Documentary credit fraud against banks: analysis of Korean cases
Purpose – This paper aims to explore the feature and mechanism of a new type of documentary credit fraud that victimizes banks’ issuing letters of credit (L/C), harming neither the importer nor the exporter and seeks to suggest possible measures to tackle it. Design/methodology/approach – This study analyzed 30 cases of documentary credit fraud against banks that were detected by the Korea Customs Service (KCS) and interviewed three key customs investigators to interpret the case reports more accurately and gain a deeper understanding into the mechanisms governing the fraud. This study draws on routine activity theory and crime pattern theory to analyze the opportunity structures of this fraud. Findings – This study found that the importer that engaged in the fraud cases had established a solid business relationship with the exporter and had established trust with the victimized banks; the banks, despite the fact that they had their own risk management systems to screen out unqualified L/C applicants, wer...
A systematic literature review on frauds in banking sector

Purpose
Banking industry peculiarly has become soft target for several pernicious deceptive and fraudulent activities. The purpose of this paper is to systematically review the literature published in past 20 years on bank frauds and present a holistic view on causes and consequences of bank frauds and measures to curtail this menace. Towards the end the paper provides avenues for future research.


Design/methodology/approach
A systematic literature review approach is used in this study and articles are selected via pre-set inclusion criteria. The literature is mapped on the basis of databases, year of publication, country of study and journal of publication. This paper is based on 70 selected articles published in four prominent databases between 2000 and 2021.


Findings
This study reveals that frauds in banking industry have become a matter of grave concern for almost all countries across the globe, causing significant financial and non-financial damages to banks, customers, other stakeholders and economy. Numerous factors such as pressure and opportunity are responsible for fraud occurrence. This study further evinced that banking institutions inevitably should have a robust fraud risk management in place to prevent, detect and respond to defalcation.


Originality/value
To the best of the authors’ knowledge, this is the only paper among 70 selected articles which systematically reviews the literature published in past 20 years and provides a comprehensive view on all aspects related to bank frauds.

Enterprise Risk Management: A Manager's Journey
Prologue. Chapter 1: A New Journey. Chapter 2: Jetting Off. Chapter 3: The Warmup. Chapter 4: The Conference Day. Chapter 5: Conference Session One. Chapter 6: Conference Session Two. Chapter 7: Conference Session Three. Chapter 8: Conference Session Four. Chapter 9: Conference Session Five. Chapter 10: Conference Session Six. Chapter 11: Conference Session Seven. Chapter 12: Conference Session Eight. Chapter 13: Conference Session Nine. Chapter 14: Conference Session Ten. Chapter 15: Conference Session Eleven. Chapter 16: Conference Session Twelve. Chapter 17: The Workshop. Chapter 18: The Island. Chapter 19: Risk Management in Action. Chapter 20: The Journey Continues. Chapter 21: The End of the Road. Index.