ABSTRACT
Fraudulent practices in Nigerian Deposit Money Banks (DMBS) have led to increased losses and collapse of deposit banks, hence the need to use digital forensics services to detect and prevent such fraudulent activities. The banking industry is a very important institution with many internal controls in order to overcome the fraudulent practices. The objective of this study was to examine the impact of digital forensics services on fraud detection and prevention among deposit money banks in Nigeria, the most prevalent type of fraud and to establish the major areas of application of digital forensics services. The data collection instrument preferred for the study was a questionnaire. Findings from the study saw that fraud detection and prevention increased when digital forensics services was employed. The study used descriptive research survey design and uses a sample of 47 respondents in United Bank for Africa (UBA), Ilaro branch. The data was analyzed using Statistical package for social sciences (SPSS). The study findings indicated that the application of digital forensics services by banks led to increased fraud prevention in the commercial banks and the highest application was on enhancing quality of financial reporting. The study concluded that the there is significant relationship between Digital Forensic tools and techniques and its significant impact on fraud detection and prevention among deposit money Banks in Nigeria.
Keywords: Digital Forensics, Fraud detection and prevention, Nigerian DMBS
TABLE OF CONTENT
Title Page………………………………………………………………………………………i
Certification................................................................................................................................ii
Dedication..................................................................................................................................iii
Acknowledgement.....................................................................................................................iv
Abstract.......................................................................................................................................v
Table of Content........................................................................................................................vi
CHAPTER ONE
1.0 INTRODUCTION 1
1.1Background Information to the Study 1
1.2Statement of the Problem 5
1.3Significance/Justification of the Study 6
1.4Objective of the Study 8
1.5Scope of the Study 8
1.6Research Question 9
1.7Research Hypothes 9
1.8Limitation to the Study 10
1.9Operational Definition of Terms 11
1.10Case StudyHistorical Background 11
CHAPTER TWO
2.0LITERATURE REVIEW 14
2.1Conceptual Framework 14
2.1.1Digital Forensics 14
2.1.2Phases of Digital Forensics 16
2.1.3Digital Forensic Tools 17
2.1.4Digital Forensic Techniques 19
2.1.5Concept of Forensic Accounting 22
2.1.6 Fraud 24
2.1.7Types of Bank Fraud 26
2.1.8Method by Which Fraud can be Perpetrated 27
2.1.9Fraud Detection 30
2.1.10Fraud Prevention 31
2.1.11Data Mining for Fraud 33
2.1.12Financial Statement Fraud 34
2.1.13External Information Sources 34
2.1.14Fraud Management 35
2.2Theoretical Framework 37
2.2.1Fraud Management Lifecycle 38
2.2.2Agency Theory 38
2.2.3Fraud Preventative Theory 39
2.2.4White Collar Crime Theory of Fraud 42
2.2.5Theory of the Fraud Diamond 43
2.2.6Punishment-Deterrence Theory of Punitive Damage 45
2.2.7Labeling Theory of Crime 46
2.2.8Theory of Mind-set and Problem Representation 47
2.2.9Fraud Triangle Theory 48
2.2.10Fraud Scale Theory 49
2.3Empirical Studies 49
2.4Conceptual Model 64
CHAPTER THREE
3.0METHODOLOGY 65
3.1Research Design 65
3.2Population 65
3.3Sample and Sampling Techniques 65
3.4Method of Data Collection 66
3.5Questionnaire Design 66
3.6Reliability and Validity Test 67
3.7Method of Data Analysis 68
3.8Model Specification 69
CHAPTER FOUR
4.0RESULTS AND DISCUSSION 70
4.1Presentation of Results 70
4.2Discussion of Result 72
4.3Interpretation of Result 75
CHAPTER FIVE
5.0 CONCLUSION AND RECOMMENDATIONS 77
5.1Conclusion 78
5.2Recommendations 78
Reference 80
Appendices
