LITIGATION SUPPORT AND MONEY LAUNDERING CONTROL IN COMMERCIAL BANKS IN NIGERIA

Abstract

The study examined litigation support and money laundering control in commercial banks in Nigeria. The study adopted correlational survey research design. The population for this study is twenty-one (21) commercial banks in Nigeria. The sample size is 300 respondents in twenty-one (21) commercial banks in Nigeria. The instrument for this study was the questionnaire. The research questions were analyzed using Mean and Standard Deviation in the distributive statistics tables. The formulated hypotheses were tested using the simple bivariate regression analysis. The findings of the study among others were that; there is a significant relationship between litigation support and money laundering control commercial banks Nigeria.  Based on the findings of the study, the following recommendations are therefore made; shareholders and directors of banking industry should provide regular training on data mining techniques to equip their accounting staff with the relevant and up-to-date skills, abilities, attitude and competences for money laundering detection. The Institute of Chartered Accountants of Nigerian should organize regular conferences, seminars and workshops for their members where emerging trends in anonymous communication are highlighted to help professional accountants and auditors detect and prevent frauds or at least reduce the incidence to save their employers.