FRAUD AND FORGERY IN THE NIGERIAN BANKING INDUSTRY
CHAPTER ONE
1.1 statement of problem
2.1 What bank fraud
3.0 Statement of hypothesis
CHAPTER FOUR
4.0 Data presentation
Conclusion
1.1 STATEMENT OF PROBLEM
Seeing all the adequate measures such as internal control auditing, separation of duties, monitoring of branch operations, application of diplomacy actions etc. in order to control fraud and forgery in the Nigerian banking industries, still there is fraud and forgery in the Nigeria banking industry.
More still, banks screen the best staff for employment monitor and check dormant accounts, apply fraud detecting machines periodic rotation of bank staff etc, all are also another fraud control measures, despite all these, there is still bank fraud.
The next question a reasonable one will ask is “why does bank fraud still occurs:
This led me to write on this topic to really know, what bank fraud is, types, its effects on the economy, suggested control measures, causes of fraud in order to take this problem in the society over out banking industry.
1.2 RATIONALE OF THE STUDY
However, in accounting today the issue of fraud and forgery has been so ran pact among Nigerian banking institutions. Actually fraud cannot be easily be eradicated but with some control measure amendment can be made to control it. So the researcher had seen this problem of fraud and forgery in the country and has decided to bring out same solution to stop this or reduce the rate of this problem.
Now the question is that does it mean that all this measures for fraud and forgery control has no impact in the banking industry? Why do we still experience fraud and forgery despite all this measures such as internal and external another, generalities for fraud less, adequate call over etc. still we experience fraud and forgery. It is of this reason that I researcher had forgery. It is of this reason that I researcher has decided to know what fraud and forgery is all about in the banking industry, the native and forms of bank fraud to know same of the facilities that facilitate fraud, to know the actual infact of fraud in the economy. Having seen also this reasons it is of this note that I the research will libe to bring out same solution to put an end or limit this ugury institution in the banking industry and this has lead me to write on this topic. Fraud and forgery in the banking industry”
1.3 SIGNIFICANCE OF THE STUDY
This research on fraud and forgery in the Nigerian banking industry will be of importance to many individuals who are bank customers and also to banker.
Since the research ex-rayed various types of fraud and forgery the bank will use it as an avenue to know the types of fraud and forgery that happened to then if any can made adjustment to its re-occurrence.
Also, banks will use the possible measure to control fraud an forgery in order to avoid bank distress and failures.
Other parastatals apart from banks will equally benefit fro this research as it give solutions to fraud and forgery.
Morestill, since the researcher took mark tyiro in caning out with a good material like this, it will be of good importance to subsequent researchers.
1.4 DEFINITION OF TERMS
The following terms in this study should be taken to mean the following:
Is an intentional use of deception to obtain an injust or illegal advantage, is basically bome out of violation of trust. It is a phenomenon that is growing in methods, magnitude and sophistication. Fraud has also been defined as the intentional misrepresentation of financial information by one or more individuals among management of banks, employees.
Is defined in the 1969 Act as the business of receiving manias from outside source as deposits irrespective of the payment of interest, and the granting of money loans and acceptance of credits or the purchases of bills and cheques on the purchase and soles of securities for account of others of the assumption of guarantees and other warrantees for others effecting of transfers and clearing such other transactions as the commissioner may, on the recommendation of the central bank order published in the federal gazette designate as banking business.
According to the audit operational standards, audit is defined as the independent examination or an expression of an opinion on the financial statement of that appointment, and in compliance with relevant statutory obligation.
Is concern with the actions taken within an organization in order to regulate and direct its activities and personnel. It is the whole system of controls, financial and otherwise, established by management in order to carry on the business of enterprise in an orderly and efficient management policies, safeguards the assets and secure as for as possible the completeness and accuracy of the records.
Has been defined as an independent appraisal activity within as organization for the review of operations as a service to management. It is a management controls which functions by measuring and evaluating the effectiveness of other controls.
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