Bank deals mostly with cash, financial instrument, which are generally of a negotiable and easily transferable nature. Hence, it is very imperative to say that the exposure of banks to both internal and external fraud is very great. This practice is always common to areas involving cash cheques and fraud transfer operations.

Much research and thought are increasingly being directed towards the study of the careers of fraud in banks because of its effects in banking and the entire economy.

In the past, study carried out by financial institutions training center Lagos, showed that causes of fraud reported annually between 1996 – 2000 was about 500 and annual average money involved in attempted fraud was N33 million.

Chapter one of this work deals with the introduction of what is all about. Chapter two of this work also deals with the analysis of financial fraud examining the methods used by fraudsters in defrauding the banking industries. It established that falsification of accounts and forged cheques and signatures ranked highest of the most perpetrated fraud.

An examination of categories of persons involved on the perpetration of fraud reveals that bank staffs are the majority.

Government should raise an eyebrow and at the same time endeavour to eradicate the end for instance the CBN act of 1958. Banking act of 1969 and law of forgeries with their subsequent amendment’s authentic to constitute adequate ways of eliminating fraud.

For instance, s. 29 of 1669 banking act stipulates, “any director of employee of a licensed bank or other person receiving remuneration from such licensed bank or ask or agree to receive any gift, commission, enrolment service, gratuity, money properly or things of value for his/her personal benefits or advantage or to that of any of higher relation from any person other than, from the bank for permitting any to withdraw any account will be guilty of offence and shall be liable for imprisonment not exceeding 3 years or fine of not more than N2, 000.

Moreover, government has to ensure that police and legal authorities are very seines in the discharging of their duties and ensure that fraudsters are given adequate punishment.

Finally, banks should endeavour to go into computer system to ensure that the incidence of fraud is eliminated.

 

Title page

Approval page

Dedication

Acknowledgement

Abstract

Table of content

1.0 Introduction

1.1 Background of study

1.2 Statement of problem

1.3 Significance of the study

1.4 Scope and limitation of the study

2.0 Literature review 

2.1 Who are bank fraudsters

2.2 Types of fraud

2.3 Fraud and fraudulent practice and banking services

2.4 The legal frame-work and fraudulent practices 

2.5 Reported cases of fraud (1996 – 2000)

2.6 Causes of fraud

2.7 Detection of fraud

2.8 Elimination, prevention and control of fraud

3.0 Research design and methodology

3.1 Sources of secondary data

3.2 Method of data collection

3.3 Location of data

SUMMARY OF FINDINGS

5.0 Conclusion and recommendation

5.1 Conclusion

5.2 Recommendation