INTER-COLLEGIATE AVISHKAR RESEARCH CONVENTION 2018-19

Code No:
Category : 02 LEVEL : UG
INTRODUCTION Abstract
Banking frauds constitute conscious Banks are the engine that drive operations in the financial sector. With the
misrepresentation obtaining possession money rapidly growth of banking industry, frauds in banks are also increasing very fast,
or other property which is owned or held by a and fraudsters have started using innovative ideas. Internal audit professionals
financial institution or depositors by using those
should pay an integral role in there organizations fraud fighting efforts. This
means which are against the law.
Bank fraud keeps the management of banks research studies the causes and impact of frauds from the perspective of
alert and cause them to waste resources and banking industry. It also recommends the measures to prevent the frauds.
energies on fraud prevention and detection
RBI has been circulating to banks, the details
frauds of an ingenious nature not reported Research Methodology Recommendations
 Research design: The research design employed in this study was a
earlier so that banks could introduce necessary
descriptive research in form of a survey, interview and questionnaire Account holders review
safeguards by way of appropriate procedure Sample size: the sample size will be focused on 20 respondents within the Proper verification of document
and internal check given area multi-layer security structure
Data collection methods: the data is collected by interview and Strict supervision of RBI
questionnaire
Data analysis: data analysis was carried out in order to inspect, clean,
RBI guidelines:
Objectives of the study transform and model data with the aim of identifying and highlighting useful
 To study the cause and impact of information that can used to support the decision making process
 The CMD/CEOs of banks must provide
frauds on banking sector focus on the fraud prevention and
 To recommend preventive measures management functions to enable
CAUSE
to control the frauds in the banking Fraudulent documentation involves altering, changing or effective investigation of frauds
sector modifying a document to deceive the bank.  The fraud risk management fraud
r monitoring and fraud investigation
Advanced related fraud like diversion of funds, overvaluation function must be owned by banks
or absence of requisite co-laterals. CEOs
 Bank with approval of their respective
SUGGESTION
Technological related fraud involve hacking ,phishing, board shall frame internal policy for
pharming and smishing. fraud risk management and fraud
Eternal vigilance of the bank as well as The frauds and for Forgery involve professional workers who are investigation based on the
customer thoroughly conversant with the banking systems and governance standard
procedures and who seeks to enlist the support and
cooperation of the dishonest member of the bank staff.
References:
Monetary system and RBI Should be out of EFFECTS
the political pressure Erodes public confidence Slideshare.
banking systems net/urvi
There is proper functioning of bank internal Diminishing the Academia. Articlesng.
profitability of bank and edu com
of verification of document at the time of thus reduces firm value.
approving loan bank should follow strict
guideline of RBI before disbursing loan Depletion of stakeholder
and bank capital base Metro.co.u Grossarchi
k ve.com
Bank security level must be improved for Dismissal and Myproject.
net banking like ATM, debit and credit card retrenchment of staff com.ng