ABSTRACT
Detection and prevention of financial fraud in Nigeria banking system. The dictionary meaning of fraud by penny means unlawful act, unfair advantage such as deception to the deferment of another.
In banking system, financial fraud is also referred as a deliberate within or outside the banking system to cheat, deceive windle or manipulation in order to disposes the bank deposition or shareholders of their funds.
Banks deal essentially in cash and financial instrument and other document which are of negotiable or very transferable in nature. This makes the bank very vulnerable to internal and external fraud. Also fraud can be perpetrated in the banking transaction through falsification of entries in the account of customers with a view to take benefit of the excess proceed or the shortfall, other are forgery of signature of account holders to theft by bank and customers.
Here also, the research will identify the logs holes in banking procedures and way of filling it to examine managerial and governmental control device, geared forward eliminating financial fraud in the banking system.
Conclusively, my unalloyed gratitude I leave to the auditors of various books that I consulted.
