--%>
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 : Describe Schedule 10R Schedule 10R

    Schedule 10R (Supplementary Schedule of Revenues and Transfers): The Department of Finance control document replicating information for transfers, revenues, and inter-fund loans for the past, present, and budget years. Schedule 10Rs i

    		•
  • Q : Consumers advocates expressed concern

    Consumer's advocates expressed concern over such merger possibilities. Elucidate this statement.

    		•
  • Q : Shares Assignment Mina Patel has seen

    Assignment Mina Patel has seen attractive advertisements for Dixons Retail plc and its UK-based brands. She is also aware of the intense competition between retailers of electronic and electrical goods, at a time of global economic uncertainty. Mina has recently inherited several thousand pound

    		•
  • Q : What is Statute Statute: It is a

    Statute: It is a written law enacted by the Legislature and signed by the Governor or a vetoed bill overridden by a 2/3 vote of both houses), generally referred to by its chapter number and the year in which it is passed. The statutes which modify a s

    		•
  • Q : Equilibrium level of aggregate

    Normal 0 false false

    		•
  • Q : Define Financial Planning Financial

    Financial Planning: It is a comprehensive assessment of an investor's present and future financial state by employing presently known variables to forecast future cash flows, asset values and the withdrawal plans.

  • Q : Define Augmentation Augmentation : An

    Augmentation: An authorized raise to a formerly authorized appropriation or allotment. This augment can be authorized by the Budget Act provisional language, control sections, or other legislation. Generally a Budget Revision or an Ex

    		•
  • Q : How societys interests can affect

    Normal 0 false false

    		•
  • Q : Explain Supplement-Schedule 7A

    Supplement (Schedule 7A): In such documents, for precedent year, authorized positions symbolize the number of real positions filled for that year. For present year, authorized positions comprise all regular ongoing positions accepted in the Budget Act

    		•
  • Q : Describe factors affecting minimum cash

    Describe the factors affecting the option of a minimum cash balance amount. The minimum cash balance amount is find out by how easy it is to increase funds when needed, how predictable the cash flows are, and how risk averse managers are.

    		•