CHAPTER ONE
INTRODUCTION
1.1 Background of the study
Fraud is an intentional deception made for personal gain or to damage another individual. Fraud is a crime and civil law violation. Defrauding people of money is presumably the most common type of fraud. Fraud is a threat to an organization’s going concern and its interaction with external stakeholders such as customers, suppliers, financiers, and business partners which can result in huge financial damage. Banking industries holds a critical position in the country’s financial system and plays a vital role in the development of a nation’s economy.