COPING WITH ORGANIZATIONAL DIGITAL FRAUD: THE NIGERIAN EXPERIENCE

Abstract

Digital fraud is ravaging organizations world over and Nigerian financial organizationsare no exception. Nigeria has evolved from the days of cheque transactions to electronic payment platforms, this gave rise to the maladaptive behavior (Digital fraud). The collected its Data its data fromthe Nigerian Interbank settlement system Plc (NIBSS). The study sought to know which channel digitalfraud is more perpetuated and also sought to know how digital fraud could be reduced to its barestlevel. At the end of reviewing the Secondary data, it was discovered that WEB based digital fraud wasmost prevalent in Nigeria from 2019 to Q3 2020, this was as result of the Covid 19 pandemic thatravaged countries world over and company resorted to Web based transactions more. The researcherrecommended users education, deployment of fraud solutions, introduction of biometric identificationsystem, complete and accurate reporting of fraud, strengthening the international gateway.