The Embankment of a Thousand Miles Collapses in the Ant's Nest:An Experimental Study on the Formation Mechanism of Internal Fraud Risk in the Banking Industry
Human-induced operational risk is the operational risk directly caused by employees'misbehavior.It is the type of operational risk with the highest frequency and loss intensity in commercial banks.According to the difference in the initiative of misbehavior,the human-induced operational risk can be subdivided into human error risk and internal fraud risk.The nature and impact of internal fraud risk caused by employees'willful misbehavior are more serious,such as defrauding and embezzling property,or violating laws,regulatory rules,or internal systems.Researches pointed out that the key to optimizing operational risk measurement models and improving risk management effectiveness lies in the mastery of risk drivers.Therefore,it focuses on the forma-tion mechanism of internal fraud risk in this paper,in order to provide theoretical support and basis for operational risk management.At present,there are few studies on the formation mechanism of internal fraud risk in the banking industry,but experimental evidence and theoretical explanations have been provided from the perspectives of institutional culture and colleague behavior.In addition,numerous studies on unethical decision-making provide evidence on individual psychological characteristics.Based on integrating the above characteristic factors,the scenario characteristic factor of internal fraud is introduced,and a systematic framework of the formation mechanism of internal fraud risk among employees in the banking industry is constructed.In this research,a randomized controlled trial is used to test this theoretical framework.Taking 244 employees of a commercial bank as effective samples,a random experiment in a completely unsupervised daily environment is carried out.The participants were randomly divided into three groups according to different decision-making scenarios to intervene with scenario characteristic.On this basis,mature scale tools are used to measure the personal psychological characteristics of employees and situational characteristics in the decision-making process,and a coin toss game is used to observe theinstitutional ethical culture.In addition,the actual misbehavior data of the bank's employees before and after the experiment are obtained based on the research project in cooperation with the bank.The research shows that scenario characteristic has a significant impact on the decision-making results and decision-making process of bank employees'internal fraud:the weaker the pres-sure employees feel in the scenario,the stronger the fraud intention;in different moral intensity scenarios,the impact of personal psychological characteristics and organizational environmental characteristics is different.The positive impact of personal psychological characteristics is more significant in low-intensity scenarios,and the inhibitory effect of organizational environmental characteristics,especially department culture,and the same group infection of colleague misbehavior are more significant in high-intensity situations.This research further enriches the theoretical research on the formation mechanism of operational risk,especially human-induced operational risk and provides a behavioral motivation explanation for the loss distribution characteristics of"low risk and high frequency"of operational risk in banking industry.In addition,the research conclusions of this paper provide a theoretical and empirical basis for commercial banks to implement key risk indicator tools,which will help commercial banks optimize operational risk measurement models and improve dynamic control technology.Moreover,management inspiration is provided for commercial banks to optimize the dynamic prevention and control mechanism of human-induced operational risk.
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