Fraud and Fraudulent Practices in Nigeria Banking Industry

Abstract

The paper reviews the various forms of fraudulent practice their impact and inducement for various reforms in banking industry. It also mentions various legislations targeted at reducing fraud and introducing some forms of control and reporting systems. Various theories of fraud are examined and detailed analysis of various causes, prevention and control strategies were emphasized. Previous experiences of different types of fraud and employees involvement are analyzed using tables and percentages for elusive description and discussion. The paper is concluded by with the recommendations targeting at reducing fraud and forgeries in the Nigerian
banking industry.

Key Words: Fraud, Bank Failure, Forgeries and Embezzlement