Effective Internal Control Of Frauds In Banks A Case Study Of Commercial And Merchant Banks In Nigeria

This information can further be made clearer by being represented in a bar chart. From the table and the figure, it is clear that respondents ticked the clerks and cashiers, messengers and drivers as the categories that most often followed to collude to defraud the banks. This is not surprising for as was said earlier the cashiers by virtue of the fact that they handle the raw cash, fall   easily into the temptation of fraud. Next the drivers, messengers, stewards, et c who at one time or the other are called upon by the bank to purchase certain an articles for them, fall easily into this temptation. This survey of course is usually small as they are regarded as unskilled staff who have little of no qualification. Form the data also, management and supervisors, as well as supervisors, clerks and cashiers, as well as supervisors, clerk and cashiers have equal response of 19 percent respectively. Hence according to the respondents, these dose not seem to be much collusion between these categories. The category with least response is that of management, supervisors and clerks and cashiers.
This combination only as a percentage response of 6 percent. The researcher from this data observed that the poor response rate could have been as a result of the fact that in most important people. Managers would not find it comfortable, involving both supervisors, cashiers and clerks in committing a fraud, in fear of leakage.
The researcher in a bid to determine whether fraud has any effect on the profits of banks, asked the respondents, whether the profit of the bank before the period of the fraud, compared to the period of the fraud, showed an increase, a decrease or had no effect. Hence he obtained the following.