An Evaluation of the Strategies Used in Curbing Fraud in the Banking Sector. A Survey of Banks in Bindura.
- Author
- Chipo Gillian Fuka
- Title
- An Evaluation of the Strategies Used in Curbing Fraud in the Banking Sector. A Survey of Banks in Bindura.
- Abstract
- The research study assessed the Strategies used in curbing fraud in the banking sector in Bindura. The mixed design approach was aimed at evaluating the response strategies used in curbing fraud in the banking sector of Bindura. This study examines the event of fraud and identifies that prior systems set up issues related to extortion are of importance due to the media's regular inclusion, which has harmed public trust. The study was guided by the following objectives: to assess the major types of fraud that hare experienced in the banking sectors of Bindura, to analyse the types of response strategies that have been established to curb fraud in the banking sectors of Bindura, to evaluate the effectiveness of response strategies that have been put in place to curb fraud in the banking sectors of Bindura and to establish the challenges encountered by the banking sectors of Bindura in the implementation of established strategies to curb fraud. The researcher used a sample size of 45 participants with the questionnaire and the interview as the main data collection instruments. Statistical Package for Social Sciences (SPSS) was used to analyse data which was represented using bar graphs, par charts and tables. According to the data, poor management practices and financial constraints appears to be the key causes of fraud, indicating that it is a significant concern. The analysis finds that when the perpetrators were apprehended and adjudged guilty, administration took decisive action on average. Also the findings indicated that card skimming, loan fraud, account fraud, online banking fraud and identity theft dominated in the banking sector of Bindura. The inside assessment survey, worker warning, and inadvertent revelation revealed the majority of misrepresentation events. According to the data, the majority of these firms lacked adequate fraud management procedures. The researcher strongly recommended more worker workshops and more activities to keep hunting and tracking bank fraudsters
- Date
- 2023
- Publisher
- BUSE
- Keywords
- Statistical Package for Social Sciences (SPSS)
- banking sector
- Supervisor
- N/A