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Phenomenon of bank scams in Bangladesh: Analysis on behavioral issues

Author

Listed:
  • Md. Khaled Bin Amir

    (Department of Banking and Insurance, University of Dhaka, Bangladesh)

  • Md. Zobayer Bin Amir

    (Department of Economics, Jagannath University, Bangladesh)

  • Mohammad Ariful Islam

    (Department of Banking and Insurance, University of Dhaka, Bangladesh)

Abstract

The primary purpose of this research study is to reflect on financial anomalies, especially bank scams in Bangladesh. This study is an empirical approach developed through a well-structured Likert-scaled questionnaire to indicate different human behaviors, psychologies, and emotions that considerably impact financial incongruities in Bangladesh. The proposed model supported the structural equation model (SEM) and used SPSS Amos (Version 24) to build an attitudinal and behavioral model that reflects the complex relationships segment of this paper. Results show people try to rationalize irrational, unethical, and impertinent things and issues to achieve self-gain. Furthermore, corporations are treated as an entity for which they cannot be punished. Apart from this, human natures like greediness, dissatisfaction with what people have, societal status, possession and position, competition with peer groups for luxury, and tendency to imitate bad things are also responsible for bank scams in the Bangladeshi economy. Last but not least bad loan and default culture developed in the banking industry of Bangladesh only lacks execution laws, rules, and regulations. Key Words:Bank Scam, Human nature, Default culture, Rationally irrational and Corporate entity

Suggested Citation

  • Md. Khaled Bin Amir & Md. Zobayer Bin Amir & Mohammad Ariful Islam, 2022. "Phenomenon of bank scams in Bangladesh: Analysis on behavioral issues," International Journal of Research in Business and Social Science (2147-4478), Center for the Strategic Studies in Business and Finance, vol. 11(7), pages 189-200, October.
    • Handle: RePEc:rbs:ijbrss:v:11:y:2022:i:7:p:189-200
    DOI: 10.20525/ijrbs.v11i7.1993
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    References listed on IDEAS

    as
    1. Kimberly Blanton, 2012. "The Rise of Financial Fraud," Issues in Brief ib2012-5, Center for Retirement Research, revised Feb 2012.
    2. Alain Cohn & Ernst Fehr & Michel André Maréchal, 2014. "Business culture and dishonesty in the banking industry," Nature, Nature, vol. 516(7529), pages 86-89, December.
    3. Arjan Reurink, 2018. "Financial Fraud: A Literature Review," Journal of Economic Surveys, Wiley Blackwell, vol. 32(5), pages 1292-1325, December.
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