BibTeX
@MISC{Woods_fraudand,
author = {Ian Woods},
title = {FRAUD AND THE AUSTRALIAN BANKING INDUSTRY},
year = {}
}
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Abstract
In this paper reviews fraudulent activity from the perspective of the banking industry. looks at the types of fraud and the response measures taken by the banking industry to reduce fraudulent activity. Fraudulent activities, especially the common garden variety, do not have the same aura as violent criminality. They have that air of invisibility and do not appear to provide the attention grabbing headlines needed to sell newspapers. Recent media attention to several expatriate fraudsters is the exception to the rule. On the other hand, violent criminals such as armed bank robber Brendan James Abbott, receive disproportionate media attention whilst fraudsters go about their ‘activities ’ with little, if any, publicity. The community generally and the banking industry in particular suffer financial losses from fraud that far outstrip those resulting from armed attacks. Therefore, it is perhaps surprising that fraud and the damage that is causes does not receive greater media coverage. Let us now look at the size of the problem and ascertain what fraud is costing the community. Fraud- the Size of the Problem It is an understatement to say that it is difficult to estimate the cost of fraudulent activity to the
Keyphrases
fraudulent activity banking industry australian banking industry financial loss armed bank violent criminality common garden variety violent criminal brendan james abbott recent medium attention several expatriate fraudsters disproportionate medium attention whilst fraudsters medium coverage
