Project Topic:

THE ROLE OF ICT IN FRAUD DETECTION AND PREVENTION IN THE NIGERIA BANKING INDUSTRY

Project Information:

 Format: MS WORD ::   Chapters: 1 - 5 ::   Pages: 52 ::   Attributes: Questionnaire, Data Analysis, Abstract  ::   1,022 people found this useful

Project Department:

BANKING FINANCE UNDERGRADUATE PROJECT TOPICS, RESEARCH WORKS AND MATERIALS

Project Body:

CHAPTER ONE

1.1 Background Of The Study

Today’s business environment is very dynamic and under goes rapid changes as a result of technological innovation, increased awareness and demands from customers.

Business organization especially the banking industry of the 21st century operators in a complex and competitive environment characterized by these changing conditions and highly unpredictable economic climate information and Communication Technology (ICT) is at the centre of this changes curve. Laudon and Laudon, (1991) contend that managers cannot ignore information system because they play a critical role in contemporary organization. That point that the entire cash flow of most fortune 500 companies is limited to information system.

The application of information and communication Technology concept, techniques, policies and implementation strategies of banking services has become a subject of fundamental importance and concerns to all banks and indeed a prereavisible for local and global competitiveness (ICT) directly affects how managers decides, how they plan and what products and services ware offered in the banking industry. It has continued to change the way banks and their corporate relationship are organized worldwide and the variety of inactive devices available to enhance the speed and quality of services delivery.

Harold and Jaff (1995), contend that financial services provide should modify their traditional operating practices to remain viable in the 1990’s and decades that follows. They claims the most significant shortcoming in the banking industry today is a wide spread failure on the part of senior management is banks to grasp the importance of technology and incorporate it into strategic plans accordingly.

Weherem (2000) claimed that only banks that over haul the whole of the payment and delivery systems and prosper in the new delivery system in order to properly position them within the framework of the dynamism of information and communication technology. The banking industry in Nigeria has witnessed tremendous changes linked with the development in ICT over the years.

The question for survival, global maintenance of existing market share sustainable development has made exploitation of advantages of ICT through the use of automated device imperative in the industry.

This study evaluate the response, of Nigeria banks to this new trend and examines the extent to which they have adopted innorative technologies in their operation and the resultant effects.

1.2 Statements of the Problem

Information and Communication Technology (ICT) is progressively reducing the significance of other factors of production through ICT it is now possible for countries to trade without border restrictions. Therefore as a result of anchoring their operations on (ICT) based delivery system the banks with ICT services have become more profitable.

Though the advantages and opportunities that ICT offers are very great, but this is not without some challenges fraud can likely occur more seriously in financial industry (banking) since large amount may be easier to operate electronically than the manual operation fraudster can beat various security codes through fraud can be greatly minimized, but there could still be some element of dishonest act.

Moreover, another area in which the adoption of information technology has negatively affected the banking sector is the threat it poses for the employees in the sector. According to Jaffer (1968), he ascertained that “unemployment is cyclical phenomenon technological progress may take for short problems of unemployment which rescure time for adjustment because of unmobility of capital and labour.”

According to an official of National Union of Banks, Insurance Finance Institution Employee (NUBIFIE) one of the greatest achievements of the group before the adoption of information technology in banks was the security and guarantee of employment for the members. In the words for Ibrahim (1998), he stated that (ICT) was adopted in bank without any notice without any plan for the future existence of the displaced employees without rehabilitation plan and benefits.

1.3 Objective of the Study

Information and Communication Technology (ICT) increasing, this sort of ICT is vital to the banking industry because it allows holders to do banking online as well as contact customer services support team member from mobile communication devices, or their home computers the objective of the study will be:

i. To identify possible defects and loopholes (if any) in the banking system

ii. To reveal the need for (ICT) in fraud detection and prevention in Nigeria banking industry.

iii. To reveal the usefulness and consequences of (ICT) to the Nigeria banking system.

iv. To offer useful recommendation based on the findings on how best to prevent the occurrence of fraud through an effective information and communication technology.

1.4 Research Hypothesis

The modern world scientific observations and investigations helps us to eliminate greater risk of uncertainties in this research. There are two (2) major school of thought with three (3) alternatives hypothesis as a trend to solution of this research problem.

1. H0: The present ICT in the Nigerian banking industry

is not effective in fraud detection and prevention.

Hi: The present ICT in the Nigerian banking industry

is effective in fraud detection and prevention.

2. H0: The present ICT does not proffer possible solution to defects and loopholes in the Nigeria Banking Industry.

Hi: The present ICT proffer possible solution to defects and loopholes in the Nigeria Banking Industry.

3. H0 The present ICT does not prevent the occurrence of fraud in Nigeria banking industries.

Hi The present ICT does not prevent the occurrence of

fraud in Nigeria banking industries.

1.5 Research Questions

In this sub-section, there need to state out research questions to be used in the study of problems. The questions are:

1. How regular does the ICT check the defects or loopholes in the banking system?

2. To what extent does fraud occurs in Nigeria banking industries?

3. To what extent has ICT helped in fraud detection and prevention in banking system.

4. How regular does the ICT measures the relevance and appropriateness of the adopted control in preventing fraud?

1.6 Significance of the Study

When we talk of significance, we mean the benefits to be derived in researching the case in completion of this study, the following significance will be reasonable.

– The result of this study would help to expose the level of fraud in Nigeria commercial banks.

– The result of this study would expose the fraudulent staff thereby preventing fraud in the institution.

– The outcome of this study would help the financial institution especially First Bank to see the extent of occurrence of fraud in the bank.

– The result would also help the bank to access their overall performance through internal control check.

– Students carrying out research in similar area can make use of the work

Get the complete project »


Instant Share On Social Media:


Can't find what you are looking for?
Call (+234) 07030248044.

OTHER SIMILAR BANKING FINANCE PROJECTS AND MATERIALS

A CRITICAL ANALYSIS ON THE USE OF FINANCIAL STATEMENTS IN ASSESSING THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIRST BANK NIGERIA)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 72 ::   Attributes: Questionnaire, Data Analysis  ::   16917 engagements

ABSTRACT This project work is carried out to examine the contribution of micro finance banks to the development of Small and medium scale enterprises in Nigeria. The Brass micro finance bank is used a...Continue reading »

A STUDY ON THE ACCEPTANCE AND ADOPTION OF THE CBN CASHLES POLICY IN PORT HARCOURT, NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 76 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   8637 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND TO THE STUDY One of the prerequisites for the development of national economy according to Ajayi et al, 2006 is by encouraging a payment system that is secu...Continue reading »

A STUDY ON THE IMPACT OF BUDGETARY CONTROLS ON THE PERFORMANCE OF AN ORGANIZATION (A CASE STUDY OF FIDELITY BANK PLC)

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 80 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   25725 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY AND PROFILE OF THE ORGANIZATION Following the uncertainties prevailing in the Nigerian business environment today, managers and stakeholders mu...Continue reading »

ANALYZING PERFORMANCE APPRAISAL TECHNIQUES IN UNION BANK NIG PLC

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 67 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   22283 engagements

CHAPTER ONE INTRODUCTION 1.1. BACKGROUND OF THE STUDY In any evaluation of the condition necessary for the growth and survival of an organization, the role of performance appraisal is a strategic f...Continue reading »

AUDIT INDEPENDENCE: ENHANCING ACCOUNTABILITY AND TRANSPARENCY IN CORPORATE ORGANIZATIONS

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 71 ::   Attributes: Questionnaire, Data Analysis,Abstract  ::   13091 engagements

CHAPTER ONE INTRODUCTION 1.1. Background of the study The subject of transparency and accountability in modern day corporate organizations has continued to receive attention as never before. It has b...Continue reading »

CREDIT MANAGEMENT AND ISSUES OF BAD DEBTS IN COMMERCIAL BANKS IN NIGERIA

 Format: MS WORD ::   Chapters: 1-5 ::   Pages: 68 ::   Attributes: Questionnaire, Data Analysis,Abstract

The article on this topic (credit management and issues of bad debts in commercial banks in Nigeria) is an extract from literature review of the project material. The complete project work would be ma...Continue reading »

What are looking for today?

WHAT OUR CUSTOMERS ARE SAYING:
  • 1. Haruna Usman Lame from Abubakar Tafawa Balewa University Bauchi said "I really enjoyed using this website am so grateful ".
    Rating: Excellent
  • 2. Bagu Manjing Dakan from polytecnic barkin ladi said "the use of information and communication technology in teaching of vocational subjects in plateau state polytecnic ".
    Rating: Excellent
  • 3. Ekeh Miracle from kaduna state University said "Toopnotch delivery from this crew I highly recommend everyyone to patronise them".
    Rating: Very Good
  • 4. Joseph from feck said "Bravo".
    Rating: Excellent
  • 5. JACOB from NASARAWA STATE UNIVERSITY, KEFFI said "I had a wonderful experience using ProjectClue, they delivered not only on time, but the content had good qualty. I recommend ProjectClue for any project research work.".
    Rating: Excellent
  • 6. Ibhadam Adam H from Bayero University, Kano said "Projectclue are really good and I have enjoyed their services.".
    Rating: Very Good