BANK FRAUD: PERCEPTION OF BANKERS IN THE STATE OF QATAR

Fraud has been the major risk that attacks the structure of firms regardless of the size or the industry. Latest study by PriceWaterhouse Coopers (2007) showed that over 43% of companies surveyed from 40 countries from all over the world had reported losses from economic crimes during the previous two years. The study presented that a total of US$ 4.2 billion loss over the last two years was reported by these companies. It is estimated that undiscovered fraud cost US $ 5.7 billion due to the lack of internal controls of the organization. The objectives of this research were to study the reasons behind fraud in general and specifically in banking sector in thge State of Qatar by concentrating on the areas that the fraud had taken place. Another objective was to evaluate the current internal processes that had been utilized to detect fraud, reaching to a stage of designing a framework or solution to minimize fraud in the banking sector in the State of Qatar.