Banking in Nigeria

INTRODUCTION 1.There is a genuine fear that the increasing wave of affirm impostor is causing a lot of havoc in our financial system. This is because the bank fraud has eaten deed into every looking at of the banking system to the extent that many banks have lost the federal agency of their customers. 2.Fraud preventions ar rules and regulations that have been developed to guide bank supply in their operations. It is assumed that if these rules are strictly followed, the chances of falling flow of fraudsters could be minimized. 3.It is very difficult to trace the origin of fraud. hitherto in the cause of fraud perpetrations, Andrew (1990) defines that any minor defect by an unmarried which is not detected in clock time or at all makes such an individual to infer that the success of such errs may be taken usefulness of and many proceed to enact more mistakes. This time, deliberate mistake is made and is successful. The individual takes benefit of it for selfish end. He refers to this behavior as fraud, since it is now a deliberate action aimed at dishonestly enriching the individual. The next logical step for such an individual is definitely to continue wagh such errors until he eventually graduates to a hardened fraudster. 4.Frauds in banks vary widely in nature, subject and methods of operation.

In general, fraud perpetrators, using different methods of fraud perpetration, washstand commit bank fraud. On the basis of perpetrators, bank fraud may be categorized into three groups: Internal fraud immaterial fraud Mixed fraud. Internal perpetrators of fraud relate to members of staff turn external fraudsters are persons not connected with the bank. Mixed frauds are committed by outsiders in collusion with staff. Shongotola (1994) cautions that the Nigerian banking attention has become not jus a battle front wit ha clear-cut firing line between banks and the fraudsters nevertheless a valuable mine-field in which some banks and their top vigilance staff are in... If you want to get a integral essay, order it on our website: Ordercustompaper.com

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