Journal articles on the topic 'Bank fraud Prevention'
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Godana, Hillary, Samson Wokabi Mwangi, and Panuel Mwaeke. "Security Managers’ Perspectives on Challenges Facing Commercial Banks in Preventing Frauds in Nairobi City County, Kenya." Advances in Social Sciences Research Journal 9, no. 12 (December 11, 2022): 1–12. http://dx.doi.org/10.14738/assrj.912.13539.
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This paper uses data collected for an MA Thesis on Security Managers’ perspectives on challenges facing Commercial Banks in Preventing Frauds in Nairobi County, Kenya. The study was motivated by continued rise of frauds in commercial banks in the county, despite the extensive mitigation measures put in place to deter frauds. The study established the nature of frauds prevalent in Kenya commercial banks in Nairobi County, assessed the determinants of fraud in Kenya commercial banks, determined Bank Security Managers Capacity in fraud prevention, and finally examined Security Managers perceptions on the relationship between the existing preventive measures and emerging Bank fraud trends in Nairobi County, Kenya. The study was grounded by the Fraud Triangle concept and adopted a case study qualitative design. The main method of data collection was the interview. The study comprises of 50 respondents: 39 main respondents and 11 Key Informants. The census sampling Method was used to select respondents for the study. Data was transcribed and the transcriptions coded using NVIVO software. The study established three major types of frauds; Management frauds, Non-Management Frauds and Third Party Frauds, all said to be on an increase trend. According to this study fraud rates are higher at Nairobi County (90%), than at other counties (70%). Mobile and Internet banking frauds were found to be the new threats challenging commercial banks because by their very nature because of technological sophistication, were committed from geographical location including outside the country. The study established two major determinants of frauds; Fraudsters Perspectives and institutional related factors. Major fraudster’s perspectives include; condition under which people can rationalize their prospective crimes, opportunities to commit crimes, perceived suitability of targets for fraud, technical ability of the fraudster, the possibility and likelihood of the fraud being discovered and the nature of consequences. Institutional factors that influence fraud prevalence include; weak accounting and control systems, and ineffective internal audits. According to the study, technological sophistication has outsmarted many security managers in the banking sector, because of their technological skills gaps in Fraud forensics. Finally, the study established the relationship between existing preventive measures and emerging Bank fraud trends in Nairobi County. Major policy recommendations suggested to cut frauds at the nib include; benchmarking for best internationally recognized standards such as carrying out expected and unexpected audits, enforced internal controls, regular training of security managers, and review of commercial banks organogram that will place security managers at a position to police frauds perpetrated by management.
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Yulian Maulida, Windy, and Bunga Indah Bayunitri. "The influence of whistleblowing system toward fraud prevention." International Journal of Financial, Accounting, and Management 2, no. 4 (January 8, 2021): 275–94. http://dx.doi.org/10.35912/ijfam.v2i4.177.
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Purpose: This study aimed to determine the implementation of whistleblowing system and fraud prevention, and to find out how the whistleblowing system affects fraud prevention at the Jabar Banten Central Bank in Bandung. Research Methodology: This study used the explanatory method and simple linear regression analysis. The program used was SPSS Version 19.00. Results: The whistleblowing system affected fraud prevention by 54.3%. Limitation: The study is limited to the role of the whistleblowing system and fraud prevention. Contribution: The results of this study contribute to improving the application of the whistleblowing system and preventing fraud. Keywords: Whistleblowing system, Fraud prevention
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Nurlaela, Ela, Ratna Mappanyukki, and Dwi Asih Surjandari. "The Effect of the Internal Audit Roles and Auditor Professionalism on Fraud Prevention." Studies in Media and Communication 9, no. 2 (September 16, 2021): 24. http://dx.doi.org/10.11114/smc.v9i2.5324.
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This research aimed to find the internal audit roles (X1) and the auditor professionalism (X2) at Fraud Prevention in NJC Bank in Kuningan Regency. Samples of this research were the NJC Bank employees. The data collection used in this research is the questionnaire method and the data processing used the SPSS program. The analysis results show that the role of the internal auditor has a significant effect on fraud prevention (H1), the auditor professionalism significantly affects fraud prevention (H2), and the test results simultaneously show that the two independent variables have a significant effect on fraud prevention. Supported the results of the implication of this analysis is to improve the roles of the internal auditors and the professionalism of auditor internal could increase fraud prevention.
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Sharma, Neha, Dhiraj Sharma, and Arun Aggarwal. "Internet of Things and Banking Frauds-Friends or Foes? A Study of Indian Public and Private Sector Banks." Journal of Computational and Theoretical Nanoscience 17, no. 6 (June 1, 2020): 2596–604. http://dx.doi.org/10.1166/jctn.2020.8935.
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Ever since the introduction of banking business in this complex structure of human living, banks are believed to be one of the institutions which are recommended for trustworthiness and treasure repositories for the general public. These are the institutions which were and are still trusted for their veracity by the civilians of every nation. However, with the passage of time the increase in the technology results in the virtue of banking organization which seems to be under a big question mark and the main reason of this integrity loss of banking organizations in the present era is an epidemic known as fraud. Moreover, bank frauds are one of the crucial areas to be resolved from the angle of internet of things which includes many of the technological loopholes. Therefore, the present study aims to provide an appropriate solution to the problem of fraud in the present scenario of increasing trends of Internet of things in the banking industry especially in Indian context. The study discussed about the present fraud preventive measures used by the public and private sector banks in India and has also provided an elaborated model for fraud risk management which gives a comprehensive structure to be utilized in regard to the fraud prevention in banks.
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Dewi Yuniarti Rozali, Rozmita, and Jabbaar Mohammad. "PENGARUH PELAKSANAAN RISK BASED INTERNAL AUDITING TERHADAP PENCEGAHAN FRAUD." Jurnal Riset Akuntansi dan Keuangan 3, no. 3 (December 27, 2015): 831. http://dx.doi.org/10.17509/jrak.v3i3.6623.
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This study aims to determine the effect of implementation of risk based internal auditing on fraud prevention on internal audit Inspection Office Bank BRI Bandung Region. The sample used by 18 internal auditors in Inspection Office of Bank BRI Bandung Region saturated sampling method. Based on calculation of simple regression analysis obtained result that every increase of implementation of risk based internal auditing (X) will lead to increase fraud prevention (Y). It shows that there is a positive influence between the implementation of risk based internal auditing on fraud prevention on the internal audit of Inspection Office of Bank BRI Bandung Region.
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Ginanjar, Yogi, and E. Mulya Syamsul. "Peran Auditor Internal dalam Pendeteksian dan Pencegahan Fraud Pada Bank Syariah di Kota Bandung." Jurnal Ilmiah Ekonomi Islam 6, no. 3 (October 28, 2020): 529. http://dx.doi.org/10.29040/jiei.v6i3.1392.
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Bareskrim Polri has named two BJB Syariah Bank officials in Bandung City as suspects in a fictitious credit case worth Rp 548 billion. This is one of the big cases that has tarnished Islamic banking, especially in the city of Bandung. The purpose of this research is to conduct a deeper study of the role of internal auditors in detection and prevention of fraud at Islamic Banks in Bandung City. The research method used is descriptive analysis and verification with the type of survey. The independent variable used is the role of the internal auditor. Meanwhile, fraud detection and prevention is used as the dependent variable. The population of this research is all Islamic Banks in Bandung City. The sampling technique used random sampling in order to obtain a sample of 60 Islamic Bank employees in the city of Bandung. The data analysis used was correlation coefficient analysis, determination and hypothesis testing. The role of the Internal Auditor affects Fraud Detection by 26.72%. Meanwhile, the role of the Internal Auditor has an effect on Fraud Prevention by 43.16%.
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Aleksandrov, V. V., S. V. Ponomarenko, and M. V. Biryukov. "PREVENTION OF FRAUD ACTIONS ON BANK CARDS WITH FRAUD MONITORING SYSTEM." Herald of the Belgorod University of Cooperation, Economics and Law 3, no. 64 (2017): 225–33. http://dx.doi.org/10.21295/2223-5639-2017-3-225-233.
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Lubis, Debora Kartini Miseri, and Gideon Setyo Budiwitjaksono. "ANALISIS PENGENDALIAN INTERNAL, KESADARAN ANTI-FRAUD, DAN PENGETAHUAN FRAUD TERHADAP PENCEGAHAN FRAUD." Jambura Economic Education Journal 5, no. 1 (December 14, 2022): 1–10. http://dx.doi.org/10.37479/jeej.v5i1.14323.
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Analyzing and empirically testing the influence of internal control, anti-fraud awareness, and fraud knowledge on fraud prevention is the purpose of this study. Internal control variables, anti-fraud awareness, and fraud knowledge are independent variables and fraud prevention are the dependent variables of this study. The study used quantitative methods with primary data as a data source through the dissemination of questionnaires. All organic employees of 35 employees in the Branch Office of Bank Rakyat Indonesia (BRI) Surabaya Pahlawan are the population used in this study. The use of saturated sampling techniques by designating the entire population as a sample is a sampling technique used in this study. Multiple linear analysis is an analysis technique used that is processed with the help of SPSS version 22. The results revealed that internal control has no influence on fraud prevention. However, anti-fraud awareness and fraud knowledge have a positive influence on fraud prevention.
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Fatoni, Muhamad Erfin, and Abdul Halim. "Analisis Faktor-Faktor Penyebab Fraud Pada Badan Usaha Milik Daerah." Jurnal Riset Manajemen Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha Program Magister Manajemen 3, no. 2 (July 21, 2016): 97–119. http://dx.doi.org/10.32477/jrm.v3i2.179.
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The purpose of this research is to analyze the factors that cause the occurrence of fraud in PD BPR Bank Dearah X which is one of the regional owned enterprises of Local Government X and identify the steps ways of fraud prevention which is effective in PD BPR Bank Daerah X. This research uses a qualitative approach with a case study. This study uses the primary data and secondary data. This research uses many data collection techniques by conducting an interview, an observation and a documentation. The results show that the factors that cause the occurrence of fraud in PD BPR Bank Daerah X can be classified into four, namely: (1) the pressure that comes from the external and internal influence, (2) an opportunity or a chance due to the weakness of internal control systems owned by BPR , sanctions are not strict enough for the wrongdoers of fraud, and misuse of authority committed by directors, (3) rationalization, and (4) collusion. The ways of fraud prevention which are done by the management of PD BPR Bank Daerah X and based on the results of interviews conducted by the researchers, can be identified as follows: (1) An improvement of the internal control system in PD BPR Bank Daerah X, (2) An implementation of policy of know your employee (KYE) as an effort of fraud prevention by controlling the aspects of human resources (HR); (3) A creation of a special line of fraud reporting policy;and (4) An establishment of policies and sanction procedures.
Keywords: Fraud, Regional Owned Enterprises, Fraud Triangle, Anti-fraud Strategy.
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Osugba Sylvester and Onyige Chioma. "Assessment of knowledge and practice of criminal intelligence and staff profiling for fraud prevention in Nigerian banks." World Journal of Advanced Research and Reviews 13, no. 2 (February 28, 2022): 429–32. http://dx.doi.org/10.30574/wjarr.2022.13.2.0165.
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The study was set to examine knowledge and practice of criminal intelligence and staff profiling for fraud prevention in Nigerian banks, the study adopted the mixed method research design of descriptive survey and key informant interview. Multistage sampling technique was used to select the sample population for the study a total of 324 respondents was sampled using the Taro Yamane formula for sample size determination. Questionnaire and key person’s interview were used as data collection instrument. The findings of the study conclude that bank staff is aware and knowledgeable of criminal intelligence and staff profiling as an effective tool for fraud prevention. Beyond the awareness, bank staff are also knowledgeable on the application of criminal intelligence and staff profiling, while they also agreed that the extent of application of criminal intelligence and staff profiling in the recruitment, placement and monitoring of staff is low. However, the study recommends that Senior management of banks should be given adequate training and this training should be regularly updated on criminal intelligence and monitoring, as well as staff profiling. This would facilitate a greater uptake of credible intelligence and the prevention of bank fraud and other criminal activities.
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Ardiansyah, Risdy, Etty Mulyati, and Nun Harrieti. "TINDAKAN FRAUD DALAM HAL REKAYASA PELUNASAN KREDIT OLEH PEGAWAI BANK DALAM TRANSAKSI PERBANKAN DIKAITKAN DENGAN PRINSIP KEHATI-HATIAN." Jurnal Poros Hukum Padjadjaran 3, no. 1 (December 1, 2021): 50–68. http://dx.doi.org/10.23920/jphp.v3i1.569.
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ABSTRAKMaraknya tindakan tindakan fraud baik yang dilakukan oleh pihak internal bank maupun yang dilakukan oleh pihak luar bank. Bank memiliki peranan yang sangat penting dalam pencegahan tindakan fraud, salah satunya melalui kebijakan prinsip kehati-hatian. Hal tersebut menarik untuk dikaji mengenai analisis tindakan fraud dan tanggung jawab bank atas kerugian nasabah dalam hal rekayasa pelunasan kredit oleh pegawai bank dikaitkan dengan prinsip kehati-hatian. Metode penelitian yang digunakan dalam penulisan ini bersifat analisis deskriptif guna gambaran secara menyeluruh, sistematis dan mendalam tentang suatu keadaan atau gejala yang diteliti dikaitkan dengan peraturan perundang-undangan dan teori-teori hukum. Pendekatan yang digunakan dalam penelitian ini adalah yuridis normatif, dengan cara meneliti bahan pustaka yang disebut data sekunder yang terdiri dari bahan hukum primer, literatur-literatur, artikel-artikel, pendapat dan ajaran para ahli serta implementasinya dalam praktek. Tindakan fraud dalam hal rekayasa pelunasan kredit oleh pegawai bank dikaitkan dengan prinsip kehati-hatian yaitu bank wajib untuk selalu memelihara tingkat kesehatannya, dengan menerapkan prinsip kehati-hatian menurut Pasal 2, 8, dan 29 UU Perbankan. Serta Bank wajib menyusun dan menerapkan strategi anti Fraud secara efektif. Pertanggungjawabannya dapat dilihat pada Pasal 49 UU Perbankan, Pasal 8 POJK 39/POJK.03/2019 dan khususnya untuk lembaga keuangan mikro Pasal 37 UU LKM.Kata kunci: fraud; kredit; prinsip kehati-hatian; perbankan.
ABSTRACTThe rise of the action acts of fraud both were done by the bank's internal as well as that carried out by parties outside the bank. Bank has a role which is very important in the prevention of acts of fraud, one of them through policy prudential principles. It is interesting to study the analysis of fraud and the bank's responsibility for customer losses in the case of manipulation credit repayment by bank employees is linked to the prudential principles. The research methods used in this writing are analytically descriptive to obtain an overview in-depth about a situation or symptoms are observed associated with regulatory laws and legal theories. The approach used in this study is normative juridical, by examining library materials called secondary data consisting of primary legal materials, literature, articles, opinions, and teachings of experts and their implementation in practice. The act of fraud in terms of manipulation credit repayment by bank employees is linked to the prudential principles, namely that banks are required to always maintain their level of health, by applying the prudential principles according to Articles 2, 8 and 29 of the Banking Law. Also, Banks are required to formulate and implement an effective anti- fraud strategy. Accountability can be viewed on Article 49 of the Banking Law, Article 8 POJK 39/POJK.03/2019 and in particular to institutions finance micro Article 37 of the institutions finance micro Law.Keywords: fraud; credit; prudential principles; banking.
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Nugraha, Rahadiyan, and Bunga Indah Bayunitri. "The influence of internal control on fraud prevention (Case study at Bank BRI of Cimahi City)." International Journal of Financial, Accounting, and Management 2, no. 3 (September 15, 2020): 199–211. http://dx.doi.org/10.35912/ijfam.v2i2.165.
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Purpose: The purpose of this research was to determine how much the influence of Internal Control against Fraud Prevention at Bank BRI of Cimahi City. Internal control is an interlocking set of activities that are carried out by the board of directors, management, and other personnel. It is designed to provide confidence in achieving certain goals within the organization. Fraud Prevention is a precautionary measure by creating policies, procedures, organization, control techniques, and employee participation. Research methodology: The research method used in this study was explanatory method. The number of samples in this study were 46 employees of Bank BRI of Cimahi City. The analytical method used in this study was Partial Hypothesis Test (T-Test) with significance level of 5%. The program used to analyze data was Statistical Package for Social Sciences (SPSS) Ver20.00. Result: According to this research, internal control has a significant effect on fraud prevention by 50.2% Limitation: This research only described Bank BRI of Cimahi City. Contribution: This study can be useful for students, banking employees, and future researchers. Keywords: Bank BRI of Cimahi City, Fraud prevention, Internal control
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Asmah, Alexander Ekow, Williams Abayaawien Atuilik, and Dominic Ofori. "Antecedents and consequences of staff related fraud in the Ghanaian banking industry." Journal of Financial Crime 27, no. 1 (January 8, 2020): 188–201. http://dx.doi.org/10.1108/jfc-03-2019-0034.
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Purpose The purpose of this paper is to investigate the antecedents and consequences of employee fraud, focusing on the banking industry in Ghana. Design/methodology/approach A major bank was selected for the case study analysis. The researchers employed qualitative data analysis for the study. Content analysis of investigation reports and interviews of employees from different functional areas were used as the main data collection tools. Findings This study found that loans contracted by bank employees with huge repayment amounts put financial pressure on them to commit fraud. The study also found that inadequate controls in some areas of the bank can fuel the commission of fraud. In addition, aggrieved employees have highly chances of committing fraud. Huge punitive consequences were noted to exist for the employee who perpetrates the fraud and shareholders are also affected by the fraudulent behaviour of employees. Research limitations/implications Findings shown in the study confirm the hypotheses of the fraud triangle theory on the causes of fraud in spite of its criticisms. The findings are also consistent with extant studies on the antecedents and consequences of fraud. The use of one bank for the case study analysis as well as the three-year analysis period imposes a limitation on the study. Future studies can explore fraud using other different theoretical lenses. Gathering data from more than one bank and for a longer period of analysis may provide more accurate results. Practical implications This study provides some recommendations for fraud prevention in the banking industry in Ghana. The major one is the need for the central bank to collaborate with financial institutions to set up an effective credit worthiness system that will aid the monitoring of activities of the banks. Banks should also ensure that systems of controls are reviewed regularly to identify and deal with fraud. Originality/value This study is original, as it focuses on an industry that is highly susceptible to fraud because of issues of confidentiality with data and with the scanty literature on fraud.
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Asmah, Alexander Ekow, Williams Abayaawien Atuilik, and Dominic Ofori. "Antecedents and consequences of staff-related fraud in the Ghanaian banking industry." Journal of Financial Crime 26, no. 3 (July 2, 2019): 669–82. http://dx.doi.org/10.1108/jfc-08-2018-0083.
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Purpose The purpose of this paper is to investigate the antecedents and consequences of employee fraud, focusing on the banking industry in Ghana. Design/methodology/approach A major bank was selected for the case study analysis. The researchers used qualitative data analysis for the study. Content analysis of investigation reports and interviews of employees from different functional areas were used as the main data collection tools. Findings This study found that loans contracted by bank employees with huge repayment amounts put financial pressure on them to commit fraud. The study also found that inadequate controls in some areas of the bank can fuel the commission of fraud. In addition, aggrieved employees have a high propensity of committing fraud. Huge punitive consequences were noted to exist for employees who perpetrate fraud, and shareholders are also affected by the fraudulent behaviour of employees. Research limitations/implications Findings shown in the study confirm the hypotheses of the fraud triangle theory on the causes of fraud despite its criticisms. The findings are also consistent with extant studies on the antecedents and consequences of fraud. The use of one bank for the case study analysis as well as the three-year analysis period impose a limitation on the study. Future studies can explore fraud using other different theoretical lenses. Gathering data from more than one bank and for a longer period of analysis may provide more accurate results. Practical implications This study provides some recommendations for fraud prevention in the banking industry in Ghana. The major one is the need for the central bank to collaborate with financial institutions to set up an effective creditworthiness system that will aid the monitoring of activities of the banks. Banks should also ensure that systems of controls are reviewed regularly to identify and deal with fraud. Originality/value This study is original, as it focuses on an industry that is highly susceptible to fraud due to issues of confidentiality with data and with scanty literature on fraud.
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Anisykurlillah, Indah, Prabowo Yudo Jayanto, Hasan Mukhibad, and Umi Widyastuti. "Examining the role of sharia supervisory board attributes in reducing financial statement fraud by Islamic banks." Banks and Bank Systems 15, no. 3 (September 9, 2020): 106–16. http://dx.doi.org/10.21511/bbs.15(3).2020.10.
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Sharia Supervisory Board (SSB) plays an important role in implementing Islamic law in Islamic banks, including fraud prevention. This ungodly act, also known as haram, is highly forbidden in Islam, as evidenced in the holy book of Al Qur’an. Therefore, this study was conducted to provide evidence on the role of SSB attributes (number of members, expertise, cross-membership, educational level, attendance of meeting, tenure) in preventing fraud. This study used 11 Islamic banks in Indonesia as research samples that were observed during 2014–2018. Data were analyzed using the ordinary least squares (OLS) method. The research findings from this study showed that the number of members, cross-membership, education level, attendance of meetings, and SSB tenure were not proven to reduce fraud. SSB’s expertise in accounting/finance had a negative influence on financial statement fraud. The implication of the study is that SSB’s expertise helps banks to effectively carry out their duties, namely detecting financial statement fraud. SSB acts as an independent control mechanism that states that all bank activities are in line with Islamic law and also avoid financial statement fraud.
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Prena, Gine Das, and Reynaldi Mulyana Kusmawan. "Faktor-faktor Pendukung Pencegahan Fraud pada Bank Perkreditan Rakyat." Jurnal Ilmiah Akuntansi 5, no. 1 (June 25, 2020): 84. http://dx.doi.org/10.23887/jia.v5i1.24275.
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This study aims to determine whether the understanding of Risk Based Internal Audit, Whistleblowing System, anti-fraud awareness, and the application of the principles of Good Corporate Governance affect the prevention of fraud in Rural Credit Banks in Bali Province. This study uses primary data sources, using instruments in the form of questionnaires. The population used in this study were auditor internal and bord of directors from 134 Rural Credit Banks and the sample used was auditor internal from 57 Rural Credit Banks taken purposive sampling. The analytical method used is quantitative analysis that is multiple linear analysis using SPSS test equipment. t test results show that Risk Based Internal Audit, Whistleblowing System, Anti-Fraud awareness, and the application of the principles of Good Corporate Governance each have a positive effect on Fraud prevention
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Andriani, Dewi, Syarif Syarif, Aini Indrijawati, and Syamsuddin Syamsuddin. "FUNGSI INTERNAL CONTROL DALAM PENCEGAHAN FRAUD DI PT BANK MANDIRI (PERSERO) TBK. REGIONAL X MAKASSAR." AJAR 3, no. 02 (August 13, 2020): 176–87. http://dx.doi.org/10.35129/ajar.v3i02.137.
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This study aims to examine and analyze the function of internal control in fraud prevention at PT Bank Mandiri (Persero) Tbk. Regional X Makassar. This research uses descriptive qualitative analysis method where the data is obtained based on the results of interviews and adapted so that it becomes data that is explaining the research issue. The results of this study indicate that Bank Mandiri in Regional X Makassar continues to be committed and proactive with good governance in fraud prevention, with a special Internal Control unit that handles this and reports directly to the CEO in Regional / Independent. By way of prevention; Creating an Honest Culture and Eliminating Fraud opportunities for all Employees in Makassar Regional X Makassar.
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Sudirman, Sudirman, Halida Sasmita, Muhammad Djabir D, Budhi Krisnanto, and Feronica Fungky Muchsidin. "Effectiveness of Internal Audit in Supporting Internal Control and Prevention of Fraud." Bongaya Journal for Research in Accounting (BJRA) 4, no. 1 (April 30, 2021): 8–15. http://dx.doi.org/10.37888/bjra.v4i1.271.
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This study aims to analyze the effectiveness of internal audit at PT Bank Sulselbar Makassar in supporting internal control over fraud. This study uses a qualitative approach with the method of documentation, interviews and questionnaires to the internal auditors, anti-fraud department, and management as data collection methods. After the data was collected, data analysis was carried out using descriptive methods and measuring effectiveness. Based on the study results, it can be stated that the role of the Internal Audit Group as an internal audit in improving the internal control system for fraud at Bank Sulselbar has been influential. The internal audit of Bank Sulselbar has the authority to monitor the follow-up to the results of the audit conducted by the auditor. Monitoring activities are carried out to ensure that corrective actions have been carried out adequately and effectively. Thus, the company will implement better internal controls in the future because assessments and corrective actions for weaknesses and errors found are always carried out. There are three elements to prevent and detect fraud, namely a culture of honesty (personal), management responsibility to evaluate fraud risk (through internal control), and supervision by the audit committee (internal audit).
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Christinawati, Metha, and Hari Setiyawati. "Factors Affecting Banking Fraud Prevention and Their Impact On The Quality of Financial Statements." International Journal of Social Science and Business 6, no. 2 (June 28, 2022): 215–24. http://dx.doi.org/10.23887/ijssb.v6i2.46538.
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This research begins with a phenomenon where several banking sector companies experience increased corruption cases in financial management. The low internal control system and the lack of good corporate governance are opportunities to commit fraud by taking advantage of positions and positions. If these two things are done well, the company can undoubtedly minimize fraud, which will affect the quality of its financial statements. This study aims to analyze the role of banks in practicing reasonable internal control and governance systems. This research uses a quantitative approach with a causal type of research. This research uses a quantitative approach with a causal type of research. The population in this study is a national private commercial bank listed on the Indonesia Stock Exchange. The sample was determined based on the accidental method, with a total sample of 34 established bank companies. The process of collecting primary data using a questionnaire. Data were analyzed and processed using Smart PLS. The results showed that the internal control system had a positive and significant effect on fraud prevention but no effect on financial reports' quality. At the same time, the principles of good corporate governance have a positive and significant effect on fraud prevention and the quality of financial reports. Fraud prevention has a positive and significant effect on the quality of financial reports.
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Rustiarini, Ni Wayan, Ni Nyoman Ayu Suryandari, and I. Kadek Satria Nova. "RED FLAGS AND FRAUD PREVENTION ON RURAL BANKS." Buletin Ekonomi Moneter dan Perbankan 19, no. 2 (December 29, 2016): 177–206. http://dx.doi.org/10.21098/bemp.v19i2.629.
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This paper identifies the effectiveness of the red flags in detecting fraudulent financial statements, as well as preventive measures appropriate to implemented in Bank Perkreditan Rakyat (BPR). We use field survey convering the whole BPR in Province Bali, covering 60 indicators provided to 101 internal auditors from 86 BPR. The result shows that the highest dimensions within the Fraud Diamond are capability. Efforts to prevent the fraud would be the culture of honesty and high ethics, evaluating anti-fraud process and control, and developing an appropriate oversight process.
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Hoffmann, Arvid O. I., and Cornelia Birnbrich. "The impact of fraud prevention on bank‐customer relationships." International Journal of Bank Marketing 30, no. 5 (July 20, 2012): 390–407. http://dx.doi.org/10.1108/02652321211247435.
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Nugroho, Dennyca Hendriyanto, and Zaenal Afifi. "PENGARUH PENGENDALIAN INTERNAL DAN GOOD CORPORATE GOVERNANCE TERHADAP PENCEGAHAN FRAUD." Yudishtira Journal : Indonesian Journal of Finance and Strategy Inside 2, no. 3 (December 12, 2022): 301–16. http://dx.doi.org/10.53363/yud.v2i3.42.
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This study aims to determine: (1) The effect of internal control on fraud prevention, (2) The influence of good corporate governance on fraud prevention, (3) The effect of internal control on good corporate governance. This research was conducted at the People's Credit Bank (BPR) spread across Kudus Regency. This study used a data collection technique by distributing questionnaires at rural banks in Kudus Regency with the collection of 118 respondents. The obtained questionnaires were tested using validity and reability to test the feasibility of the obtained questionnaire data. The test equipment used in this study was to use the analysis requirements test including normality test, multicolonierity test, heteroskedasticity test. The method used in data analysis is a multiple regression analysis model. The results of this study show that: (1) internal control variables have a positive and significant effect on fraud prevention, (2) Good corporate governance variables have a positive and significant effect on fraud prevention, and (3) Internal control variables have a positive effect on good corporate governance
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Dewi, Putu Purnama, Ni Putu Eni Suwantari, and I. Putu Dharmawan Pradhana. "Faktor-Faktor Pencegahan Fraud pada Lembaga Perbankan." E-Jurnal Akuntansi 31, no. 6 (June 26, 2021): 1592. http://dx.doi.org/10.24843/eja.2021.v31.i06.p19.
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The purpose of this study is to identify the factors that influence the prevention of fraud in banking institutions including the implementation of good corporate governance, the application of the tri hita karana culture and the existence of a whistleblowing system. The location of this research is the Regional Development Bank (BPD) Bali with a population of all staff of BPD Bali Renon branch with a total sample of 96 respondents and using the saturated sample method. The analysis technique applied is multiple linear regression analysis. The findings in this study illustrate that the implementation of good corporate governance, the application of the tri hita karana culture, and the whistleblowing system in the company illustrates a significant positive effect on fraud prevention efforts at Bank BPD Bali.
Keywords: Good Corporate Governance; Tri Hita Karana Culture; Whistleblowing System; Fraud Prevention.
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Yuliar, Ade, and Dita Andraeny. "THE ROLE OF LEADERSHIP, CORPORATE CULTURE REINFORCEMENT, AND HUMAN CAPITAL DIVISION IN PREVENTING FRAUD STUDY ON ISLAMIC BANKS." Asia Pacific Fraud Journal 5, no. 2 (December 30, 2020): 233. http://dx.doi.org/10.21532/apfjournal.v5i2.161.
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The rapid growth of Islamic Banking in Indonesia raises the risk of fraud as happened in Islamic Bank X in the last few years, in which the trend continues to increase. This study aims to unravel the root of fraud problem in Islamic Banking and strive to provide appropriate solutions in the prevention of fraud through qualitative approach. This study provides a formulation of role model and leadership policy through the reinforcement of organizational culture and the role of Human Capital Division as a step in the prevention of fraud.
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Cholisoh, Lies, and M. Fuad Hadziq. "Implementation of GCG (Good Corporate Governance) on the Prevention of Fraud Financing in Islamic Banks." El-Qish: Journal of Islamic Economics 1, no. 2 (December 4, 2021): 98–108. http://dx.doi.org/10.33830/elqish.v1i2.1569.2021.
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Although Islamic Banking operates with Islamic principles, there are still many frauds that are committed deliberately for particular cases. This study aims to determine the extent of the influence of Good Corporate Governance in Islamic banking on indications of fraud, especially at Bank BNI Syariah. This research is quantitative research with primary and secondary data, namely using a sample questionnaire and interviews. While the data analysis is using multiple regression with descriptive analysis. The results of the study concluded that the resulting regression had a very small R square at 34.7%. Finding. The results of the t-test show that partially the independent variables in GCG, namely information disclosure, accountability, responsibility, independence, fairness, are stated to not affect the financing of fraud. This is because the number of R squares has a small effect. After all, it is below 50% so that the impact on the insignificance of the variables in GCG on fraud financing. Therefore, it results from the t-test in which none of the X variables affect variable Y. From the information above, it can be concluded that the GCG variable simultaneously has a significant effect on financing fraud, but if tested partially, the GCG variable has no effect on financing fraud.
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Dwiyanti, Dinda, Agung Prasetyo Nugroho Wicaksono, and Ihyaul Ulum. "Internal Control System, Whistleblowing System, Organizational Commitment and Fraud Prevention: Individual Morality as A Moderating Variable." JAK (Jurnal Akuntansi) Kajian Ilmiah Akuntansi 9, no. 2 (July 4, 2022): 172–88. http://dx.doi.org/10.30656/jak.v9i2.4577.
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The purpose of this study is to examine the effect of the internal control system, whistleblowing system, and organizational commitment to fraud through individual morality as moderation. This research is associative descriptive research. The population used is all permanent employees of Bank BNI Tulungagung with a sampling form of convenience sampling set by the researcher as many as 55 respondents. The analysis method of this research is PLS analysis through SEM approach by utilizing SmartPLS 3.0 software. The results showed that the internal control system had a significant effect on fraud prevention. However, the whistleblowing system and organizational commitment do not affect fraud prevention. Individual morality weakens the relationship of the internal control system to fraud prevention.
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Knežević, Snežana, Aleksandar Živković, and Stefan Milojević. "The role and importance of internal control and internal audit in the prevention and identification of fraudulent actions in banks." Bankarstvo 50, no. 1 (2021): 66–89. http://dx.doi.org/10.5937/bankarstvo2101066k.
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Modern banks have a specific role and a whole range of functions of paramount importance, as financial institutions for granting loans, creating loans, mobilizing savings and economic development. In the financial sector, there is a growing number of people who are using increasingly innovative and creative ways of targeting all perceived weaknesses in banks and credit approval systems. The persons committing fraud have become increasingly sophisticated, which means that measures to prevent fraud must be constantly developed to ensure that they are able to deal with the threat. The fight against fraud is crucial for financial services institutions. This article aims not only to briefly describe the role of internal control and internal audit in detecting possible fraud in banks, as profit-oriented organizations in today's complex and highly changing business environment, but also to point out the advantages they have in the more efficient management of bank activities.
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Bagianto, Agus, and Hendriyana Hendriyana. "Understand the Role Whistleblowing System and Internal Audit on Fraud Prevention." JASa (Jurnal Akuntansi, Audit dan Sistem Informasi Akuntansi) 5, no. 3 (December 29, 2021): 374–84. http://dx.doi.org/10.36555/jasa.v5i3.1733.
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The development of the business world, especially banking is increasingly complex with a lot of competition. This can trigger the emergence of asset abuse and other fraud. This condition requires managers in the company to always carry out supervision in order to anticipate losses experienced by the company by doing various ways that can prevent them. This study aims to analyze the role of the whistleblowing system and internal audit on the fraud prevention of PT. Bank Mandiri Bandung branch. The factors tested in this study are the whistleblowing system and internal audit as independent variables, while fraud prevention is the dependent variable. The research design used in this study is explanatory. The population in this study were 50 employees of PT. Bank Mandiri Bandung branch. The sampling technique used in this study is to use a saturated sample because the population size is known with certainty. While the analytical method used in this study is multiple linear regression analysis at a significance level of 5%. The program used in analyzing and using the Statistical Package for Social Science (SPSS) Ver. 23. The results of hypothesis testing indicate that the whistleblowing system and internal audit can prevent fraud.
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Ali Akbar, Mhd. "MENCEGAH FRAUD DI DALAM INDUSTRI PERBANKAN." SCIENTIFIC JOURNAL OF REFLECTION : Economic, Accounting, Management and Business 3, no. 1 (January 1, 2020): 61–70. http://dx.doi.org/10.37481/sjr.v3i1.126.
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This study aims to determine the effect of Internal Audit, Ethical Behavior and Whistleblowing System on Fraud Prevention. The population of this research is the frontliner and the Head of the Frontliner who works at PT Bank Central Asia Tbk. KCU Alam Sutera. This research method uses qualitative methods by distributing research questionnaires involving 50 respondents. In this study the authors used SPSS 25 in processing data. From the results of the partial hypothesis test it was found that the internal audit variable had no effect on fraud prevention variables. On the other hand the ethical behavior variable and the whistleblowing system variable influence the fraud prevention variable. And the results of the simultaneous hypothesis test show that all independent variables influence the dependent variable together
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Safitri, Novi Angga, Jefry Tarantang, Rahmad Kurniawan, and Tri Anshari Muharrami. "THE FRAUD OF BANKING REVIEW IN LEGAL PERSPECTIVE." International Journal of Law Reconstruction 6, no. 1 (April 9, 2022): 41. http://dx.doi.org/10.26532/ijlr.v6i1.20424.
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The fraud is one of the things that can be done by someone, from the mild to the most severe level of cheating. Fraud is one of the acts of fraud and fraud committed by certain groups in obtaining personal gain and of course having a fairly large level of loss. This research aims to explain the ideas and theories and characteristics of perpetrators of fraud, how to resolve the law that must be enforced in order to face judicial problems and risks for perpetrators and ways and strategies to overcome fraud that occurs within the scope of banking. This study used a method in literature and library research, namely analysis in the form of discussions related to legal ideas, theories and the occurrence of fraud in the banking law perspective so that conclusions can then be drawn in understanding the extent to which actions based on fraud perpetrators can harm themselves or loss to another person/party. Losses caused by fraud are very large losses and can be widespread in the scope of banking. In addition, the bank really avoids all forms of loss, one of which is reputation risk which greatly affects the quality of the bank because it can give a bad image and influence to the wider community due to cases of fraud or fraud. The fraud prevention strategy is in the form of a systematic form that exists in controlling fraud, in this case management is required to mobilize productivity and quality resources so that the strategy in controlling prevention can continue and provide useful effects in reducing fraud cases.
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Jesenko, David, Štefan Kohek, Borut Žalik, Matej Brumen, Domen Kavran, Niko Lukač, Andrej Živec, and Aleksander Pur. "STALITA: Innovative Platform for Bank Transactions Analysis." Applied Sciences 12, no. 23 (December 6, 2022): 12492. http://dx.doi.org/10.3390/app122312492.
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Acts of fraud have become much more prevalent in the financial industry with the rise of technology and the continued economic growth in modern society. Fraudsters are evolving their approaches continuously to exploit the vulnerabilities of the current prevention measures in place, many of whom are targeting the financial sector. To overcome and investigate financial frauds, this paper presents STALITA, which is an innovative platform for the analysis of bank transactions. STALITA enables graph-based data analysis using a powerful Neo4j graph database and the Cypher query language. Additionally, a diversity of other supporting tools, such as support for heterogeneous data sources, force-based graph visualisation, pivot tables, and time charts, enable in-depth investigation of the available data. In the Results section, we present the usability of the platform through real-world case scenarios.
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Supriyadi, Heri, Dominicus Savio Priyarsono, Noer Azam Achsani, and Trias Andati. "Preventing Internal Fraud in Microlending Business Processes with Machine Learning Models: Confirmatory Factor Analysis (CFA) and Extreme Gradient Boosting (XGBoost)." Asia Proceedings of Social Sciences 8, no. 1 (May 30, 2021): 34–37. http://dx.doi.org/10.31580/apss.v8i1.1943.
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Internal fraud (occupational fraud) in the microcredit business has caused significant losses for the banking industry and financial institutions. The unique microcredit business process and the amount of loans provided were relatively small for each customer. The more extensive the credit portfolio in a bank /financial institution, it took many marketing personnel/microcredit analysts. Internal fraud was one type of operational risk that banks/financial institutions often face that focused on microcredit services. The most common types of fraud were Corruption and Asset Abuse (ACFE), such as Tempilan credit (loan partly used by the debtor), Topengan credit (misused loan), and Fictitious Credit. Machine learning that was run automatically was used to predict internal fraud in microcredit business processes. This study conducts the use of analysis with CFA (Confirmatory Factor Analysis) method to ascertain which component in the model of Social Identity and Triangle-Fraud most dominantly affects a person to commit fraud in the process of microloan services. This study also applies Extreme Gradient Boosting (XGBoost) model to predict the possibility of fraud events. The level of possible fraud events will be manifested in the form of "Risk-Scoring.". This research result is expected to provide input to the banking industry/financial institutions that serve microcredit to make efforts and make fraud prevention strategies more effective.
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Harahap, Dewi Sartikah Putri, Nasrizal Nasrizal, Novita Indrawati, and Siti Hanifa Sandri. "The Pengaruh Internal Audit Dan Whistleblowing System Terhadap Pencegahan Fraud Dengan Moralitas Individu Sebagai Variabel Moderator (Studi Empiris Pada Bank Perkreditan Rakyat Di Provinsi Riau)." Jurnal Akuntansi dan Ekonomika 12, no. 1 (June 20, 2022): 82–91. http://dx.doi.org/10.37859/jae.v12i1.3065.
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The purpose of this study is to examine the internal audit and whistleblowing system as independent variables, fraud prevention as the dependent variable and individual morality as a moderating variable. The data in this study were taken with using a questionnaire that was distributed throughout BPR in Riau Province. Collected from 29 BPR in Riau Province, the respondents of this study consisted of each BPR internal audit section and finance department with a total amount of the total respondents were 87 people. The data analysis technique used in this research is Partial Least Square (PLS) with the help of WarpPls 7.0 software. The results of this study indicate that internal audit and the whistleblowing system have an effect on fraud prevention and individual morality moderates the relationship between internal audit and the whistleblowing system on fraud prevention.
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Porechny, E. M., and V. D. Makromenko. "Some features of regional organized groups or the criminal community of mеgapolis: Socio-criminological aspect." Sociology and Law 14, no. 2 (June 28, 2022): 164–73. http://dx.doi.org/10.35854/2219-6242-2022-2-164-173.
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The presented article is devoted to the study of the peculiarities of regional organized groups or the criminal community of megapolis (St. Petersburg and Leningrad region), the debatable nature of their socio-criminological characteristics. The article indicates possible ways to improve the effectiveness of countering and preventing crime in general, as well as crimes committed using information and telecommunication technologies, in particular. Attention is drawn to the problem of remote fraud, including Internet fraud, in terms of obtaining remote access to customers’ bank cards. It is emphasized that the effectiveness of law enforcement activities in preventing the activities of organized crime is associated with the vulnerability of existing formulations of organized groups or criminal community. The success and effectiveness of countering the activities of organized crime is largely determined at the level of early prevention.
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Samoilenko, Olena, and Kateryna Titunina. "Internet fraud: technologies of performance, ways of counteraction and prevention." ScienceRise: Juridical Science, no. 2(16) (June 30, 2021): 65–70. http://dx.doi.org/10.15587/2523-4153.2021.235769.
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The article proves that the separation of technologies for committing fraud on the Internet allows you to determine the causal complexes. As a result, it is possible to effectively influence the prevention and counteraction of the corresponding type of crime. The author concludes that it is necessary to introduce into the practice of law enforcement and other government agencies effective tools for preventing and combating Internet fraud. He sees such a tool as outreach activities and modes of action that will block the determinants of criminal behavior in cyberspace. In order to concretize the specified means of prevention, it also deepens the theoretical basis regarding the system for preventing Internet fraud. So, the author comes to the conclusion that counteraction is a system of measures and methods of activity not only of law enforcement agencies, but also of other state and non-state bodies, while among these measures there are measures to prevent certain types of crimes. The article indicates that in the process of implementing a certain type of cybercrimes by criminals, they talk about the technologies of criminal activity as complexes of interrelated crimes, united by a single criminal purpose. For the commission of Internet fraud in the technology of criminal activity, there are typically ways of committing crimes in the use of computers, systems and computer networks and telecommunication networks (provided for in Section XVI of the Criminal Code of Ukraine) and Art. 200 of the Criminal Code of Ukraine. As a result of the analysis of the materials of the forensic practice of investigating fraud on the Internet, two main technologies have been identified: 1) the seizure of funds using phishing sites (the methods of reporting false information from the victim and its content have been updated) 2) the seizure of funds using a bank payment card and / or ATM (the variability of the method of manipulating information has been updated)
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Santika, Ana, and Ruslan Abdul Ghofur. "THE INFLUENCE OF SHARIA COMPLAINCE AGAINST FRAUD ON THE SHARIA BANKS IN INDONESIA." I-ECONOMICS: A Research Journal on Islamic Economics 5, no. 2 (December 26, 2019): 102–15. http://dx.doi.org/10.19109/https://doi.org/10.19109/ieconomics.v5i2.4082.
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This study aims to analyze how big the influence of sharia compliance towards the profitability of Islamic Banks in Indonesia. The sample selected by the method of purposive sampling so obtained 9 samples of islamic banks The Unit of analysis in the study amounted to 45 of the annual report of Islamic Banks. Research approach with quantitative methods using secondary data. Type the quantitative data in the form of data of financial statements (annual report) each bank of the the year 2013 until 2017. The results of this study seen from the results of the F test, a variable Profit Sharing Ratio (PSR), Islamic Income Ratio (IsIR), and Islamic Investment Ratio (IIR) simultaneously no significant effect on the variable fraud. From the results of t test variable Profit Sharing Ratio (PSR), Islamic Income Ratio (IsIR), and no significant effect on the variable fraud. From the results of t test variable Profit Sharing Ratio (PSR), Islamic Income Ratio (IsIR), and Islamic Investment Ratio (IIR) no effect and not significant on the variable fraud. Based on the results of the above analysis in the absence of such influence caused, the activities in Islamic banking are currently carrying out compliance on sharia principles, because the lower the level of fraud the higher the level of shariah compliance on Islamic banking. The banks still have to improve the level of compliance with the principles of sharia and also do activities to the prevention of fraud.
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Nurul, Rizki, and Yudhi Herliansyah. "The Influence of Corporate Ethics Culture on Whistleblowing Mechanisms and Their Impact on Fraud Detection (Empirical Study in the Anti Fraud Division of PT. Bank XYZ in Jakarta 2020)." Asian Journal of Social Science Studies 6, no. 3 (October 6, 2021): 1. http://dx.doi.org/10.20849/ajsss.v6i3.932.
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Fraud is one of the main problems for many organizations today. The more cases of fraud that occur in the banking sector in Indonesia, it is necessary to have fraud prevention efforts. This study aims to examine the effect of corporate ethical culture on the whistleblowing mechanism and its impact on fraud detection. This research was conducted using an explanatory quantitative research method with a survey through distributing questionnaires to all anti-fraud employees and the internal audit work unit who were directly involved in the whistleblowing mechanism at Bank XYZ who became respondents. The total respondents in this study amounted to 89 respondents. Statistical testing in this study used a statistical test approach with Smart PLS software version 3.0. The results of this study indicate that the company's ethical culture has a significant positive effect on the whistleblowing mechanism, the whistleblowing mechanism has a significant positive effect on fraud detection and the company's ethical culture has a significant positive effect on fraud detection with the whistleblowing mechanism while the influence of corporate ethical culture has no significant effect on fraud detection.
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Zamachsari, Faried, and Niken Puspitasari. "Penerapan Deep Learning dalam Deteksi Penipuan Transaksi Keuangan Secara Elektronik." Jurnal RESTI (Rekayasa Sistem dan Teknologi Informasi) 5, no. 2 (April 28, 2021): 203–12. http://dx.doi.org/10.29207/resti.v5i2.2952.
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The rapid development of information technology coupled with an increase in public activity in electronic financial transactions has provided convenience but has been accompanied by the occurrence of fraudulent financial transactions. The purpose of this research is how to find the best model to be implemented in the banking payment system in detecting fraudulent electronic financial transactions so as to prevent losses for customers and banks. Fraud detection uses machine learning with ensemble and deep learning with SMOTE. Financial transaction data is taken from bank payment simulations built with the concept of Multi Agent-Based Simulation (MABS) by banks in Spain. To build the best model, not only pay attention to the accuracy value, but the value of precision is a value that needs attention. A precision score is very important for fraud prevention. Fraud detection gets the best results without the SMOTE process by using deep learning with an accuracy score of 99.602% and precision score of 90.574%. By adding SMOTE, it will increase the accuracy score and precision score with the best model produced in the Extra Trees Classification with an accuracy score of 99.835% and precision score of 99.786%.
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Rahman, Nayem, and Shane Iverson. "Big Data Business Intelligence in Bank Risk Analysis." International Journal of Business Intelligence Research 6, no. 2 (July 2015): 55–77. http://dx.doi.org/10.4018/ijbir.2015070104.
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This paper provides an overview of big data technologies and best practices from the standpoint of business intelligence (BI) applications in the banking industry. The authors discussed current challenges in banking industry that could be addressed by using big data technologies. Based on their research, they provided a list of big data tools and technologies in terms of an ecosystem that are suitable for real-time data processing and capable in bank fraud detection and prevention, and other bank risk analysis. They highlighted how business intelligence could be leveraged with the help of emerging big data technologies.
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Chui, Lawrence, and Diane M. Matson. "Embezzlement at the Grandview Community Recreation Association." Issues in Accounting Education 34, no. 2 (February 1, 2019): 41–59. http://dx.doi.org/10.2308/iace-52392.
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ABSTRACT This case is based on actual fraud at a not-for-profit organization. In this case, students assume the role of a volunteer forensic investigator who assists the local police department to investigate the possible embezzlement case for a recreation association. Students learn about the activities and the people who are involved with the association. Through the examination of various documents, they identify any discrepancies between the association's accounting records and bank statements. Students apply the fraud triangle to gain a perspective on the possible motivation, opportunity, and rationalization of the likely perpetrator. Students become familiar with the concept of embezzlement and larceny, and recommend fraud prevention practices for the association. After completing this case, students are more aware of why and how small not-for-profit organizations are more susceptible to fraud than are other organizations. This case is appropriate for use in a forensic accounting course or an advanced auditing course.
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Ayokunle O, Odusina, Fowosire ., and Remilekun A. "Information and Communication Technology, Bank Verification Number and Fraud Prevention in Nigerian Banking Industry." South Asian Research Journal of Engineering and Technology 01, no. 01 (July 30, 2019): 22–31. http://dx.doi.org/10.36346/sarjet.2019.v01i01.005.
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Honchar, Liubov, Anzhela Malakhova, and Olha Nevkypila. "FINANCIAL FRAUD AND SECURITY." INNOVATIVE ECONOMY, no. 3-4 (2021): 170–74. http://dx.doi.org/10.37332/2309-1533.2021.3-4.24.
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Purpose. The aim of the study is to characterize the features of financial fraud in enterprises and in people’s lives, to identify identification criteria and substantiate practical recommendations for ways to minimize it in modern conditions. Methodology of research. The methodological basis of the study was scientific methods of cognition, based on a systematic approach to solving problems. A number of general and special scientific research methods were used to achieve this goal and obtain research results: dialectical; monographic (when processing scientific publications); system analysis (in the study of types of financial fraud and security of the population); method of analogies and comparisons (in the study of international practice for the prevention of financial fraud); comprehensive analysis (in the formation of conclusions and proposals for solving the tasks) and others. Findings. The article reveals the problems of financial fraud in the current conditions of instability of Ukraine’s economy. Based on the analysis of theoretical and methodological approaches, the essence of the category "fraud" is revealed. Peculiarities of manifestation of different types of financial fraud at enterprises are given, such as: embezzlement or theft by an employee; fraud by managers or managers; investment scams; fraud on the part of suppliers; fraud on the part of the customer or client. The main methods of counteracting financial fraud at enterprises are revealed, in particular: unexpected inspection of the enterprise; legendary check; internal investigation of fraud; obtaining information from open sources. A study of the main modern types of financial fraud against individuals, in particular: social engineering; streaming; phishing; theft of a financial phone number; financial pyramids. The statistical indicators of the negative consequences of the activities of financial fraudsters in Ukraine are given. The directions of avoiding the negative consequences of illegal actions are determined, such as: non-dissemination of one’s personal data; non-disclosure of bank card information, passwords from private accounts on the bank’s website; not opening letters in the mail from suspicious addresses; careful inspection of the ATM before its use; cover the keyboard when entering the PIN code of the bank card; do not install suspicious programs; not to believe offers with earnings of super profits, etc. Originality. For the first time, a comprehensive analysis of the manifestation of various types of financial fraud was carried out and practical recommendations were substantiated on the directions of their minimization, taking into account the best foreign experience. Practical value. Proposed recommendations for combating financial fraud based on the results of the study will help to increase the level of financial security of the population of Ukraine. Key words: financial fraud, financial security, social engineering, streaming, phishing, financial pyramids.
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Widiyati, Dian, Riyan Harbi Valdiansyah, M. Meidijati, and H. Hendra. "The Role of Public Accountants in Fraud Prevention and Detection in the Taxation Sector during Covid-19." Golden Ratio of Auditing Research 1, no. 2 (July 14, 2021): 70–82. http://dx.doi.org/10.52970/grar.v1i2.77.
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Until now, there have been many cases of tax evasion that have occurred in Indonesia. Fraud is an act of deviation or omission that is intentionally carried out to deceive, or other parties suffering losses or fraud perpetrators obtaining financial benefits, either directly or indirectly. The design of this research based on literature review. Tax policy in the majority of countries was oriented towards mitigating health impacts and preventing economic pressure. Recently we have also seen other motives that various countries in the world want to achieve as Secretary-General Tax Report to G-20 Finance Ministers and Central Bank Governors. Quick responses through various tax relaxations came through twenty-two legal products. One of the things that is being studied is changes to VAT policy scheme. Currently, the Indonesian Institute of Certified Public Accountants is submitting an exposure draft related to the SJI. Tax incentives provided during the COVID-19 pandemic has the potential to be misused. The role of Public Accountants in preventing and detecting fraud in the taxation sector can be maximized if the public accountant carries out adequate procedures in accordance with applicable auditing standards. Public accountants need to increase the independence of each individual e.g., Continuing Education Program (PPL).
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Srokosz, Michal, Andrzej Bobyk, Bogdan Ksiezopolski, and Michal Wydra. "Machine-Learning-Based Scoring System for Antifraud CISIRTs in Banking Environment." Electronics 12, no. 1 (January 3, 2023): 251. http://dx.doi.org/10.3390/electronics12010251.
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The number of fraud occurrences in electronic banking is rising each year. Experts in the field of cybercrime are continuously monitoring and verifying network infrastructure and transaction systems. Dedicated threat response teams (CSIRTs) are used by organizations to ensure security and stop cyber attacks. Financial institutions are well aware of this and have increased funding for CSIRTs and antifraud software. If the company has a rule-based antifraud system, the CSIRT can examine fraud cases and create rules to counter the threat. If not, they can attempt to analyze Internet traffic down to the packet level and look for anomalies before adding network rules to proxy or firewall servers to mitigate the threat. However, this does not always solve the issues, because transactions occasionally receive a “gray” rating. Nevertheless, the bank is unable to approve every gray transaction because the number of call center employees is insufficient to make this possible. In this study, we designed a machine-learning-based rating system that provides early warnings against financial fraud. We present the system architecture together with the new ML-based scoring extension, which examines customer logins from the banking transaction system. The suggested method enhances the organization’s rule-based fraud prevention system. Because they occur immediately after the client identification and authorization process, the system can quickly identify gray operations. The suggested method reduces the amount of successful fraud and improves call center queue administration.
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Peltier-Rivest, Dominic. "A model for preventing corruption." Journal of Financial Crime 25, no. 2 (May 8, 2018): 545–61. http://dx.doi.org/10.1108/jfc-11-2014-0048.
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Purpose This paper aims to investigate the extent of corruption globally, explains its social and economic consequences and introduces a model, composed of corporate governance mechanisms, internal controls and red flag analyses, which organizations can apply to prevent corruption. Design/methodology/approach This study uses criminology theories to analyze corruption and its prevention. Findings The global cost of bribery alone is estimated at US$1tn annually, not including costs resulting from non-completion and deficient completion of development projects (World Bank Institute, 2004). This paper shows that an effective prevention model should include a positive work environment and ethical governance; the implementation of a compliance risk management program with fraud risk assessments; an accessible psychological assistance program for employees; regular employee anti-fraud training; the implementation of targeted internal controls such as proper segregation of organizational duties; the adoption of fair compensation levels and realistic individual performance goals; a user-friendly and anonymous reporting mechanism; and independent and regular analyses of abnormal patterns (red flags). Research limitations/implications This paper extends previous research by tying together disparate factors into a cohesive model for the prevention of corruption. Practical implications The prevention model developed in this paper assists in deterring corruption, improving internal controls, improving the likelihood of detection and reducing opportunities to perpetrate corruption. By reducing the risk of corruption, this model also helps organizations and governments reduce project costs (public spending) and improve project quality, thus promoting economic competitiveness. Originality/value A comprehensive prevention model is developed to help curtail corruption and its devastating effects.
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Khalaf Al Hattali, Sultan Saleem, Shaik Mazhar Hussain, and Anilloy Frank. "Design and development for detection and prevention of ATM skimming frauds." Indonesian Journal of Electrical Engineering and Computer Science 17, no. 3 (March 1, 2020): 1224. http://dx.doi.org/10.11591/ijeecs.v17.i3.pp1224-1231.
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ATM Skimming is a major concern that needs to be addressed with a specific solution. ATM Skimming is done in two steps. One is stealing the Personal Information that is stored on the Debit card / Credit card using Rain cover connected to the card reader slot (ATM’s real card slot). The second is installing a Fake keypad that can capture the pin code when the card holder enters pin details. Few researchers have proposed solutions to address the issue using Image Processing techniques. However, it does not provide a complete solution in a long term. Hence it is of paramount importance to provide ATM with high security features. In order to solve the issue of ATM Skimming, An Embedded System design is proposed. The research is carried out in two phases. One is detection phase and the second is Prevention Phase. In the detection phase, Hardware components such as Arduino Mega, Force Sensing Resistor (FSR), GPS, GSM and Buzzer are used. Arduino Mega acts as a Central Processor that processes the information received from Force sensing resistor (FSR) and send SMS Messages to ROP and Bank Officials using GSM and informing them about the ATM Location using GPS where the Fraud is taking place. Buzzer can be used at the ATM Locations to alert nearby people. In the prevention Phase, as a preventive measure a Onetime password (OTP) technique is used. If a fraudster somehow succeeds in Fixing fake key pad and Rain Cover at ATM’s real card slot, When he tries to insert debit card, An OTP will be generated and is sent to the Card Holder which in turn he can know someone is trying to make Transactions and quickly he can ask bank officials to Block his account and inform ROP about the same. Expected findings of the proposed work is to detect Fake keypads and Fake card readers using FSR placed at the edges of Original Keypad and card reader slot. Sending messages to ROP, BANK OFFICIALS and CARD HOLDER using GSM. ATM locations are identified using GPS. Buzzers are used to alert nearby people.
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Mustafa, S., Kartini, Darwis, and Syamsuddin. "THE EFFECT OF INTERNAL CONTROL AND INDIVIDUAL MORALITY ON FRAUD PREVENTION IN PT. REGIONAL DEVELOPMENT BANK OF SOUTHEAST SULAWESI." Russian Journal of Agricultural and Socio-Economic Sciences 109, no. 1 (January 28, 2021): 174–82. http://dx.doi.org/10.18551/rjoas.2021-01.23.
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Medvedeva, Elena, and Sergey Kroshilin. "Financial fraud during the COVID-19 pandemic." Population 25, no. 1 (March 22, 2022): 29–42. http://dx.doi.org/10.19181/population.2022.25.1.3.
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The purpose of this study was to study new ways of financial fraud faced by Russian society during the pandemic. The object of the study is the Russian society, the subject is financial fraud schemes that became possible due to restrictive measures and the rapid development of online commerce during the pandemic. Modern society is facing various challenges, which are caused not only by progressive development technologies, innovations, changing technological patterns, rapid development and widespread introduction of information (digital) technologies, but also by factor whose appearance was difficult to predict — the Coronavirus pandemic. It has only been two years since the whole world has been living in the pandemic, but during this time the behavioral attitudes of society have undergone significant changes: from the "self-isolation regime" and the mandatory "wearing" of masks — to working "remotedly" and the mandatory presentation of QR codes. Recent changes largely predetermined the rapid development of information and communication technologies, which affected real communication and the possibility of changing online behavior: shopping, getting certificates and documents, working remotely—50 to 80% of employees in various fields had to work at home. Going online entailed not only increased demand for communication services, development of Internet commerce, Internet banking (at the beginning of the pandemic, a mortgage purchase of housing was carried out completely online for the first time), but also contributed to creation of new types of financial fraud through communication technologies. The article uses the materials of the Federal Statistical Service, VTSIOM, the Bank of Russia, RBC, analytical materials of financial structures, analysts and the results of studies, including those by the author, conducted in the south-east of Moscow oblast.The results of the conducted research can be significant for prevention of fraudulent actions, as well as during classes on financial literacy of the population. The relevant authorities, committees and commissions can use these materials to conduct explanatory activities for the population.
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Gupta, P. K., and Sanjeev Gupta. "Corporate frauds in India – perceptions and emerging issues." Journal of Financial Crime 22, no. 1 (January 5, 2015): 79–103. http://dx.doi.org/10.1108/jfc-07-2013-0045.
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Purpose – The purpose of this paper is to examine the nature and perception of corporate frauds in India and their consequences in the business and economic systems, and it highlights the emerging issues so that existing legal and regulatory obligations can be redefined and structured. Design/methodology/approach – An exploratory research was conducted through a combined mode of literature review; case studies; structured questionnaires from 346 sample companies; and 43 interviews with the corporate professionals, management, investors, government offices and authorities having wide experience. Findings – It was found that the regulatory system is weak, and there is dire need to redefine the role of auditors. Coordination among different regulatory authorities is poor, and after every scam, there is a blame game. Reporting of fraud and publication of fraud prevention policy are missing. Banks and financial institutions are ineffective on due diligence, and there is a lack of professionalism on the board and other executive levels in companies. Research limitations/implications – This study assumes that fraud could be mitigated by proactive and conscious action by auditors, and corporate executives are willing to avoid perpetrating financial fraud despite pressures from investors, government securities regulators and exogenous market fluctuations. The authors relied on the honesty of the respondents during the sample collection and recorded semi-structured interviews. A minimum level of five years’ work experience relative to preventing, detecting or investigating fraud has been considered a valid determinant in selecting the purposive sample. Practical implications – The study suggests mandatory publication of fraud prevention policy; constitution of special purpose corporate offence wing; recognition to companies for improved corporate governance; true adoption of International Financial Reporting Standards; due diligence by banks and financial institutions; compulsory appointment of professionals by shareholders and fixation of responsibility on independent professionals; intellectualisation of audit committee; and more powers to the regulators, especially Securities and Exchange Board of India. Social implications – Prevention of corporate frauds reduces anxiety, improves corporate image and builds up confidence of the investors, which is essential for resource channelling in financial markets. Originality/value – The research work is based on a thorough analysis of regulatory framework and fraud case studies and primary data collected from companies, banks and other government and developmental institutions.
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Alfian, Nurul, Tarjo Tarjo, and Bambang Haryadi. "THE EFFECT OF ANTI FRAUD STRATEGY ON FRAUD PREVENTION IN BANKING INDUSTRY." Asia Pacific Fraud Journal 2, no. 1 (June 2, 2017): 61. http://dx.doi.org/10.21532/apfj.001.17.02.01.05.
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ABSTRACTThe purpose of this study is to examine the effect of anti fraud strategy on fraud preventionin in banking industry. The data are collected through questionnaires distributed to front liners, marketing, and back office. The sampling technique used is proportionale sampling method with 80 respondents. The research data are analysed using quantitative method, particularly explanatory research approach. In this regard, the researchers use Structural Equation Model (SEM) and Partial Least Square (PLS) with Warrpls 5.0 program. The findings of this study show that prevention pillar, detection pillar and investigation pillar have an effect on fraud prevention in banking industry.