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THE ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) IN FRAUD DETECTION IN NIGERIAN BANKS

Banking And Finance Project Topics And Materials

THE ROLE OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) IN FRAUD DETECTION IN NIGERIAN BANKS.(A CASE STUDY OF FIRST BANK OF NIGERIA ENUGU)
ABSTRACT
This research work aims at determining the role of information and communication technology in detecting fraud in the Nigerian banking system. The banking institution which has integrity and trust as its hallmark has been exposed to various forms of fraud and various means employed in defrauding banks. Fraud derails the society’s integrity and value among the committee of nations and in effect, affects the level of trust. The banking sector has been the cornerstone of economic and financial mainstay of any nation, hence the need for study of the role and the effectiveness of information and communication technology in fraud detection in the banking industry. First Bank of Nigeria Pie, Enugu metropolis was used as a case study. The research work treated the causes of fraud in Nigerian banks, forms of bank frauds, Effects and consequences of fraud in first bank of Nigeria plc, the information and communication technology and fraud detection in banks and Fraud control measures in banks.
The methodology adopted in this study is the survey research design%. There were interactions with bank staff of various cadres with structured questionnaire to know their own opinion. 400 questionnaires were administered of which 320 were duly completed and returned. Some of the findings from the research work reveal that lack of staff motivation has an effect on the incidence of fraud in Nigerian banks. It also reveals that the introduction of ICT into the banking industry has reduced the incidence of fraud in Nigerian banks. Further findings reveal that the Nigerian banking laws are not adequate for fraud control in banks.
Based on the findings of this study, recommendations made are the adoption of computer aids as tool for fraud prevention and control; banks should employ highly sophisticated security gadgets in their banks, like surveillance TV systems, on —the-spot photographing of customers etc. Proper reviewing of laws relating to fraud should be encouraged and stern penalties that commensurate with any offence committed should be embarked on.
CONTENTS
Title page i
Certification ii
Dedication iii
Acknowledgements iv
Abstract v
Table of Contents vi
List of Tables ix
TABLE OF CONTENTS
CHAPTER ONE: INTRODUCTION
1.1 Background of Study 1
1.2 Statement of the Problem 4
1.3 Research Questions 6
1.4 Objectives of the Study 6
1.5 Research Hypothesis 7
1.6 Scope of the Study 7
1.7 Limitations of the Study 8
1.8 Significance of the Study 8
1.9 Overview of First Bank of Nigeria Plc 9
1.10 Definition of Terms 12
References 13
CHAPTER TWO
2.1 Literature Review 14
2.2 History of Information and Communication Technology . 15
2.2.1 Information and Communication Technology 17
2.3 Organization of the Bank 19
2.4 Definition of Fraud 21
2.5 Forms of Fraud 26
2.5.1 Other Types of Fraud 31
2.6 Causes of Fraud 32
2.6.1 Causes of Bank Fraud 33
2.6.2 Methods of Fraud Perpetration 38
2.7 Extent of Fraud In Banks 39
2.8 The Effects of Fraud in First Bank Of Nigeria 41
2.8.1 Implications of Fraud 42
2.9 .ICT and Fraud Detection 44
2.9.1 Achievement of ICT in Fraud Detection In Banks 46
2.9.2 Shortcomings of ICT in Fraud Detection In Banks 47
2.10 Fraud Control Measures in Banks 48
2.10.lOther Control Measures 54
References 55
CHAPTER THREE RESEARCH METHODOLOGY
3.1 Research Design 58
3.2 Sources of Data 59
3.3 Population of Study 61
3.4 Sample Size and Its Determination 61
3.5 Method of Data Collection 63
3.6 Reliability of Data 63
3.7 Validity of Data Collected 64
3.8 Method of Data Analysis 64
References 65
CHAPTER FOUR
4.1 Presentation and Interpretation of Data 67
4.2 Hypothesis Testing 74
CHAPTER FIVE: SUMMARY OF FINDINGS, RECOMMENDATIONS
AND CONCLUSION
5.1 Summary of Findings 83
5.2 Recommendations 84
5.3 Conclusion 86
Appendices 88
Bibliography 92

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