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Frauds In Nigeria Banks :analysis And Solutions
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1.7 DEFINITION OF TERMS
In explaining fraud as an element of some other officers, the criminal
code ascribes it as a situation correlation with deceit. But a workable
definition can be traced to the Osborne’s concise law Dictionary (6th
edition). Thus fraud can be seen as the obtaining of material advantage
by unfair or wrong means. This may be either by way of abuse of
entrusted reasonability by convert of overt deceit. In a liberal sense
fraud may be used as an umbrella term to cover almost all classes of
white collar crimes known to law and business.
Fraud can
also be defined as one type of irregularity. It is usually reflect to
irregularities involving the use of criminal deception to obtain unjust
or illegal advantages (by Okorie Onovo, ACAS, understanding Auditing and
Investigation.)
Fraud can also said to be conscious
premeditated action of a gang of persons with the intention of altering
the truth or fact for selfish personal monetary reward. This involves
the use of deceit and tricks and sometime highly intelligent or cunning
methods. This action usually takes the form of signing of documents and
authorizing signature outright theft. (by Adeewumi 1986)
There are so many definitions of fraud but the researcher decided to
present just three definitions. All definitions seemed to be correct but
the former that of that of Osborne’s concise law Dictionary (6th
Edition|) contains elements of frauds appropriately and adequately for
the purpose of this research work.
These tow impact element are
That for a fraud to take place, there must be obtaining of material advantage wrongly
There must be abuse of entrusted responsibility or convert of overt
deceit that means that in this case a party is exposed to losses while
the other part gains
It will be of great importance to
briefly mention on the occurrence of fraud to answer the question WHEN
DOES FRAUD ARISE?
Fraud arises when a person in a
position of trust and responsibility breaks the rule and regulations to
advance his personal interest at expense of the public interest he has
been entrusted to guard and promote. It also arises when a person
through deceit trick or highly intelligent curing gains an advantage he
could not otherwise have gained through lawful, just or normal process.
Fraud is a mater of individual choice and opportunity. As human beings
the individual takes the advantage if there is opportunity and possible
means of getting away with it.
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ABSRACT - [ Total Page(s): 1 ] This work is designed to examine the assessment of the role of the mass media in anti-corruption campaign. It is organized into five very instructive chapters. Chapter one deals with the background, statement of the problems, research questions and hypotheses, assumptions and limitation of the study among other things. Chapter two is devoted to the review of relevant materials in the area of study. Chapter three contains the methodology while chapter four concentrated on ... Continue reading---
