--%>
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 : Excess reserves Normal 0 false false

    Normal 0 false false

  • Q : Influence of working capital in the

    How and why does working capital influence the incremental cash flow estimation for a proposed large capital budgeting project? Describe. Several large projects need additional working capital. This investment in additional working capital bec

    		•
  • Q : Explain Financial Reporting Financial

    Financial Reporting: It is a set of documents made generally by government agencies at the end of accounting period. It usually enclose summary of accounting data for that time period, with background forms, notes, and other information.

  • Q : Define Financial Controls Financial

    Financial Controls: Any measure of how fine a company or department controls its costs, at times stated as how far beneath or over budget it is. Financial controls are a critical portion of any financial system. They make sure that the resources are b

    		•
  • Q : Impotence of distinction Normal 0 false

    Normal 0 false false

  • Q : How are financial trades made on a

    How are financial trades made on a planned exchange?Each of exchange listed security is traded at a particulate location on the trading floor called the post. The trading is supervised through specialists who act either as brokers (bringing toge

    		•
  • Q : State Section 30.00 Section 30.00 : It

    Section 30.00: It is a Control Section of Budget Act which amends Government Code Section 13340 to tha sunset continuous appropriations.

    		•
  • Q : What is Proposition 98 Proposition 98 :

    Proposition 98: An initiative passed in the year November 1988, and amended in the year June 1990 election, which provides a minimum funding guarantee for school districts, community college districts, and other state agencies which give direct elemen

    		•
  • Q : Basic determinant of transactions

    Normal 0 false false

  • Q : What is Sunset Clause Sunset Clause :

    Sunset Clause: The language contained in a law which states the expiration (termination) date for that statute.

    		•