Thesis Abstract

Abstract
Fraud remains a significant concern within the Nigerian commercial banking sector, posing threats to financial stability, customer trust, and overall economic development. This study aims to critically appraise the effectiveness of fraud control techniques employed by Nigerian commercial banks. The research methodology involves a mixed-methods approach, utilizing both quantitative data from financial reports and qualitative data from interviews with key stakeholders in the banking industry. The findings reveal that Nigerian commercial banks have implemented various fraud control techniques, including internal control systems, staff training, fraud detection software, and regulatory compliance measures. However, the study highlights several challenges faced by banks in effectively controlling fraud, such as inadequate resources, weak enforcement of regulations, and evolving fraud schemes. Furthermore, the research identifies the need for continuous monitoring and evaluation of existing fraud control mechanisms to adapt to changing fraud trends. The study also examines the role of technology in fraud prevention, emphasizing the importance of investing in advanced fraud detection tools and cybersecurity measures. Additionally, the research explores the impact of organizational culture and ethical leadership on fraud control within commercial banks. The findings suggest that a strong ethical culture, top management commitment to fraud prevention, and staff integrity are crucial factors in deterring fraudulent activities. Overall, this research contributes to the existing literature by providing a comprehensive assessment of fraud control techniques in Nigerian commercial banks. The study offers practical recommendations for banks to enhance their fraud prevention strategies, including regular risk assessments, staff training programs, and collaboration with regulatory authorities. By addressing the challenges and opportunities in fraud control, this research aims to assist banks in safeguarding their operations, protecting customer assets, and maintaining the integrity of the financial system.

Thesis Overview

INTRODUCTION

The bulk of fund required by the investing sector of most developed or developing business economic of the world is provided by the banking Industry in the main services of mobilizing fund from the saving that is surplus to the investing sector provided by the banking Industry, accounted for the high status the banking Industry is placed in the development of any economy, the rate of economic development of the nationals has hence very closely associated with the effectiveness and efficiency of the banking system of the nation.

Commercial banks as a case study of this research work provides service like acceptance of deposits, safe keeping of valuables, offering of pieces of advice like on investment credit creation and other business published in the gazette by the governor of central bank  designated to mean commercial banking business of all the components of the banking system, Incidence of fraud  occurrence, fraud is also found  in other spheres of life, in government and Industries. Special organisation have been formed to control this fraud.  Interlope tries to deal with it at the international level but it has not been rechecked to the barest minimum, neither has it been full eradicated.

The word fraud is a complex Universal phenomenon, it is rampant in both developed and developing countries and varies across time and placed in its magnitude, its effects on administrative, performance and development, political economical, social cultural and attitudinal factors combine in contributive and the extend beyond the boundaries of nation state.

Fraud is matter of individual choice and opportunity, being human, he is reasonably connived he can get always with it.