EFFECTS IF FRAUD IN THE BANKING INDUSTRY (A CASE STUDY OF UNION BANK NIG. PLC)
EFFECTS IF FRAUD IN THE BANKING INDUSTRY (A CASE STUDY OF UNION BANK NIG. PLC)
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Date
2005-10
Authors
UMARU, ISMAILA ALINBASHARI
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Abstract
Financial malpractices in the banking industry simply refer to all forms of ill
practices perpetrated in the banking by the staff or outsiders. Such acts are
fraudulent which erode the capital base of the affected banks and no bank for
now is safe from it only that the magnitude in some cases is mi8nimal
compared to others. Due to diverse effects of these fraudulent acts, various
forms of checks are instituted and penalties noted out to offenders. The
activities of the banks tribunals is a clear instance of such measures.
In getting facts for this study, lots of works done on related topics are studied
and various journals are used that have authoritative information on the subject .
The journals consulted are mostly that of banks, supervisory authorities and in
some cases view if bank staff are sought on issues that need clarification.
Fraudulent practices are perpetrated in all sections of any economy, no
government will be sitting idle watching its economy crumble via fraud.
Measures are put in place to check this act but this could only minimize it if it is
as well implemented.
Government’s contribution in checking the malpractices in banks is in the
provision of laws and institutions with responsibility of monitoring this
financial institution. The banking institution themselves are much in the war
against these malpractices to save the institutions from collapse.
In conclusion, large amounts of money are being lost by the banks through
fraud. It is recommended that though there exist laws and checks against this
malpractices, such laws should be enforced in its strict form and reviewed
regularly to avoid certain loopholes that would be taken advantage of.
Description
BEING A PROJECT SUBMITTED TO THE POSTGRADUATE SCHOOL
IN PARTIAL FULFILMENT OF THE REQUIREMENTS FOR THE
AWARD OF THE DEGREE OF MASTER OF BUSINESS
ADMINISTRATION (MBA)
DEPARTMENT OF BUSINESS ADMINISTRATION
FACULTY OF ADMINISTRATION
AHMADU BELLO UNIVERSITY
ZARIA
Keywords
EFFECTS,, FRAUD,, BANKING,, INDUSTRY,, UNION BANK