The Evolution and Potential Eradication of Cyber-crime in the Nigerian Banking Industry, using GTB as a case study.

Background to ProjectOver the years, the use of information communication engine room has had a dramatic impact on almost each atomic number 18as of gentle operation including, in ill-tempered, the banking and finance vault of heaven. To a certain design, ICT can be seen to have simplified m any(prenominal) of the business processes however, it has too created a impudent breed of criminal activity, many aspects of which are addressed at the banking sector, for example, credit eyeshade fraud, identity theft and standard atmosphere fraud, as well as former(a) related information applied science issues (Singhal &038 Padhmanabhan, (2008).The proliferation of e-banking has spreeed opportunities in countries such as Nigeria to wrick much much global in its operation and yet it has also opened up the jurisdiction to a broad range of cyber-crimes, which leave alone be the focus of the summary in this seek. E-banking is not limited to the more developed countries and, argua bly, can be seen to transcend many of the jurisdictional borders, with countries which are developing, such as Nigeria, being able to trade planetaryly in a way that was not possible, previously. However, this opportunity also presents challenges, particularly when it comes to establishing systems that testament prevent or limit cyber-crime.Problem SpecificationE-banking in Nigeria is pacify largely seen to be in its infancy, with the majority of banks using information applied science as a means of providing information, rather than creating an interactive banking arrangement (Howard et al 2008). To a certain extent, it could be argued that this relatively low level of enter for e-banking in Nigeria may be attributed to the insecurity and the failure of the technology to victuals pace with the needs of the public, if they are to fully engage with internet banking and all its ramifications (Chiemeke, Evwiekpaefe, &038 Chete, 2006). disgust and corruption within the banking s ectors have created a particular rival for businesses across Nigeria, which indicates that dealing with the area of cyber-crime is critically important and needs to be tackled, if Nigeria is to be able to develop as a strong international economic jurisdiction capable of attracting investment and stability.Research Aims and ObjectivesThe overall aim of this research is to look at the evolution of cyber-crime in Nigeria and to explore ship canal in which it can electromotive forcely be managed, or even eradicated. In order to achieve this over-riding aim, several smaller research objectives have been identified.Firstly, it is required to gain an historical understanding of the Nigerian banking industry and to ascertain the ways in which the industry has operated, prior to the use of information technology, and how information technology has impacted upon the banking sector, to date. Secondly, an analysis of the current cyber-crime control processes lead be under translaten, to ne at a range of different banks and how they look towards managing and controlling cyber-crime (Computer Crime Research concern 2009). The research will then move on to compare banks in other regions, such as the United domain and the United States, with a view to establishing whether there are additional ways in which cyber-crime could be managed more efficiently, by looking at the different different means whereby cyber-crime is managed in these other jurisdictions. The findings can then be looked at in the context of the problems being faced in Nigeria, and potential options explored. A specific case study of GTB will be used, in order to explore the issues raised above, before ultimately suggesting how the Nigerian banking sector can improve its position and reduce the level of cyber-crime, to such an extent that it is probably to improve the stability and trust within the banking sector. GTB in particular has been the subject of much discussion due to several high visible ness fraudulent activities that have raised the issue of managing cybercrime in Nigeria (Shittu, 2010). Offering this instruction is a critical element of the research as it will offer guidance on how to manage the difficulties being raised by the Nigerian banking industry.Research MethodologyThe research approach will be inducive in nature in that it will look at a wide variety of ideas and observations with the view to ultimately establishing a theory and a framework that can be relied upon to develop the future of the Nigerian banking industry. In order to achieve this, both quantitative and qualitative analysis will be undertaken. However, this will primarily involve looking at the entropy associated with cyber-crime, in the region, as part of the secondary research and then freeing on to undertake a case study, to improve the understanding of where the selective information has originated from, and in order to bridge between the theory and practical humanity of cyber-crime, in the region.ResourcesResources will primarily be derived from journals and reports dealing with the area of cyber-crime, in Nigeria, although it will also be necessary to undertake capital research with the employees of the case study bank, i.e. GTB. Suggested references to be used as a first point are listed at the end of the proposal.ConstraintsPotential issues may publish when it comes to collecting accurate data, as issues related to cyber-crime rates can be commercially sensitive, thus making it harder to ensure that the data and the subsequent analysis are accurate. It is also necessary to recognise that issues relating to cyber-crime are likely to change, actually rapidly, making the research quite time-specific, in terms of its value. Gaining detailed primary research by interviewing employees may also present a problem, as employees are unlikely to be prepared to speak openly, for fear of any comeback from their employer.Projected ScheduleThe research will take mast ermind over one academic year, which actually spans a total of nine-spot months. It is anticipated that monitoring the case study bank will take the longest period of time and therefore this is central to the timing and is recognise as such in the chart below. M1M2M3M4M5M6M7M8M9 Background Research publications Review Case field of operations Analysis and Write-up Proofread and PresentationReferences Adeloye LA (2008). E-banking as new frontiers for banks. Sunday Punch, September 14, P. 25.Chiemeke, S. C., Evwiekpaefe, A. and Chete, F.(2006) The Adoption of Internet Banking in Nigeria An Empirical Investigation, Journal of Internet Banking and Commerce, Vol. 11, No.3,Computer Crime Research Center 2009. Preventive Measures for ATM frauds. http//www.crimeresearch.org/articles/preventive measures-ATMFraud,Howard, R., Thomas, R., Burstein, J., &038 Bradescu, R. (2008). Cyber Fraud Trends and Mitigation, 924.Litan, A. (2004). Phising attack victims likely targets for identity theft . Available http//www.gartner.com/DisplayDocument?doc_cd=120804Longe, O.B.&038 Chiemeke, S.C. (2008) Cybercrime and Criminality in Nigeria-What roles are internet entry Points in Playing. European Journal of SocialSciences, Volume 6 No 4Ogunsemor AO (1992.) Banking services The emergence and impact of electronic banking. The Nigerian Banker, January March, 1992.Omankhanlen O. (2009). ATM fraud rises Nigerians groan in Nigeria. Daily News, Sunday, June 21, pp.8-10.Shittu, O., Submitted, P., The, T. O., Of, F., Akintola, L., State, O. Y. O., Fulfilment, I. N. P., et al. (2010). The Impact of Electronic Banking in Nigeria Banking System (Critical Appraisal Of Unity Bank Plc ), 162.Singhal, D., &038 Padhmanabhan, V. (2008). A Study on Customer Perception Towards Internet Banking Identifying Major Contributing Factors, 5(1), pp. hundred and one111.