Financial fraud in the banking sphere: essence, types and current state




financial fraud, bank fraud, manipulation, consequences


The article examines the problem of the spread of bank fraud. It has been established that most banking institutions identify fraudulent actions as the main threat to their security - loss of financial resources, distrust of customers and partners. The article investigates theoretical approaches to the concept of "financial fraud". Characterized the main ways of committing fraud in the banking sector. The article reveals the full cycle of banking fraud. By bank fraud we mean a set of criminal acts and manipulations committed for the purpose seizure of funds of a commercial bank or its customers. An analysis of the frequency of fraudulent acts and losses incurred as a result of banking fraud in Ukraine during 2017-2021 years.


Download data is not yet available.


] Global study on banking fraud. Available from : (accessed 25.05.2022)

] Prevention of fraud by methods of social engineering. Available from : payments / safety /

] Report of the State Financial Monitoring Service of Ukraine. K., 2018. 90p.

] Levin V.V., Kozlov D.N. (2013). Methods and structure of the system of prevention of fraud in consumer lending (part 1). Financial risk management. 2013. №1 (33). Pp. 26-37.

] Lilly P. (2005). Dirty Deals. The secret truth about the world practice of money laundering, international crime and terrorism. Rostov on Don: Phoenix, 2 400 p.

] ISA № 240 “Auditor’s Responsibility for Fraud in the Audit of Financial Statements” Available from :

] Melnik S.S. (2017). Classification of financial fraud in a commercial bank. Scientific Bulletin of Kherson State University. Issue 23. Part 3. pp. 89-92. Available from : (access date: 24.05.2022)

] The NBU has published a list of signs of risk and fraud in banks. Available from :

] Rodchenko S.S., Zhivko Z.B. (2020). Financial fraud in the banking sector: essence, types and current state. Scientific Bulletin of Uzhhorod National University. Issue 31, pp.103-108. Available from : 0%b8%d0%b2%d0%ba%d0%be%20%282%29.pdf (date appeal: 25.05.2022)

] Seventy percent of securities accounted for on the balance sheet of insolvent banks – “garbage”, and were used to withdraw liquid assets Available from :

] Typological research of the State Financial Monitoring Service of Ukraine for 2021, 2020, 2019, 2018. Available from :

] Shadow economy in Ukraine. Available from : (date appeal 22.05.2022)

] Trends in the shadow economy in Ukraine in 2018 // Official website of the Ministry of Economic Development, Trade and Agriculture of Ukraine. 2019.

] Ukrainian Interbank Association of EMA Payment Systems Members. Available from :

] The Guarantee Fund appealed to the Prosecutor General's Office of Ukraine and the National Anti-Corruption Bureau of Ukraine. Available from :

] Chernyavsky S.S. (2010). Financial fraud: methodological principles of investigation: a monograph. Kyiv: Hi-Tech Press, 624p.

] Chunitska I.I. (2017). Measures to prevent financial fraud and money laundering are prohibited by criminal means. Problems of economics № 2, Pp. 282-292. Available from : (access date: 24.05.2022)

] Shaten P.-L. (2011). Prevention of money laundering and terrorist financing: A practical guide for banking professionals / P.-L. Shaten et al.: lane with English Moscow: Alpina Publishers, 316 p.

] Leonov S.V., Kuzmenko O.V., Koibichuk V.V., Kushnerev O.S. (2021). Development of a business process model for automated monitoring of financial transactions by the bank to combat money laundering. Bulletin of SSU. Series "Economics", № 1, pp.9-16. Available from : (access date: 24.05.2022)


Abstract views: 331
Downloads: 191



How to Cite

Kharabara, V., Kharabara, V., & Greshko, R. (2022). Financial fraud in the banking sphere: essence, types and current state. Political Science and Security Studies Journal, 3(2), 11-19.