AN ASSESSMENT ON THE ACTIVITIES OF FRAUDSTERS USING ATM PIN IN NIGERIAN
Because of its low bank transaction costs and customer convenience, ATM use has grown rapidly in popularity, making it a basic component of today’s financial service delivery. However, the ATM, which is supposed to serve customers better, is now turning into a nightmare for some customers due to fraud committed in their accounts through ATM withdrawals.
The primary goal of this work is to investigate the activities of ATM pin fraudsters and how these frauds have affected financial institution growth and customer patronage of banks. For this study, the researcher used four banks as case studies.
Questionnaires, interviews, and observations were used to collect data from the four banks under study. Three hypotheses were tested using the chi-square statistical tool, and it was discovered that there is a significant relationship between ATM fraud and fraud in Nigeria, as well as that ATM fraud has an impact on customer patronage and financial institution growth.
Finally, the activities of fraudsters must be monitored, and measures to mitigate these frauds must be implemented. To address this, additional security layers on ATMs are recommended, as well as proper monitoring of ATM machines by banks. We believe that if banks and service providers follow some of the recommendations in this work, we will have a safer, less stressful, and more rewarding banking experience in this country
1.1 STUDY BACKGROUND
1.2 THE PROBLEM’S STATEMENT
It will be necessary to emphasize the importance of conducting a study of this type that will investigate the activities of ATM fraudsters.
This research will attempt to find solutions to the following issues.
Can ATMs cause fraud in Nigeria’s banking industry?
Is there a link between ATMs and fraud in Nigeria?
Is there a need for ATMs when the rate of fraud is so high?
How do these con artists pull off their heists?
Does ATM fraud have an impact on the growth of financial institutions?
What are the banks’ reactions when these frauds are committed?
What are the reactions of customers who have been impacted by the fraud?
What are the reactions of Nigeria’s central bank in regulating this fraud?
1.3 THE STUDY’S OBJECTIVES
The goal of this research is to;
to understand the connection between ATM fraud and fraud
To investigate the methods used to commit these frauds.
To learn about the steps taken by Nigeria’s central bank to combat fraud.
To learn about the reactions of customers who have been victimized by these scams.
To learn how banks react when these types of fraud occur.
To determine whether fraud has an impact on the growth of financial institutions.
To determine how we can avoid this risk. Pin Atmosphere
To offer a solution to the problem of fraud in Nigeria. Atm Pin
1.4 QUESTIONS FOR RESEARCH
What is the connection between ATM fraud and other types of fraud?
What are the methods used to commit these frauds?
How will Nigeria’s central bank put a stop to this crime? Pin Atmosphere
How can ATM customers and users reduce their chances of being defrauded?
What are the solutions to the problem of fraud in Nigeria? Pin Atmosphere
How does fraud affect the growth of financial institutions? Pin Atmosphere
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