Relaying perpetrators in committing fraud; ways of

Relaying on the gathered information on the basis of the designed questionnaire, the researcher investigated determinant factors and effects of internal fraud in commercial banks. Therefore, the resulting SPSS windows output from analysis of chi-square test of independence reviled that among checked variables of interest, employees’ remuneration level; principles of perpetrators in committing fraud; ways of association of fraudsters for committing fraud; and managerial weakness have association with frauds committed indicating that, the incidence of fraud is highly attributable to low level of staffs’ remuneration, greedy behavior of perpetrators, the presence of internal collusion for fraudulent activities and managerial weakness encountered in relation with internal control system.On the other hand, based on the findings of this particular study, the type of fraud control technology being used had no contribution for committed frauds. The enquiry also showed that there were significantly low level of staffs’ involvement in hiding committed frauds although the degree of frauds committed on internal collusion basis especially on money transfer are considerable.

Consequently, such activities resulted in banks’ loss of public confidence as well as imprisonment of staffs.Therefore, based on the findings, the researcher would like to forward recommendations on issues requiring special attentions of stake holders as well as preventive measures.

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