FRAUD PREVENTION AND CONTROL IN COMMERCIAL BANKS: A CASE STUDY OF FIRST BANK NIGERIA PLC, ZARIA BRANCH
FRAUD PREVENTION AND CONTROL IN COMMERCIAL BANKS: A CASE STUDY OF FIRST BANK NIGERIA PLC, ZARIA BRANCH
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Date
1999-10
Authors
EL-NAFATY, Arabi Ahmed
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Abstract
ABSTRACT
Much thought and research are increasingly being directed at the
study of fraud prevention and control as the rate of its perpetration is on the
increase. Fraud in commercial banks is as old as the industry itself. The
research carried out delved into salient issues on types of fraud, causes of
fraud and the effectiveness of fraud preventive measures.
The major causes of frauds in commercial banks include social and
economic conditions, misplaced social values, insufficient internal control
system and lack of corporate culture against fraud.
Preventive measures range from greater supervision of staff, proper
training and rotation of staff, prompt prosecution of Fraudsters amongst
others.
The study and the findings therein, have provided some useful
recommendations which include; surveillance over long serving officers in
entrusted positions by management, thorough effective checks and balance
system, management information system and review procedures.
The incidence of fraud in commercial banks can only be minimized
once there obtains a greater sense of discipline, accountability and
patriotism within the wider Nigerian society.
Description
DEPARTMENT OF BUSINESS ADMINISTRATION,
AHMADU BELLO UNIVERSITY,
ZARIA.
Keywords
FRAUDS,, PREVENTION,, CONTROL,, COMMERCIAL,, BANKS,, CASE,, STUDY,, FIRST,, BANK,, NIGERIA, ZARIA BRANCH.