Bank Fraud And Malpractice: Sources, Forms And Causes

BANK FRAUD AND MALPRACTICE: SOURCES, FORMS AND CAUSES

TABLE OF CONTENTS

TITLE PAGE

APPROVAL PAGE

DEDICATION

ACKNOWLEDGEMENT

TABLE OF CONTENT

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF STUDY

1.2     STATEMENT OF PROBLEM

1.3     SCOPE, LIMITATION OF STUDY

1.4     OBJECTIVE OF STUDY

1.5     SIGNIFICANT OF STUDY

1.6     DEFINITION OF THE TERMS

CHAPTER TWO

2.0     LITERATURE REVIEW

2.1     WHAT IS FRAUD AND MALPRACTICE

2.2     SORUCES, FORMS AND CAUSES

2.3     THE EFFECT OF BANK FRAUD AND MALPRACTIVE

CHAPTER THREE

3.0     SUMMARY OF FINDINGS

3.1     CONCLUSIONS

3.2     RECOMMENDATION

          REFERENCES

CHAPTER ONE

1.0            INTRODUCTION

1.1     BACKGROUND OF THE STUDY

          Banking activities in Nigeria date back to the free wanting between 1895 when the first bank, the African banking corporation where enacted in Nigeria.

          In the free-banking period (1892 – 1952) there were no banking acts neither were there any ordinances to regulate the establishment and operation of commercial banks in Nigeria, many bank were registered some of which did not mean business while others simply collected customers deposits and vanished.  This derailed the economy of valuable funds needed for development and individuals of their herd earned funds.  This also brought about loss of faith and trust in the commercial banks by Nigerians.

          However, even with the introduction of the first banking ordinance in 1952 and the Central Bank of Nigeria (CBN) ordinance in 1958 to regulate and control the activities of commercial and merchant banks in the country, fraud and malpractice have increased in size and the method used required greater sophistication by the day.

          Fraud in our banks invoices summary techniques or forms such as: forgeries of bank instruments like: drafts, cheque, vouchers, letter of authority, falsification of accounts and records and cash fraud, from past records the assumptions is that dishonest or misappropriation or rather fraud in which ever form, succeed only with the aid of bank employees who conceives with disguised customers wearing innocent faces inefficiency and negligence in terms of leadership or supervisory roles on the part of the bank officials constitute yet another handicap through which dishonesty, fraud perse prevail or succeed in our banks.  This can manifest as prescribed by the industry.

          Presently, with the instruction of modern banking proceeding improved communication system, automotive electric gadgets and computers into banking industry, frauds have rather gone nuclear dimension