TYPOLOGY OF FINANCIAL FRAUD IN UKRAINIAN COMMERCIAL BANKS
Journal Title: Вісник Університету банківської справи - Year 2017, Vol 0, Issue 1
Abstract
The problem of the financial fraudin Ukrainian commercial banks and financial consequences it entails is reviewed in th earticle. The features of a financial fraud through its entity common for the banking sector of Ukraine are analysed. Subsequently the study presents a financial fraud typology with the following entities prevalent in Ukrainian commercial banks: financial fraud, which leads to loss of funds due to wealth extraction from the commercial bank and subsequently the latter going bankrupt; financial fraud, which leads to loss of funds due to unfair commercial bank borrower fraudulent procurement of finances and subsequently bank going bankrupt; financial fraud, which leads to loss of funds caused by a commercial bank lending finances to commercial bank owners and management affiliates; financial fraud, which leads to loss of funds due to a commercial bank loaning front parties or persons providing lost or falsified documents; financial fraud, which leads a commercial bank to loss of cash due to a fraudulent release of security interests, giving / receiving of false security interests; financial fraud, which leads commercial banks to loss of funds due to its deposition on correspondent accounts in foreign commercial banks of dubious reputation; financial fraud, which leads commercial banks to money loss due to the borrowers` location or their property, security interests, surety, etc. being on the temporarily occupied territories and in the area of antiterrorist operation; financial fraud, which leads to a fraudulent acquisition of commercial bank customer funds and a commercial bank itself, as a result of the transfer to an affiliated non-bank financial institution; financial fraud, which leads to a fraudulent acquisition of commercial bank customer funds and a commercial bank itself, as a result of unauthorized interference with the banking software providing cash flow, ATM services etc.
Authors and Affiliations
Сергій Мельник
Keywords
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