The role of internal controls on combating Financial frauds and money laundering: A case of NMB PLC of Tanzania

Simple item page
dc.creatorRaballa, Boma Obunga
dc.date2016-08-05T11:58:36Z
dc.date2016-08-05T11:58:36Z
dc.date2013
dc.date.accessioned2018-03-24T11:52:25Z
dc.date.available2018-03-24T11:52:25Z
dc.descriptionA Dissertation Submitted to Mzumbe University Dar es Salaam Campus ollege in Partial Fulfillment of the Requirements for Award of the Degree of Master of Business Administration (MBA) of Mzumbe University
dc.descriptionOne of the greatest challenges facing commercial banks today is fraudulent activities and Money Laundering. The continuous growth in technology and lack of proper internal control system has put most banks in the stressful and unrest atmosphere. This study was confined in analyzing the role played by Internal Control in combating financial frauds and money laundering. NMB experience a number of transactions which require detail pre and post review to ensure they comply not only with BOT requirements but also NMB policy, given it’s the largest bank in Tanzania both when ranked in branch network and customer base. A case study design of the research has involved 30 NMB staffs. Four methods of data collection were employed which are interview, questionnaires, observation and documentations. Data found were analyzed through Statistical Package for Social Scientist (SPSS). Findings from the study revealed that, internal control plays a significant role in combating financial frauds and Money laundering. Most respondent commented that, if these appropriate and satisfactory were lacking the bank would have experience a significant number of frauds and money cleaning cases. Despite the comments given above, respondents’ recommends the bank to adopt both proactive and reactive measure in dealing with frauds and money laundering issues while stress the need to deal with criminal at the most vulnerable point. Recommendations include: The government to make innovations into the present policy, the bank of Tanzania (BoT) to improve strategies for monitoring and management of other financial institutions, the same research to be done in other banks and other issues in NMB PLC which influence the performance of the bank to be studied.
dc.identifierhttp://hdl.handle.net/11192/1552
dc.identifier.urihttp://hdl.handle.net/11192/1552
dc.languageen
dc.publisherMzumbe university
dc.subjectFinancial frauds
dc.subjectmoney laundering
dc.titleThe role of internal controls on combating Financial frauds and money laundering: A case of NMB PLC of Tanzania
dc.typeThesis

Files

Collections

EMPA - Public Administration- Executive Mode