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Bank Fraud and Preventive Measures in Nigeria: An Empirical Review

Author

Listed:
  • Enofe A.O.
  • Abilogun T.O.
  • Omoolorun A.J.
  • Elaiho E.M.

Abstract

This study examines the measures for fraud prevention in banking industry. Primary data were used for this study. This study was carried out by collecting data from 15 quoted commercial banks in Nigeria as at 31st December, 2015. The study utilized ordinary least square regression model. It was observed that strong internal control system, good corporate governance and compliance with banking ethics have positive and significant influence on fraud prevention in banking industry. This indicates that a commitment in the implementation of the variables of this study will reduce fraud, errors and misappropriations in the banking sector. The study recommended that banking institutions should establish and ensure effective and strict implementation of all these variables which is strong enough to prevent fraud, errors and misappropriations.

Suggested Citation

  • Enofe A.O. & Abilogun T.O. & Omoolorun A.J. & Elaiho E.M., 2017. "Bank Fraud and Preventive Measures in Nigeria: An Empirical Review," International Journal of Academic Research in Business and Social Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Business and Social Sciences, vol. 7(7), pages 40-51, July.
    • Handle: RePEc:hur:ijarbs:v:7:y:2017:i:7:p:40-51
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    References listed on IDEAS

    as
    1. Anderson, Don & Francis, Jere R. & Stokes, Donald J., 1993. "Auditing, directorships and the demand for monitoring," Journal of Accounting and Public Policy, Elsevier, vol. 12(4), pages 353-375.
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    Cited by:

    1. Kanu Success Ikechi & Nwadiubu Anthony, 2020. "Fraud Theories and White Collar Crimes: Lessons for the Nigerian Banking Industry," International Journal of Management Science and Business Administration, Inovatus Services Ltd., vol. 6(6), pages 25-40, September.
    2. V.U. Imagbe & T.O. Abiloro & G.A. Saheed, 2019. "Fraud Diamond and Financial Crimes in Nigerian Banking Industries," International Journal of Academic Research in Accounting, Finance and Management Sciences, Human Resource Management Academic Research Society, International Journal of Academic Research in Accounting, Finance and Management Sciences, vol. 9(4), pages 294-303, October.

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