Joint Institutions Acquire Advanced Level Qualification with High Success Rate

[Insert institution names] have achieved a significant milestone by acquiring the Advanced Level qualification, with an impressive 86% of respondents passing. This achievement demonstrates the institutions’ commitment to excellence and their ability to attract top talent.

Key Findings

• Only 43% of respondents held bank-related qualifications such as Institute of Bankers Certificate or Diploma (IOBZ)
• None had professional digital forensic qualification
• 82% of total respondents underwent an orientation course in digital forensic auditing

Fraud Incidence and Prevention

The survey also focused on fraud incidence and prevention. According to the findings:

Types of Fraud Experienced by Banks

• Accounting fraud: 76%
• Money transfer: 70%
• Identity theft: 68%

These results are consistent with global trends, as noted in Singh et al.’s (2013) Indian Risk Survey.

Causes of Rising Fraud Cases

• Lack of oversight by line managers or senior managers on deviations from existing electronic process/controls: 67%
• Current business pressure to meet set targets and difficult business scenarios

Challenges in Fraud Prevention

Banks face several challenges when it comes to preventing fraud. According to the survey:

Major Challenges

• Lack of sufficient resources: 53%
• Lack of fraud detection tools and technologies: 49%
• Fragmented fraud prevention approach: 35%

Investment in Technology and Awareness Improvement

To address these challenges, respondents suggested:

Solutions

• Investment in new technology to reduce fraud vulnerability: 67%
• Awareness improvement is necessary: 63%
• Increase in budget/staff should be considered: 15%

Overall, this survey highlights the importance of investing in technology and improving awareness to prevent fraud. By addressing these challenges, banks can better protect themselves against fraudulent activities and maintain the trust of their customers.