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When one talk about the growth and development of a nation's economy, hardly can there be any living soul that will not agree with the spur catalyst is the nation's bank, whether in a developed or developing economy. However, the ability or inability of banks to successfully fulfill their responsibility of functioning well for the country economic health has been a central issue in some of the financial crisis that has been witnessed so far in worldwide. With this respect, scholars ascertain that fraud and its management have been the impulsive factor in the distress of banks, and as much as various measures have been taken to minimize the incidence of fraud, it still rises by the day because fraudsters always device tactical ways of committing fraud. Accordingly, although this phenomenon is not unique to the banking industry or peculiar to Ethiopia alone, the high incidence of fraud within the banking industry has become a problem to which solution must be provided in view of the large sums of money involved and its adverse implications on the economy.
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Muhammed Aragie, a native of Ethiopia, was educated at Bahir Dar University (BA in accounting) and Addis Ababa University (M.Sc. in accounting and finance). Currently, he is delivering accounting and finance courses for undergraduate students at college of business and economics, Jimma University.
