Fraud Prevention Through Self Regulation: A Study of Some Selected Banks

Posted: 22 Jun 2007

Date Written: July 2004


This paper assesses the efforts made in preventing the occurrence of fraud in the Nigerian banking industry, through self regulation. The paper reviews literature on the various control measures in operation and their effectiveness in controlling fraud in the banking industry. Questionnaires were issued to the staff of ten banks. The questions asked centered on the effectiveness of the regulatory measures used by the banks in detecting and preventing fraud in the banking operations. In all, seventy three staff responded, and the paper is able to establish that adherence to the various disclosures requirements by the regulatory authorities and effective control measures will help in the detection and prevention of fraud cases in the Nigerian banking industry. It is the recommendation of the paper that management must be on alert to always review the internal control system operating in the bank in such a as to make it difficult for the possibility of the occurrences of fraud, and to always make adequate and relevant disclosures to the relevant authorities of their returns.

Suggested Citation

Tanko, Professor Muhammad, Fraud Prevention Through Self Regulation: A Study of Some Selected Banks (July 2004). Available at SSRN:

Professor Muhammad Tanko (Contact Author)

Kaduna State University ( email )

Tafawa Balewa Way
P. M. B. 2339
Kaduna State

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