CRITICAL ANALYSIS OF BANK FRAUD AND MALPRACTICE

Frauds and Malpractice are gradually becoming rampant and a daily occurrences in our banking industry while the bank management are busy working out means of detecting, checking frauds and malpractice, the frauders on the other end are busy designing new methods of circumventing those measures in conjunction with some dishonest bank staff. It should be pointed out that the effect destabilizes banks not only that, hinders growth of banks and attaining their aims and objectives or goals. Hence we have good number of distressed banks now in our country. The menance ranges from falsification of entries, forgery of signatures of account holders, spurious letter of credit, theft and bank cashiers and outsiders, telex fraud to mention but a few. The objectives of this research work is therefore to carryout survey and investigation on the major causes of frauds and malpractices in the banking industry with reference to Afribank (Plc), Union Bank (Plc), and the UBA (Plc) in Enugu zone. The project also evaluated various forms of fraud and malpractice that can be existence, relating to this project in examining the problems, the researcher used both primary and secondary data. In conclusion, the researcher believes that this study has some how achieved its predetermined aims and objectives by identifying various ways by which frauds and malpractice will be reduced if not prevented or even put to a stop by analyzing possible frauds and malpractice and possible ways of preventing them. Finally, this report is primary a prelude to the student undertaking similar works in related discipline as the writer due to the constraints encountered could not go beyond this scope. This project finally worked out ways of preventing or reducing the above problems.