FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU MAIN

ABSTRACT

Fraud in this study is shown as any dishonesty acts intended to deceive and deprive someone of his legitimate possession.

This study was aimed at finding out how fraud could be detected and prevented in the Nigerian banking industries. The major findings in this study include the followings:

(a) Frauds in banks very often

(b) Frauds in banks occur with active connivance of internal bank staff.

(c) Frauds in banks include forgeries of signature of customers, illegal granting of loans and advances and illegal foreign exchange transactions etc.

(d) The major fraud prevention and protection measure adopted by banks were provision of operational manual establishment of inspectorate unit, internal audit units use external auditors, segregation of duties and establishment of good internal checks and control system.

(e) Majority of bank workers believes as follows. The punishments noted to fraudsters are grossly inadequate. The antifraud law in Nigeria is highly inadequate and that those responsible for checking frauds in Nigerian banks were not living up to expectations.

The major finds in this study includes among others.

(a) The establishment of a good salary structures and condition of services.

(b) A change in our value system that will de-emphasize money.

(d) Installation of good hiring and training policies and procedures that can go a long way to help reduce the incidence of fraud.

(e) Adequate punishment for fraudsters that could serve as a good deterrent to frauds in banking.

TABLE OF CONTENTS

Title page ii

Dedication iii

Acknowledgement iv

Abstract v

List of tables vi

Table of contents viii

CHAPTER ONE

Introduction 1

1.1 Background of study 1

1.2 Statement of problems 3

1.3 Objectives of study 3

1.4 Research questions and hypothesis 4

1.5 Scope of study 5

1.6 Significance of study 5

CHAPTER TWO

2.1 Concept of fraud 7

2.2 Types of fraud 8

2.3 Bodies responsible for detection and prevention of fraud 9

2.4 The role of bank managers in

detection and prevention of frauds 11

2.5 System of fraud prevention and detection 12

CHAPTER THREE

3.1 Design of study 14

3.2 Instrument for data collection 14

3.3 Population of study 15

3.4 Method of data collection 15

3.5 Method of data analysis 16

3.6 Validity / reliability of instrument 16

3.7 Collection of data 16

CHAPTER FOUR

4.1 Presentation and analysis of data 17

4.2 Hypothesis testing 24

CHAPTER FIVE

5.1 Summary of finding 27

5.2 Conclusion 28

5.3 Recommendations 29

5.4 Suggestion for further study 31

5.5 Limitation of study 31

Reference 32

Appendix 33

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APA

T0gOSTL5c0005cdc49c47.77861884, Q. (2018). FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU MAIN. Afribary. Retrieved from https://beta.afribary.com/works/fraud-detection-and-prevention-in-banks-a-case-study-of-first-bank-of-nigeria-plc-enugu-main-2241

MLA 8th

T0gOSTL5c0005cdc49c47.77861884, QQXlA1z5c0005cdbe9d75.44641593 "FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU MAIN" Afribary. Afribary, 29 Jan. 2018, https://beta.afribary.com/works/fraud-detection-and-prevention-in-banks-a-case-study-of-first-bank-of-nigeria-plc-enugu-main-2241. Accessed 25 Apr. 2025.

MLA7

T0gOSTL5c0005cdc49c47.77861884, QQXlA1z5c0005cdbe9d75.44641593 . "FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU MAIN". Afribary, Afribary, 29 Jan. 2018. Web. 25 Apr. 2025. < https://beta.afribary.com/works/fraud-detection-and-prevention-in-banks-a-case-study-of-first-bank-of-nigeria-plc-enugu-main-2241 >.

Chicago

T0gOSTL5c0005cdc49c47.77861884, QQXlA1z5c0005cdbe9d75.44641593 . "FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU MAIN" Afribary (2018). Accessed April 25, 2025. https://beta.afribary.com/works/fraud-detection-and-prevention-in-banks-a-case-study-of-first-bank-of-nigeria-plc-enugu-main-2241

FRAUD DETECTION AND PREVENTION IN BANKS A CASE STUDY OF FIRST BANK OF NIGERIA PLC ENUGU MAIN

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