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  3. Fraud In The Banking Industry.

Fraud In The Banking Industry.

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BACKGROUND OF THE STUDY:-
With an award match to becoming an industrialized Nation, Nigeria is witnessing as professional, which made the possible establishment of service industries and other business organisation.  This belief was rather so strong that the urge to provide financial services can no longer be overlooked.  To accelerate economic growth and economic development both government and some organised private were issued licenses to operate banks.  In addition to a few banks were already into business to operate systematic financial service.
Those banks employed young men and women, but like every aspects of human enadavour have their challenges one of the major challenges facing the banking industries and indeed is the incidence of fraud lackery (2001) observed that the incidence of fraud in the banking industry has in the recent past posed a very serious threat to the very existence of financial  institution and is a matter of serious concern tot he regulatory authorize and internal control measures to check the activities of fraudters fraud in the banks to be in incrase.  Edozie as observed by Adebayo (200215) stated that available statistics reveals that thirsty one banks reported that they experienced fraud and forgery cases for the period of (Tannary-March 2002).
Banks are institution known to operate on the center pin of public confidence.  Today that concept no longer holds as bankers themselves either initiate frauds our partake deeply to fraudulent activities against their banks (employs).
LITERATURE REVIEW 
INTRODUCTION:
Every economy whether simple or complex, developed has a system for mobilizing and channeling its financial  resources for further development.  Banking has been one of the words most persistent concern in the regard of its potent force in shaping the economy.
For centuries, banking has become a vital engine of growth for the world economy.  That is to say, banking is enabling many communities in all part of the globe to address economic challenges with great efficiency and imagination.
In Nigeria, the banking system has witnessed a chain of distressed banks in 1980’s and 1990’s with multiplier effects on the economy.  Various and varied factors, as cited by Ornakpore (1994.23) were the causes of banks fails was ranging from unstable economic environment of lack of technically skilled personnel, poor management, over trading and inadequate capitalization have also been cited.  However, the conventional opinion is that, by far, the most important factor is fraud in banks and economic agencies robbing the economy of opportunities for foreign direct investment and even local investment.

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(2014, 10). Fraud In The Banking Industry... ProjectStoc.com. Retrieved 10, 2014, from https://projectstoc.com/read/3831/fraud-in-the-banking-industry-1921
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