Article : Examining The Effects Of Fraud Cases In Bulawayo Metropolitan Province Banks (2009-2012)

Title

Examining The Effects Of Fraud Cases In Bulawayo Metropolitan Province Banks (2009-2012)

Author

Barbara Mbuyisa, Thabani Ncube

The study sought to examine fraud cases in Bulawayo Metropolitan Province. It sought to examine various forms and causes of fraudulent practices, the effects and inducement of reforms in the Banking Industry through various legislations targeted at reducing fraud and introducing control measures and reporting systems by the Central Bank and the Banking Association of Zimbabwe. A descriptive survey design was employed in conducting the study while a questionnaire and face to face interviews were used to solicit data. Data was presented in tables and bar charts and analysed using frequency counts and percentages. The main findings of the study were that most of the bank fraud types that are currently taking place include forgeries, fraudulent transfers, unauthorised lending, and unofficial borrowing and fictitious accounts. Furthermore, the study revealed that in most cases of bank fraud, bank employees were involved. From the findings, the study concluded that bank fraud cases were being perpetrated mostly by Bank personnel colluding with external parties and Bank management being the most perpetrators of this crime. The study went on to recommend that further research on evaluation of training programs, procedures and measures in preventing fraud in a  rapid changing environment be visited in the near future.

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