FACULTY OF THE SOCIAL SCIENCES
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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 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.