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Information and Communication Technology and Fraud Cases of Listed Deposit Money Banks in Nigeria

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Abstract

The study examined the effect of information and communication technology on fraud cases of deposit money banks in Nigeria over the period of 11 years (2009-2019) with a view to investigate the effect of automated teller machine, point of sale, mobile banking payment on number of fraud cases. Time series data were collated from CBN and NDIC statistical bulletin. The data were analysed via regression analysis which involved ordinary least square estimation technique. The study found that Automated teller machine (ATM) and mobile banking payment (MBP) have positive and significant effect on number of fraud cases, also, point of sale (POS) has a negative and significant effect on number of fraud cases in Nigerian deposit money banks. It was concluded that, the advent of information and communication technology (ICT) positively contributed to financial scandal in deposit money banks in Nigeria. Thus, the study recommended that management of deposit money banks in a bid to make profit should ensure to close all loopholes resulting from information communication and technology, it further suggested that banks should provide personnel especially on ATM centres to monitor the trend of transactions being carried out by individual to curb fraudulent activities.

Suggested Citation

  • Niyi S. , Awotomilusi, & Olatunde Matthew, Ajoloko,, 2022. "Information and Communication Technology and Fraud Cases of Listed Deposit Money Banks in Nigeria," Multidisciplinary Journal of Management Sciences, Association of Forensic Accounting Researchers (AFAR), vol. 4(2), pages 55-64, June.
    • Handle: RePEc:ris:amjoms:0055
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