Fraud and Internal Controls in Banking

Paper Summary:

This paper studies modern-day, banking-related fraud crimes. The author examines a range of fraud crimes -- from credit card theft to check washing to computer-assisted laundering. The paper also critiques the variety of methods used to prevent these crimes and/or apprehend the criminals.

From the Paper:

"Credit card fraud is one type of fraud, but it has several different aspects and several different security concerns that make this type of fraud so prevalent. The pieces of plastic, which were once used for convenience of purchases, now are integrated into society's daily money management. Credit cards are used for everything from cash to entertainment to paying bills. The easiest type of credit card fraud is simply the stealing of credit card numbers, which are then used to purchase products or receive cash fraudulently. The card numbers may be stolen from customer databases, online transactions, or by intercepting the mail. Issuing banks do not even attempt to stop fraud from this angle, as it is nearly untraceable."

More papers on Fraud and Internal Controls in Banking:

• Case Study # 118903 : "Internal Controls"
• Analytical Essay # 25034 : "Internal Controls in Accounting"
• Persuasive Essay # 116202 : "Societe Du Generale Scandal"

APA Citation:

MLA Citation: