Fraud in the banking industry: a case study of Kenya

Akelola, S., 2012. Fraud in the banking industry: a case study of Kenya. PhD, Nottingham Trent University.

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Fraud has become a worldwide problem that is not set to abate in the near future. It is eroding the profitability of organisations with devastating effects on firm solvency. This research aims to contribute to the knowledge and understanding of fraud in Kenya’s financial institutions and focuses on the Kenyan banking industry, which includes forty three commercial banks of local, national, regional and international standing. The research conducted uses a theoretical framework based on the Fraud Triangle to analyse the incidence of fraud and the motivations of fraudsters. The research uses a sample of audit, fraud, security and other managers involved in fraud fighting from thirty banks across the industry to conduct a mixed qualitative and quantitative study based on a survey of sixty respondents and seventeen semi-structured interviews. The research found that fraud is considered to be a major problem within the Kenyan banking industry, although the relative size of frauds conducted was relatively small and unsophisticated. Fraud detection and prevention methods used in the industry were standard and no different from global standards. The fraud triangle worked effectively to predict the patterns of fraud described by respondents. However from this study it is argued that the Fraud Triangle is not as effective in explaining the collusive and predatory nature of the Kenyan bank fraudster.

Item Type: Thesis
Creators: Akelola, S.
Date: 2012
Rights: This work is the intellectual property of the author. You may copy up to 5% of this work for private study, or personal, non-commercial research. Any re-use of the information contained within this document should be fully referenced, quoting the author, title, university, degree level and pagination. Queries or requests for any other use, or if a more substantial copy is required, should be directed in the owner of the Intellectual Property Rights.
Divisions: Schools > Nottingham Business School
Record created by: EPrints Services
Date Added: 09 Oct 2015 09:34
Last Modified: 09 Oct 2015 09:34

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