Economics of fraud and forgery in deposit money banks in Ilorin metropolis, Nigeria
Loading...
Date
2024-06-30
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
Faculty of Management Sciences Federal University, Dutsin-Ma
Abstract
This paper investigates the relationship between attitudinal factors and product services or technologies responsible
for fraud and forgery in bank operations and transactions for banking public. The research design is a case study and
uses survey and descriptive approach. A structured questionnaire was used for data collection and a simple random
sampling technique was employed to draw 10 deposit money banks out of 14 deposit money banks in Ilorin metropolis
that constituted the population frame for the study. A total number of 100 respondents made of both bank staff and
customers of the banks were randomly drawn from 10 deposit money banks that constituted the sample frame.
Descriptive statistics, Pearson Product Moment Correlation Coefficient, t- test statistics and coefficient of variation
were used investigate the level of variability and strength of association between the attitudinal factors and product
services/technologies. From the hypotheses testing, the difference in the means of the variables using Pearson Product
Moment Correlation coefficient and t- test statistics showed that t-test value was statistically significant (t-test value
=7.515) and correlation coefficient was (r = 0.242). The result reveals that there was a weak linear relationship
between the variables. However, both the attitudinal factors and product services/technologies induced fraudulent
practices in the banking industry. It was concluded that the hypothesized attitudinal factors have domineering
influence in stimulating and inducing frauds and fraudulent practices in the industry than the product services or
technologies. The study recommended that bank staff must be trained and retrained on frauds /forgeries prevention.
Description
the article guides management of banks on how fraud can be minimised
Keywords
Citation
SHITU, Abdul Muftah and Tajudeen, Lawal (2024): Economics of fraud and forgery in deposit money banks in Ilorin metropolis, Nigeria. Fudma journal of management sciences, 6 (1), 1-18.