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Sociological Analysis of Internet Banking Fraud in Nigeria: Patterns and Effects

Author

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  • Okeh, Peter Igboke

    (Department of Criminology and Security Studies, Alex Ekwueme Federal University, Ndufu-Alike, Abakaliki)

  • Onuoha, Ogobuchi Onuoha

    (Department of Sociology, Ebonyi State University, Abakaliki)

  • Ebeke, Walter Ibiam

    (Department of Criminology and Security Studies, Alex Ekwueme Federal University, Ndufu-Alike, Abakaliki,)

  • Echee Solomon Amechi

    (Department of Psychology, Ebonyi State University, Abakaliki)

Abstract

The phenomenal growth in the number of those who subscribe to internet banking around the world, and particularly in Nigeria, has led to an increase the number of potential Nigerians vulnerable to internet banking fraud victimization. The main thrust of the paper is to explore sociologically the causes and effects of internet banking fraud on the residents in Nigeria who are using banking services. The study being basically a review one and theoretical in nature, relied primarily on secondary data involving the use of internet to access related/relevant literature. Strain and Fraud diamond theories formed the theoretical orientation of the study. From the review, the study found that morbid desire to get rich quick and insecurity of job are the major causes of internet banking fraud. Credit card/debit card fraud and identity thefts are the two patterns of internet banking fraud. While Lack of trust among the banking public was the major effect. However, the study recommends among others, for government agencies, law enforcement agencies, intelligence agencies and security agencies to fight curb internet banking fraud. There is need for them to understand both the technology and individuals who engage in internet banking fraud.

Suggested Citation

  • Okeh, Peter Igboke & Onuoha, Ogobuchi Onuoha & Ebeke, Walter Ibiam & Echee Solomon Amechi, 2025. "Sociological Analysis of Internet Banking Fraud in Nigeria: Patterns and Effects," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 9(4), pages 2639-2650, April.
    • Handle: RePEc:bcp:journl:v:9:y:2025:issue-4:p:2639-2650
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    References listed on IDEAS

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    1. Katherine J. Barker & Jackie D'Amato & Paul Sheridon, 2008. "Credit card fraud: awareness and prevention," Journal of Financial Crime, Emerald Group Publishing Limited, vol. 15(4), pages 398-410, October.
    2. Kraemer-Mbula, Erika & Tang, Puay & Rush, Howard, 2013. "The cybercrime ecosystem: Online innovation in the shadows?," Technological Forecasting and Social Change, Elsevier, vol. 80(3), pages 541-555.
    3. Tiffany Gates & Katy Jacob, 2009. "Payments fraud: perception versus reality - a conference summary," Economic Perspectives, Federal Reserve Bank of Chicago, vol. 33(Q I), pages 7-13.
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