EXCERPT FROM THE STUDY
According to Reuter’s media briefs from Cameroon [16], British prime minister, cyber-crime costs the British economy some 27 billion pounds a year. On the other hand, the Economic and Financial Crimes Commission Report ranks Nigeria as third among the top ten sources of cyber-crime in the world. It is estimated that after the United States with 65 per cent of cyber-criminal activities and the United Kingdom with 9.9 per cent, Nigeria is the next hub of cyber criminals in the world with 8 per cent. The growth of online telecommunication further presents enhanced opportunities for perpetrators of cyber-crime. Funds can be embezzled using wire transfer or account takeover. Criminals may submit fraudulent online applications for bank loans; disrupt e-commerce by engaging in denial of service attacks, and by compromising online phone callingsystems. Identity takeover can also affect online banking, as new accounts can be taken over by identity thieves, thus raising concerns regarding the safety and soundness of financial institutions. Therefore unless crime detection and prevention are confronted collectively, Nigeria like any other country will remain warm breeding grounds for cartels of such criminal activity. A global effort to combat this crime is of essence. Financial fraud is one of America’s largest growth industries, creating annual losses of $189 billion. The cost of application fraud alone, they argued, is more than $35 billion a year. This is by far more damaging than delinquent or bankrupt accounts, fraud losses which are generally three times higher than normal chargeoff rates. This situation poses a real and constant threat to profitability and may raise the price of goods and services for consumers.
Background of the Study
Revenue collection is a critical aspect of local government financial managemen...
ABSTRACT
This research work was aimed at carrying out statistical analysis of federal government’s revenue and exp...
Abstract
Terrorists have recourse to violence against the proprietors of the monopoly on the legitimate...
ABSTRACT
Organizations like Banks give loan to t...
Background To The Study
Family Planning is the deliberate regulation of conception or delivery, or the use of contracept...
Background of the Study
Birnin Kebbi Local Government Area (LGA) in Kebbi State, located in the northwestern part of Nigeria, faces signific...
Statement of the Problem
Automotive battery manufacturing industry has been known to pollute the environment with Lead, a component of au...
Background of the Study
Workplace fatigue and burnout are increasingly recognized as major concerns in healthcare settin...
INTRODUCTION
The development of internal combustion engines resulted in a growth in the need for the consumption of fuel...
Background of the Study
In the fintech industry, compliance with regulatory requirements is critical to maintaining customer trust and op...