--%>
Assignment Help - homework help

Frauds in banks

Frauds in banks: In today’s world all the financial institutions face a major problem of security in banking operations. Today it is a challenge in front of ever bank to secure its functioning and avoid the fraudulent practices in their banks. If the banks at any point of time fail to the security standards it has to face a huge loss of monetary assets. Banking information and documents are very secret and there should be a proper system to keep them secured. 

There are two types of frauds in the banks:

Internal Frauds: These are the frauds in which the culprit and the collaborator both are within the organization. In this type of fraud the employees take out the money of the customers without their approval.

External Frauds: These are the frauds which are carried by the people or the organizations or the group of people who are not the part of bank. These people create an identity for themselves which represents them as a customer of the bank. Usually the customers who perform online banking face this kind of fraud.  So, there is a need of application of such a scientific knowledge in basic operational procedure which is capable enough to protect the data and information of the banking instruments like cheques, cards etc.

   Related Questions in Finance Basics

  • Q : Why coefficient of variation is better

    Why is the coefficient of variation frequently a better risk measure while comparing different projects than the standard deviation?Whenever we desire to compare the risk of investments which have different means, we employ the coefficient of va

    		•
  • Q : Explain Object of Expenditure Object of

    Object of Expenditure (Objects): It is a categorization of expenditures based on the kind of goods or services received. For illustration, the budget group of Personal Services comprises the objects of Salaries and Wages and Staff Benefits.

  • Q : What is the Character of Expenditure

    Character of Expenditure: A classification recognizing the major purpose of expenditure, like State Operations, Local Assistance, Capital Outlay, or Unclassified.

    		•
  • Q : Financing costs in capital budgeting

    How are financing costs incorporated generally into the capital budgeting analysis procedure? Usually financing costs are captured in the discount or hurdle rate while doing NPV or IRR analysis. Usually the operating cash flows do not comprise

    		•
  • Q : Define the term Unappropriated Surplus

    Define the term Unappropriated Surplus: It is an outdated term for that part of the fund balance not reserved for particular purposes.

    		•
  • Q : Formula for the payment required for a

    Normal 0 false false

    		•
  • Q : Difference among proforma financial

    Describe difference among pro forma financial statements and a cash budget? Depict why pro forma financial statements are not utilized to forecast cash needs. Pro forma income statements deal along with revenues and expenses which are not alway

    		•
  • Q : Explain Feasibility Analysis

    Feasibility Analysis: It is an analysis of the ability to finish a project successfully, taking into account legal, technological, economic, scheduling and various other factors. Instead of just diving into a project and hoping for th

    		•
  • Q : Effect of merger activity in the

    How has the merger activity in the past decade influenced the concentration of assets in the banking industry? Over the last decade, the number of commercial banks declined through twenty-one percent and the averag

    		•
  • Q : Relationship which MPC bear to the size

    Normal 0 false false

    		•