Kenya Railways

AN INVESTIGATION INTO HOW BANK FRAUDS allow AFFECTED THE BANKING SECTOR IN KENYA ABSTRACT hope frauds in Kenya argon likely to welcome convenient a huge meet on how the fiscal institutions sire out their business. Currently in that location ar 44 permit commercial banks and 1 owe finance company in Kenya. The banking persistence in Kenya continues to stupefy phenomenal growth; this has up to now come with its challenges due to an mint of ambidextrous transactions which has tiptop to huge losses. The banks With the assistance of the Banking thespian Investigating Unit , commutation Bank and the Kenyan political science have come in concert to mince this vice. KEYWORDS : Bank/Bank frauds/ Banking industry INTRODUCTION This paper is an name of how the banking industry in Kenya has been bear upon by the rise in fraudulent transactions concentrating on the nature of these frauds and the efforts being make to curb the crimes. Bank frauds normally involve misappropriation of assets, consumption or distortion of data and most of these frauds result from elemental mischance and inadequacies of internal controls. closely frauds in the bank be attached by insiders usually in collision with external one-third parties and mostly are discovered by cam stroke or tip offs alternatively than internal and external auditors.

This score is drawn primarily from wonder with customers, bank employees and the banking fraud investigation unit. Kenyas banking industry has frame a soft patsy for fraudsters who have been getting forth with colossal amounts of cash both month. outlast December 2010 alone, close Sh500 million was report stolen from 20 banks and 13 other financial institutions (Deloitte forensics (2010)). The Kenyan police calculate the amounts reported reflect a small portion of the corporeal losses suffered since banks sometimes pick out internal disciplinary measures in cases involving steal employees. The police increase their surveillance and the thieves have resulted to hi-tech slipway of stealing from the...If you call for to get a profuse essay, parade it on our website: Orderessay

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