr.v9.no1.2023.pg24.37

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The Impact of Internal Control Measures on the Detection and Prevention of Fraud in Banks (A Case Study of Fifteen (15) Selected Deposit Money Banks in Nigeria)

Prof. Madubuko Cyril Ubesie, Ngozi Ibezim & Mgbobi Cyriacus

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Abstract

This paper explores the impact of internal control measures on the detection and prevention of fraud in Banks. Primary data were used for this study. This study was carried out by collecting data from 15 quoted Deposit money banks in Nigeria as at March, 2022. The model of used for the study was least square regression. It was observed that strong internal control system, good corporate governance, and compliance with banking ethics have positive and significant influence on fraud prevention in banking industry. This indicates that a commitment in the implementation of the variables of this study will reduce fraud, errors and misappropriations in banking sector. The study recommended that banking institutions should establish and ensure effective and strict implementation of all these variables which is strong enough to prevent fraud, errors and misappropriations.

keywords:

Fraud Triangle, Internal Control System, Corporate Governance, Compliance with Banking Ethics

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References:

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Ajala, O.A., Amuda, T., &Arulogun, L. (2015). Evaluating internal control system as a
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Aron, B. (2006). Ethics and decision making for interpreters. Retrieved 15 th Sept 2016, from
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