ethics in banking
The term fraud is defined in different ways by different authors. Boniface (1991) defined fraud as any premeditated act of criminal deceit, trickery or falsification by a person or group or persons with the intention of altering facts in order to obtain in due personal monetary advantage. It usually involves the perpetration of some forgery or falsification of documents or illegal authorisation of signature.
The certified fraud examines in Adeyemo (2012) defines fraud as illegal acts characterized by deceit, concealment or violation of trust. These acts are not dependent on the application of threat of violence or of physical forces. Frauds are normally perpetrated by individuals and organizations to obtain money, property or services to avoid payment or loss of services or to secure personal or business advantage. The Collens English in Adeyemo (2012) defined fraud as deceit, trickery, sharp practice or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage. Ojo (2008) concluded by stating fraud arises when a person in a position of trust and responsibility digresses from some agreed standards, breaks the rules to advance his personal interest at the expense of the interest of the public (customers).
From these definitions, it is apparent that fraud is a noticeable unethical practice by a privileged bank worker who takes undue advantage of a vulnerable/ weak customer. Frauds have many classifications but this paper restricts the classifications to four noticeable areas. Adeyemo (2012) classified them as;
a) Insider non-management fraud. These are perpetrated mostly by bank employees.
b) Outsiders/Insiders. This involves the collaboration of the bank staff and outsiders as explain below.
c) Outsiders fraud. This includes the customers and/or non-customers of the commercial banks.
This paper is just to reveal the unethical challenges facing the commercial bank workers and the challenges militating against good
The certified fraud examines in Adeyemo (2012) defines fraud as illegal acts characterized by deceit, concealment or violation of trust. These acts are not dependent on the application of threat of violence or of physical forces. Frauds are normally perpetrated by individuals and organizations to obtain money, property or services to avoid payment or loss of services or to secure personal or business advantage. The Collens English in Adeyemo (2012) defined fraud as deceit, trickery, sharp practice or breach of confidence, perpetrated for profit or to gain some unfair or dishonest advantage. Ojo (2008) concluded by stating fraud arises when a person in a position of trust and responsibility digresses from some agreed standards, breaks the rules to advance his personal interest at the expense of the interest of the public (customers).
From these definitions, it is apparent that fraud is a noticeable unethical practice by a privileged bank worker who takes undue advantage of a vulnerable/ weak customer. Frauds have many classifications but this paper restricts the classifications to four noticeable areas. Adeyemo (2012) classified them as;
a) Insider non-management fraud. These are perpetrated mostly by bank employees.
b) Outsiders/Insiders. This involves the collaboration of the bank staff and outsiders as explain below.
c) Outsiders fraud. This includes the customers and/or non-customers of the commercial banks.
This paper is just to reveal the unethical challenges facing the commercial bank workers and the challenges militating against good