BANKING FRAUDS AND THE IMPORTANCE OF FORENSIC ACCOUNTING AND FINANCIAL FRAUD EXAMINER

ABSTRACT

Frauds are no novice in the Banking sector. Siphoning of funds and fund diversion is a very common and active fraud detected in banks. Such frauds are often identified with the aid of financial fraud examiners and forensic accounting. Hence, the stream of forensic accounting warrants more exploration and the same is a prominent need of the day. Before concluding the paper, the author suggests that every Bank should employ at least one forensic accountant/financial fraud examiner as a counter blast against the rising frauds.

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