Online Fraud Detection on How and why people commit efraud How and why people commit efraud

Online Fraud Detection on How and
why people commit efraud

Pressure, opportunity and rationalization form the fraud triangle, which information
technology security experts now believe are reasons why people commit electronic
fraud.
Also, the people factor in e-payment fraud is increasing, with greed said to be
responsible for 67% of fraud cases in 2015, while other causes included problems from
debts and gambling, according to Dele Adeyinka, chief digital officer, Wema Bank Plc.
In a presentation, at 7th annual payment systems & fraud conference held in Lagos
recently, Adeyinka, said that explanation behind fraud needs to take account of various
factors, particularly, from the fraudster‟s perspective.
He cautioned that individuals, financial institutions, other corporate bodies and the
Government, must take serious the motivation of potential offenders; conditions under
which people can rationalize their prospective crimes away and opportunities to commit
crime(s); technical ability of the fraudster and expected and actual risk of discovery after
the fraud has been carried out, as practical steps to nib in the bud e-payment frauds.
“A common model that brings together a number of the reasons why people commit
fraud is the Fraud Triangle. This model is built on the premise that fraud is likely to