THEORETICAL ANALYSIS OF THE FACTORS INFLUENCING CYBER CRIME IN NIGERIA BANKING SECTOR.

Abstract

Over the years, there has been a global distressing growth of the internet and its wide acceptance has led to increase in security threats. In Nigeria to- day, several internets assisted crimes known as cybercrimes are committed daily in various forms such as fraudulent electronic mails, identity theft, hacking, cyber harassment, spamming, piracy and phishing. Cybercrime is a threat against various institutions and people who are connected to the internet either through their computers or mobile technologies. The exponential increase of this crime in the society has become a strong issue that should not be overlooked. The impact of this kind of crime can be felt on the lives, economy and international reputation of a nation. Therefore, this paper focuses on the prominent cybercrimes carried out in the banking sector in Nigeria and presents a brief theoretical analysis of the factors influencing cybercrimes in the banking sector in Nigeria. It attempts to provide an overview of Cybercrime and Cyber-security. The paper also attempts to name some challenges of cybercrime and present practical and logical solutions to these threats. The study strongly relies on secondary sources of data drawn from existing literatures. In conclusion, detection and prevention techniques are highlighted in order to combat cybercrimes in Nigeria.