Determinants of Fraud Prevention of Listed Deposit Money Banks in FCT Abuja, Nigeria
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Background: The study titled the determinants of fraud prevention of listed deposit money banks in FCT Abuja, Nigeria with the independent variable as forensic investigation services and forensic litigation support services while the dependent variable as fraud prevention.
Methodology: The survey research design which made use of primary data drawn from five-point likert scale structured closed-ended questionnaire of fifteen listed deposit money banks in FCT Abuja, Nigeria. The theories in which this study pinned on were profession theory and fraud diamond theory. The SPSS version 25 software statistical package was used for coding of the questionnaire respondents and panel ordinary least square for the study. The multiple regression model was adopted in determining the extent of the effect of independent variable (forensic investigation services & forensic litigation services) on dependent variable (fraud prevention) of the banks under consideration.
Results: The result of the regression analysis revealed that forensic investigation services and forensic litigation support services have negative and insignificant effect on fraud prevention of listed deposit money banks in FCT Abuja, Nigeria. The implication of the result is that any unit increase in the services of forensic investigation and litigation support will result to a unit decrease on fraud prevention and vice versa.
Recommendations: Based on the findings, the researcher recommended that the management should increase the use of forensic investigation services to help reduce the fraudulent activities being committed in the banking sector in Nigeria. Also, the government should provide more evidence strategies (documental, oral, digital etc.) to help support litigation activities been presented in the court by the forensic accountants.
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