The Effectiveness of fraud prevention and detection techniques in commercial banks: a case of CBZ (2019-2022) · Electronic Theses and Dissertations

Author

Dube Kudzai

Title

The Effectiveness of fraud prevention and detection techniques in commercial banks: a case of CBZ (2019-2022)

Abstract

The study sought to decisively determine the effectiveness of fraud prevention and detection techniques in Commercial Banks using CBZ as a case study. What prompted the researcher to conduct this research was that, despite the efforts of annual forensic audits, imposed internal controls and other fraud prevention and detection measures brought forward, the cases of fraud activities are still at rise in Zimbabwean banking sector. In this quest of dealing with these rising fraud activities Central Bank of Zimbabwe is constantly experiencing serious unjustified financial loopholes which are still at large haunting its financial performance over the past decade. It is evident that, these financial loopholes as a result of fraudulent practices are far beyond CBZ’s managerial and control capacity as manifested by continuous cases. Therefore, it is against this background that Zimbabwean commercial banks endure the fraudulent practices in this modern world of technology where it has become easier to detect and prevent such practices. However, this has triggered the researcher’s interest to conduct an investigation on the topic titled, “effectiveness of fraud prevention and detection techniques in commercial banks with specific reference to Central Bank of Zimbabwe for the period of 2019 to 2022. The persistent debate in the existing literature has captured the attention of the researcher and prompted the need to undertake further research study which will bridge the gap in literature and act as an integral point of reference. Furthermore, a descriptive research design was used in order to corroborate the requisite research instruments required in order to collect data from the respondents and interviewees. A stratified probability sampling technique with a random sampling technique was used in order to solicit heterogeneous and spontaneous responses from the sampled respondents. Measures of central tendency were used for data analysis while virtual aids such as tables’ graphs and charts were used for data presentation. Furthermore, the triangulation method was used for data validity while a pilot run was used to decisively determine the reliability of data collected from the sampled respondents. Data collected was then summarized, concluded and recommendations for improvements were availed.

Date

June 2022

Publisher

BUSE

Keywords

Commercial Bank,

Fraud,

Fraud prevention,

Supervisor

Dr. Maune,