FACULTY OF THE SOCIAL SCIENCES
Permanent URI for this communityhttps://repository.ibadanedu.com/handle/123456789/268
Browse
9 results
Search Results
Item "I Prefer to be Old School and Safe”: Fear of Fraud and Governance of Risk in Nigeria’s Cashless Ecosystem(Charles Sturt University (Faculty of Business, Justice, and Behavioral Sciences), 2023) Tade, O.; Adeniyi, O. A.This article provides insight into the prevalence of fraud in Nigeria’s financial cashless ecosystem and how trust is being built in the system to check the growing menace. It is motivated by two overarching questions: Does fear of fraud constitute an impediment to financial inclusion? How does the existence or otherwise of risk governance mechanisms mediate the nexus between electronic fraud and financial inclusion? Using qualitative methods to probe participants in southwestern Nigeria on these issues, the findings show how fear of fraud, indirect experiences of fraud, and fraud governance shape adoption and behaviour in the Nigerian banking system.Item Dimensions of Electronic Fraud and Governance of Trust in Nigeria’s Cashless Ecosystem(SAGE Publications, 2020) Tade, O.; Adeniyi, O. A.A negative outcome of the nascent cashless policy in Nigeria has been persistent electronic banking fraud (e-fraud). Fraud occurrence in any financial space indicates insecurity and loopholes being exploited by fraudsters. This underscores the importance of trust governance in electronic banking and its centrality in a transiting cashless economy like Nigeria. Against this background, we investigated e-banking fraud and the role trust governance plays in both the adoption and refusal to migrate and use electronic banking in Nigeria. Using qualitative methods (in-depth and key informant interviews) of data collection, 30 participants were purposively selected and, in some instances, reached through the snowball and referral methods. Findings showed internal, external, and collaborative dimensions of e-fraud. Experiences of fraud reportedly affected adoption and migration of bank customers to e-banking platforms. Although weak governance mechanism was reported, banks nonetheless are embracing security mechanisms such as sending SCAM alert messages to customers, while shaming and sack of compromised staff were employed as within-bank measures to secure the confidence of customers in the evolving financial ecosystem.Item “They Withdrew All I Was Worth”: Automated Teller Machine Fraud and Victims’ Life Chances in Nigeria(Sage Publication, 2017) Tade, O.; Adeniyi, O. A.A major downside of the cashless policy introduced by the Central Bank of Nigeria in 2014 is pervasive automated teller machine (ATM) frauds. While fraudsters gain, the life chances of victims are affected. Previous studies in Nigeria had not investigated the effect of ATM frauds on victims’ life chances. Data were generated through in-depth interviews with victims of ATM fraud. Findings show victims suffered post fraud trauma and often depended on friends, parents and relatives to survive the trauma. The reaction of banks to customers’ victimization was unfavorable and unhelpful in compensating the financial losses of customers. We recommend better internal controls for banks and implementation of mechanisms to govern trust and protect customers from victimization.Item I Prefer to be Old School and Safe”: Fear of Fraud and Governance of Risk in Nigeria’s Cashless Ecosystem(Charles Sturt University (Faculty of Business, Justice, and Behavioral Sciences), 2023) Tade, O.; Adeniyi, O. A.This article provides insight into the prevalence of fraud in Nigeria’s financial cashless ecosystem and how trust is being built in the system to check the growing menace. It is motivated by two overarching questions: Does fear of fraud constitute an impediment to financial inclusion? How does the existence or otherwise of risk governance mechanisms mediate the nexus between electronic fraud and financial inclusion? Using qualitative methods to probe participants in southwestern Nigeria on these issues, the findings show how fear of fraud, indirect experiences of fraud, and fraud governance shape adoption and behaviour in the Nigerian banking system.Item Dimensions of Electronic Fraud and Governance of Trust in Nigeria’s Cashless Ecosystem(SAGE Publications, 2020) Tade, O.; Adeniyi, O. A.A negative outcome of the nascent cashless policy in Nigeria has been persistent electronic banking fraud (e-fraud). Fraud occurrence in any financial space indicates insecurity and loopholes being exploited by fraudsters. This underscores the importance of trust governance in electronic banking and its centrality in a transiting cashless economy like Nigeria. Against this background, we investigated e-banking fraud and the role trust governance plays in both the adoption and refusal to migrate and use electronic banking in Nigeria. Using qualitative methods (in-depth and key informant interviews) of data collection, 30 participants were purposively selected and, in some instances, reached through the snowball and referral methods. Findings showed internal, external, and collaborative dimensions of e-fraud. Experiences of fraud reportedly affected adoption and migration of bank customers to e-banking platforms. Although weak governance mechanism was reported, banks nonetheless are embracing security mechanisms such as sending SCAM alert messages to customers, while shaming and sack of compromised staff were employed as within-bank measures to secure the confidence of customers in the evolving financial ecosystem.Item Dimensions of Electronic Fraud and Governance of Trust in Nigeria’s Cashless Ecosystem(SAGE Publications, 2020) Tade, O.; Adeniyi, O. A.A negative outcome of the nascent cashless policy in Nigeria has been persistent electronic banking fraud (e-fraud). Fraud occurrence in any financial space indicates insecurity and loopholes being exploited by fraudsters. This underscores the importance of trust governance in electronic banking and its centrality in a transiting cashless economy like Nigeria. Against this background, we investigated e-banking fraud and the role trust governance plays in both the adoption and refusal to migrate and use electronic banking in Nigeria. Using qualitative methods (in-depth and key informant interviews) of data collection, 30 participants were purposively selected and, in some instances, reached through the snowball and referral methods. Findings showed internal, external, and collaborative dimensions of e-fraud. Experiences of fraud reportedly affected adoption and migration of bank customers to e-banking platforms. Although weak governance mechanism was reported, banks nonetheless are embracing security mechanisms such as sending SCAM alert messages to customers, while shaming and sack of compromised staff were employed as within-bank measures to secure the confidence of customers in the evolving financial ecosystem.Item “They Withdrew All I Was Worth”: Automated Teller Machine Fraud and Victims’ Life Chances in Nigeria(Sage Publication, 2017) Tade, O.; Adeniyi, O. A.A major downside of the cashless policy introduced by the Central Bank of Nigeria in 2014 is pervasive automated teller machine (ATM) frauds. While fraudsters gain, the life chances of victims are affected. Previous studies in Nigeria had not investigated the effect of ATM frauds on victims’ life chances. Data were generated through in-depth interviews with victims of ATM fraud. Findings show victims suffered post fraud trauma and often depended on friends, parents and relatives to survive the trauma. The reaction of banks to customers’ victimization was unfavorable and unhelpful in compensating the financial losses of customers. We recommend better internal controls for banks and implementation of mechanisms to govern trust and protect customers from victimization.Item “They Withdrew All I Was Worth”: Automated Teller Machine Fraud and Victims’ Life Chances in Nigeria(Sage Publication, 2017) Tade, O.; Adeniyi, O. A.A major downside of the cashless policy introduced by the Central Bank of Nigeria in 2014 is pervasive automated teller machine (ATM) frauds. While fraudsters gain, the life chances of victims are affected. Previous studies in Nigeria had not investigated the effect of ATM frauds on victims’ life chances. Data were generated through in-depth interviews with victims of ATM fraud. Findings show victims suffered post fraud trauma and often depended on friends, parents and relatives to survive the trauma. The reaction of banks to customers’ victimization was unfavorable and unhelpful in compensating the financial losses of customers. We recommend better internal controls for banks and implementation of mechanisms to govern trust and protect customers from victimization.Item On the Limits of Trust: Characterising Automated Teller Machine Fraudsters in Southwest Nigeria(Emerald Publishing Limited, 2016) Tade, O.; Adeniyi, O. A.Purpose – This paper aims to investigate automated teller machine (ATM) fraud in southwest Nigeria, as extant studies have not examined the unintended consequences of ATM subscription particularly the effect of the identity of fraudsters and the strategies for defrauding. Design/methodology/approach – Using sequential exploratory strand of mixed method, data were collected from both ATM users and victims of ATM fraud using multi-stage sampling procedure. This involved purposive selection of Lagos and Oyo states. Findings – Results showed that fraudsters were typically lovers, friends, relatives and sometimes children of victims. Strategies for defrauding included card cloning, swapping of cards and physical attacks at ATM galleries. Research limitations/implications – Because of the size of the sample which is small, the research results may lack generalizability. More expansive works are needed across Nigeria in this regard. Practical implications – The paper includes implications for policy initiative concerning the deployment and use of payment systems such as ATM in Nigeria. Social implications – The paper reveals the limits of trust in cashless policy. It raises salient policy issues concerning the need for the governance of trust to engender adoption. Originality/value – The paper characterizes fraudsters and their strategies for defrauding.