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An Empirical Study Of Frauds In The Banks
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Book Synopsis An Empirical Study of Frauds in the Banks by : Madan Lal Bhasin
Download or read book An Empirical Study of Frauds in the Banks written by Madan Lal Bhasin and published by . This book was released on 2016 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banks are the engines that drive the operations in the financial sector, money markets and growth of an economy. With the rapidly growing banking industry in India, frauds in banks are also increasing very fast, and fraudsters have started using innovative methods. As part of the study, a questionnaire-based survey was conducted in 2012-13 among 345 bank employees “to know their perception towards bank frauds and evaluate the factors that influence the degree of their compliance level.” The study revealed that there are poor employment practices and lack of effective training; over-burdened staff, weak internal control systems, and low compliance levels on the part of Bank Managers, Offices and Clerks.Although banks cannot be 100% secure against unknown threats, a certain level of preparedness can go a long way in countering fraud risk. Internal audit professionals should play an integral role in their organization's fraud-fighting efforts. Some of other promising steps to control frauds are: educate customers about fraud prevention, make application of laws more stringent, leverage the power of data analysis technologies, follow fraud mitigation best practices, and employ multipoint scrutiny. In 2015, the RBI has introduced new mechanisms for banks to check loan frauds by taking pro-active steps by setting up a Central Fraud Registry, introduced the concept of Red Flagged Account, and Indian investigative agencies (CBI, CEIB) will soon start sharing their databases with banks.
Book Synopsis Menace of Frauds in the Indian Banking Industry by : Madan Lal Bhasin
Download or read book Menace of Frauds in the Indian Banking Industry written by Madan Lal Bhasin and published by . This book was released on 2015 with total page 13 pages. Available in PDF, EPUB and Kindle. Book excerpt: Banks are the engines that drive the operations in the financial sector and growth of an economy. With the growing banking industry in India, frauds in Banks are also increasing and fraudsters are becoming more sophisticated and ingenious. While it is not possible for Banks to operate in a zero fraud environment, proactive steps such as conducting risk assessments of procedures and policies can help them hedge their risk of contingent losses due to fraud. Thus, time has come when the security aspects of the Banks have to be dealt with on a priority basis. As part of the study, a questionnaire-based survey was conducted in 2012-13 among 345 Bank employees "to know their perception towards bank frauds and evaluate the factors that influence the degree of their compliance level." This study reveals that "there are poor employment practices and lack of effective employee training; usually over-burdened staff, weak internal control systems, and low compliance levels on the part of Bank Managers, Offices and Clerks." However, technology can play a major part in combating new-age frauds: proactive forensic data analysis and data mining techniques can help governments, regulatory bodies and Banks to counter the increasingly complex nature of frauds.
Download or read book Bank Frauds written by Vincent Ovuakporie and published by . This book was released on 1994 with total page 92 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis An Empirical Investigation of the Computerised Accounting Information Systems Frauds in Licensed Banks in Sri Lanka by : Kennedy Gunawardana
Download or read book An Empirical Investigation of the Computerised Accounting Information Systems Frauds in Licensed Banks in Sri Lanka written by Kennedy Gunawardana and published by . This book was released on 2017 with total page 21 pages. Available in PDF, EPUB and Kindle. Book excerpt: The objective of this paper is to investigate the trends in frauds of computerised accounting information systems in Sri Lankan licensed banks. Sri Lankan licensed banking sector which is the most feasible service industry contributing enormously to the growth of the country. Security controls of Computerise accounting information system in the corporate sector is taken into consideration as this is currently a growing trend around the world. The core objective is to identify the frauds in the computerised accounting information systems in licensed banks in Sri Lanka.Critical reviews of past literature indicate a clear cut connection between fraud deductions in CAIS through security control systems. In order to find out the applicability of this relationship Sri Lanka, research will be undertaken in licence banks in Colombo region. The report consists secondary data which facilitate to achieve the aforementioned objectives. Secondary data analysis the existing computerized frauds in licensed banks as well as existing security control systems in licensed bank in Sri Lanka. However in secondary data analysis it clearly illustrate the computerized accounting frauds have been increased drastically. So licensed banks should have to implement the more security control systems to overcome those problems.
Book Synopsis Effect of Electronic Banking Related Fraud on Deposit Money Banks Financial Performance in Nigeria by : Adaora Immaculata Muoghalu
Download or read book Effect of Electronic Banking Related Fraud on Deposit Money Banks Financial Performance in Nigeria written by Adaora Immaculata Muoghalu and published by . This book was released on 2019 with total page 8 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study empirically ascertained the effect of electronic banking related fraud on deposit money banks financial performance in Nigeria. Empirical studies relating electronic banking and banks performance in Nigeria has been centred on its benefit of improving profitability of deposit money banks while the effect of fraud perpetrated on electronic banking platforms used by banks operating in the economy are often neglected. Specifically, we examined the effect of electronic banking related fraud on automated teller machines, mobile banking, point of sale terminals and web to return on assets, return on equity, interest income and non-interest income of deposit money banks. Comprehensive data on fraud on the various electronic banking channels from the apex regulatory agency of the banking system: Central Bank of Nigeria began in 2013 thus limiting the study to a period of four years. The Ordinary Least Square (OLS) was applied in estimating the regression equation, whereas effect of fraud on various channels of electronic banking and financial performance ascertained with the help of the granger causality analysis. The findings from the study dispelled that fraud on point of sale terminals has significant negative effect on interest income, while fraud on automated teller machines, mobile banking and web had no effect on return on assets, return on equity and non-interest income of banks. we suggested that there is need for deposit money banks to further authenticate transactions on point of sale terminal by sending confirmation code to mobile number linked to the account to affirm that the transaction was initiated the original cardholder.
Book Synopsis Does Deposit Insurance Increase Banking System Stability? by : Asl? Demirgüç-Kunt
Download or read book Does Deposit Insurance Increase Banking System Stability? written by Asl? Demirgüç-Kunt and published by World Bank Publications. This book was released on 1999 with total page 42 pages. Available in PDF, EPUB and Kindle. Book excerpt: "Explicit deposit insurance tends to be detrimental to bank stability-- the more so where bank interest rates are deregulated and the institutional environment is weak"--Cover.
Book Synopsis International Financial Reporting Standards: An Empirical Study in India by : Sonika Suman
Download or read book International Financial Reporting Standards: An Empirical Study in India written by Sonika Suman and published by GRIN Verlag. This book was released on 2023-01-16 with total page 344 pages. Available in PDF, EPUB and Kindle. Book excerpt: Doctoral Thesis / Dissertation from the year 2022 in the subject Economics - Finance, grade: 100, , language: English, abstract: This study brings to light the essential need for implementing the International Financial Reporting Standards (IFRS) in Indian Banking Sector to create a robust banking leading to an enhanced economy. While it is estimated that for creating 5 trillion economy which is the target of the Government of India, an economic growth rate of 8 percent is considered necessary. Implementation of IFRS in the Banking Sector of India can empower the commercial banks through greater transparency and reduced Non-Performing Assets. This in turn can help expand commercial banking in India. While trust in the banking sector is essential and is encouraged by the authorities of the Reserve Bank of India, the recent judgment of the High Courts in India made it clear that the money deposited by the Depositors is completely returnable by the banks through the contract of business. This will turn on pressure on the commercial banks to run the banking business effectively and efficiently, and adopting and implementing the IFRS will be in their interests to run the business transparently. This research has pointed out the necessary parameters and variables to be considered as important by the commercial banks. These variables have been identified as important for a Group Recommender System by calculating the Principal Component Analysis (A Group Recommender System can also use the Singular Value Decomposition (SVD), which is a classical method derived from linear algebra, in this research, it was preferred to work out the PCA, the Principal Component Analysis). Thus, this research is a forerunner for further focused studies that can be expanded in the Indian economy for better and greater insights for the project preparedness of the implementation of IFRS.
Download or read book The Fight Against Fraud written by and published by . This book was released on 2004 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Contemporary Issues in Audit Management and Forensic Accounting by : Simon Grima
Download or read book Contemporary Issues in Audit Management and Forensic Accounting written by Simon Grima and published by Emerald Group Publishing. This book was released on 2020-02-10 with total page 487 pages. Available in PDF, EPUB and Kindle. Book excerpt: In the 18 chapters in this volume of Contemporary Studies in Economic and Financial Analysis, expert contributors gather together to examine the extent and characteristics of forensic accounting, a field which has been practiced for many years, but is still not internationally regulated yet.
Book Synopsis Corporate Governance in Banking and Other Financial Institutions by : Mazi Okechukwu C. K. Unegbu
Download or read book Corporate Governance in Banking and Other Financial Institutions written by Mazi Okechukwu C. K. Unegbu and published by . This book was released on 2004* with total page 440 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis International Professional Practices Framework (IPPF). by :
Download or read book International Professional Practices Framework (IPPF). written by and published by . This book was released on 2013 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Big Money Crime written by Kitty Calavita and published by Univ of California Press. This book was released on 1999-05-25 with total page 284 pages. Available in PDF, EPUB and Kindle. Book excerpt: An in-depth scrutiny into the American savings and loan financial crisis in the 1980s. The authors come to conclusions about the deliberate nature of this financial fraud and the leniency of the criminal justice system on these 'Gucci-clad white-collar criminals'.
Book Synopsis The World Bank Research Observer by :
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-Ups and Sustainability (ICRBSS 2023) by : Meena Rani Nimmagadda
Download or read book Proceedings of the 3rd International Conference on Reinventing Business Practices, Start-Ups and Sustainability (ICRBSS 2023) written by Meena Rani Nimmagadda and published by Springer Nature. This book was released on 2024 with total page 1000 pages. Available in PDF, EPUB and Kindle. Book excerpt: Zusammenfassung: This is an open access book. About the ICRBSS-2023 International Conference on Reinventing Business Practices, Start-ups, and Sustainability-Responsible Consumption and Production- ICRBSS 2023 brings together scholars, researchers, educators, and professionals from around the world to discuss the latest trends, challenges, and opportunities in the spheres of businesses, regulatory environment, consumer groups, advocacy agencies and the environment at large. The sub-theme of the conference this year- Responsible Consumption and Production is the 12th goal of the UN Sustainable Development Goals. The conference provides a platform for industry experts, policymakers, and the academic fraternity to share their experiences and insights. The sessions are designed to promote interaction among participants through keynote speaker sessions, panel discussions, presentations, and the like
Book Synopsis Corruption and Fraud in Financial Markets by : Carol Alexander
Download or read book Corruption and Fraud in Financial Markets written by Carol Alexander and published by John Wiley & Sons. This book was released on 2020-06-22 with total page 624 pages. Available in PDF, EPUB and Kindle. Book excerpt: Identifying malpractice and misconduct should be top priority for financial risk managers today Corruption and Fraud in Financial Markets identifies potential issues surrounding all types of fraud, misconduct, price/volume manipulation and other forms of malpractice. Chapters cover detection, prevention and regulation of corruption and fraud within different financial markets. Written by experts at the forefront of finance and risk management, this book details the many practices that bring potentially devastating consequences, including insider trading, bribery, false disclosure, frontrunning, options backdating, and improper execution or broker-agency relationships. Informed but corrupt traders manipulate prices in dark pools run by investment banks, using anonymous deals to move prices in their own favour, extracting value from ordinary investors time and time again. Strategies such as wash, ladder and spoofing trades are rife, even on regulated exchanges – and in unregulated cryptocurrency exchanges one can even see these manipulative quotes happening real-time in the limit order book. More generally, financial market misconduct and fraud affects about 15 percent of publicly listed companies each year and the resulting fines can devastate an organisation's budget and initiate a tailspin from which it may never recover. This book gives you a deeper understanding of all these issues to help prevent you and your company from falling victim to unethical practices. Learn about the different types of corruption and fraud and where they may be hiding in your organisation Identify improper relationships and conflicts of interest before they become a problem Understand the regulations surrounding market misconduct, and how they affect your firm Prevent budget-breaking fines and other potentially catastrophic consequences Since the LIBOR scandal, many major banks have been fined billions of dollars for manipulation of prices, exchange rates and interest rates. Headline cases aside, misconduct and fraud is uncomfortably prevalent in a large number of financial firms; it can exist in a wide variety of forms, with practices in multiple departments, making self-governance complex. Corruption and Fraud in Financial Markets is a comprehensive guide to identifying and stopping potential problems before they reach the level of finable misconduct.
Book Synopsis Theory and Practice of Illegitimate Finance by : Rafay, Abdul
Download or read book Theory and Practice of Illegitimate Finance written by Rafay, Abdul and published by IGI Global. This book was released on 2023-09-14 with total page 414 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's interconnected world, fraud and corruption threaten the integrity of global financial systems, making illicit and illegitimate finance a pressing concern across industries. Editor Abdul Rafay, an esteemed academic scholar in financial crimes, corporate finance, and financial technology, offers the definitive solution to the Theory and Practice of Illegitimate Finance. This premier reference work comprehensively explores all facets of illicit finance, providing invaluable insights and real-world case studies on financial crimes, money laundering, tax evasion, and fraudulent practices. Through meticulous research and analysis, the book equips business owners, policymakers, researchers, and industry professionals with strategies to combat and prevent illicit finance from infiltrating financial institutions and businesses. As an indispensable resource for academicians and students, Theory and Practice of Illegitimate Finance empowers readers to tackle the complexities of illicit finance. Abdul Rafay's unparalleled expertise, evident from his successful editing of previous books and numerous research papers, enhances the book's credibility. By embracing the transformative journey offered by the book's insights, readers from all walks of life can contribute to a more transparent and accountable financial world, ensuring the integrity of global finance systems and paving the way for a brighter and more secure future.
Book Synopsis Bank frauds : prevention & detection, including computer & credit cards crimes by : Bhagat Ram Sharma
Download or read book Bank frauds : prevention & detection, including computer & credit cards crimes written by Bhagat Ram Sharma and published by . This book was released on 2009 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: In Indian context.
