Analysis of the Causes and Measures of Curbing Fraud in the Banking Sector

It is important to first gain an understanding of the various types of fraud, in order to aid understanding in regards to the prevention of fraudulent activity. This paper begins with a review of the definition of financial fraud, and identification of the different fraud types. Further, included is an examination of what motivates individuals to commit fraud, including an identification of some of the method in which people commit fraud. A discussion of the importance of the fraud triangle, and how rationalization contributes to fraud is a key area of focus. Finally, there is an examination of some controls that prevent and detect fraudulent behavior, including the value and importance of understanding the nature of fraud for

Fraud deterrence occurs in several stages, and the key is to know that prevention is not to same as deterrence. First is the impact of controls

Fraudulent schemes are often ongoing crimes that can last for months or even years before detection. It has been identified that there are three factors that often combine to lead individuals to commit fraud: pressure or an incentive to engage in fraud, a perceived opportunity and the ability to rationalize fraudulent behavior. Because fraudulent activities are usually well planned and intentionally covered up, it is difficult for the auditor to detect these incidents. Although fraud does not happen as often as misuse and error, when it does occur, it negatively impacts organizations as well as the stakeholders. Most fraudulent schemes can be avoided with basic internal controls and effective audits and oversight; however, they remain undetected due to following factors-

Fraud and corruption is one of the biggest issues that the society is facing and is also one of the most challenging issues that have yet to be tackled worldwide. Organizations end up losing a lot of profits due to the scrupulous nature of its employee’s fraudulous

In this course, students are introduced to the conduct of fraud examinations, including a discussion of specific procedures used in forensic accounting examinations and the reasoning behind these procedures. Topics include an overview of fraud and abuse, forensic evidence, substantive procedures for cash outflow irregularities, substantive procedures for asset irregularities, financial statement fraud, and examination reporting.

Background: This course is required in order for me to complete my degree in Accounting. This is one of my final classes to take before completing my degree. My goal is to achieve a grade of C or higher in the class.

The general purpose of this research is to determine the cause for financial statement fraud. In addition, the purpose is to review ways fraudulent behavior can be detected and prevented. Lastly,

source or from an external source, it is also important for a security organisation to reduce the

Dane Striker recently joined in Nirvana Forensics Agency. He is a Certified Fraud Examiner (CFE), Certified in Financial Forensics (CFF) & preparing to attend the Certified Public Accountant (CPA) exam. He used to work as a freelance Forensic Accountant & successfully investigated some fraud cases in different reputed company. He prefers to work in production oriented sensitive business environment & like to detect embezzlement, fraud & intensive data analysis.

My undergraduate program already given me a strong understanding of financial systems and payments, and I obtained abundant experiences in management of Accounting system, including database design and internal control, through academic

The author of this report is asked to present a report that covers a real corporate fraud and how to help prevent it through techniques and metrics. The author is asked to present five major answers. The first answer is to how to implement the investigation and thus help fetter out who is the culprit and how deep and wide the fraud goes. The second question asks the author to detail what types of surveillance and review will be undertaken including techniques that are covert and unknown to the people being watched up to and including the highest executives of the firm. Red flags that would arise suspicions are to be identified as well as key practices to be used interviews with people with potential knowledge or even involvement in such crimes. In conclusion, a fraud prevention plan will be articulated.

|AAT Level 4 Diploma in Accounting |QCF qual ref |SCQF qual ref |QCF unit ref |SCQF unit ref |

In recent years, both domestic and abroad continued exposure accounting fraud, financial fraud and other cases, internal control has been a hot topic that people focus on. Accounting fraud has spread to all types, become a common phenomenon in the wider economy. In response to this, the recent discussion focused on improving accounting professionals (including accountants and CPAs,) of professional and ethical standards, to strengthen accounting practitioners and increasing the penalties for non-economic aspects.

Data captured for this study, were analyzed through descriptive and inferential statistical methods. The descriptive analysis involves the use of percentage, tabulation presentation. While the inferential statistical method involved the used of the chi-square. The functions of fraud prevention, detection and control are interwoven, as the three works together to eliminate fraud and fraudulent tendencies. Therefore, internal control is highly significant in fraud detection and preventions in banking sector.

In partial fulfilment of the course requirements in Management Accounting By: Ma. Isabel Lagunilla Hocson sab.lagu@gmail.com