CHAPTER ONE

INTRODUCTION

Fraud is whenever form is limitless in classification. This is the more reason why courts and writers on fraud haven / ways sly away from giving it a particular definition last discuss it under whatever form it prevent itself, so here, there has never been a single definition of term fraud. Not with standing the varied meaning accepted to the concept of financial fraud the concept of financial fraud the author address the subject with following working condition.

            Oxford and charison dictionary simply define fraud as criminal deception. Act of decisive trick, cheating swindling person on thing that dictionary defined fraud as an act of deceitful behaviour for the purpose of gain which may be perishable by law.

            However in the mind of civil court of justice fraud may be said to cover ill acts. Commission and co concealment which involves a breach of legal or equitable duty trust or confidence justly reposed and ingenious to another or by which in undue advantage is taken of another.

            Bunmi Fagbemi 1990, while citing the dictionary of dictionary by penny, defined fraud to mean an act or course of deception deliberately practiced to gain unlawful or unfair advantage such deception directed to the detriment of another R.B Awasanya widely see fraud any deliberate action in whatever form (writer, spoken physical) designed to deprive a legitimate owners of his / her assets properties or rights further more, osboni’s concise law dictionary say that fraud is obtaining of a material advantage by unfair or wrongful means it involves more obliquity.

            Then finally, Wole Adewumi describes financial fraud as a conscious premeditated action of a person thus the intention of the monetary gain thus having closely studies these perspective one may correctly see bank financial fraud a deliberate act by individual or group of finding within or without the Nigeria banking system to cheat deceive, swindle or manipulate in order to disposes the banks depositor / shareholders of their fraud fund.

            Therefore, fraud or forgeries customer with a view to take benefit of the excess proceed or the shortfall.

            Despite several definition of fraud, the author believes that one so far given are rather appropriate. Adequate and inspiring for the purpose in which the research work intend to achieve. This is because they contain the basic of fraud which include that:

• There must be deceit or deception directed to the detriment of another.
• A false representation has been made knowingly or without believes in its truth or recklessly whether it is truth or false.
• To obtain damage for deceit it must be proved that the defendant intended that the plaintiff should act on it, and suffered damages in consequence.

1. 1. This material content is developed to serve as a GUIDE for students to conduct academic research work
2. 2. As a source for additional understanding of the subject.
3. 3. As a source for ideas for your own research work (if properly referenced).
4. 4. For PROPER paraphrasing (see your university definition of plagiarism and acceptable paraphrase)
5. 5. Direct citing (if referenced properly)
Thank you so much for your respect to the authors copyright.