MANAGEMENT OF FRAUDS IN NIGERIAN COMMERCIAL BANKS

MANAGEMENT OF FRAUDS IN NIGERIAN COMMERCIAL BANKS

Abstract

The research is on the management of fraud in Nigeria Commercial Banks. The main objective of the study is to identify the causes of fraud in commercial banks. The researcher analyzed the data collected based on the response from the questionnaires distributed

The major findings of the study are:

1. The causes of frauds in commercial bank includes

1. Poor management and poor security arrangement

2. Inadequate staff training

3. Various types of commercial bank fraud include:

4. Credit fraud

5. Fraud check

6. Sophisticated Fraud. Based on the above findings, this study concludes that fraud control in commercial banks is of great importance, giving bank customers confidence that their money is safe, encouraging local or foreign investors to It concludes that there are many benefits such as attracting Based on the results, we recommend the following:

7. The government should establish more anti-fraud and anti-corruption agencies to help clean up Nigeria’s banking system.

8. Bank management should implement strategies to ensure early and prompt detection, prevention and control of fraud in commercial banks.