AN ASSESSMENT OF FRAUD AND ITS MANAGEMENT IN A RURAL BANKING INDUSTRY

Abstract

Fraud in the rural banking industry before recapitalization efforts and even now is at an alarming rate. It has caused many banks to collapse, and many investors and depositors funds have been locked in these collapsed banks. Infact it has prevented many banks from achieving their goals and many businesses has gone into liquidation. Honestly speaking it has become a cankerworm that is eating deep into the financial sector of the Ghanaian economy. This called for the need for this study and the purpose of this study therefore is to identify the causes of fraud, measure its impact and identify means of controlling it. The study is a survey research and questionnaire was used for the collection of primary data while libraries, journals, write-ups, seminar papers and books by popular authors were used for secondary data.