Online Fraud Detection on How and why people commit efraud How and why people commit efraud | Page 2

result from a combination of three factors: perceived pressure; opportunity and
rationalization.
“Perceived Pressure: typically based on either greed or need. Greed is said to be
responsible for 67% of fraud cases in 2015. Other causes included problems from debts
and gambling.
“Opportunity: Fraud is more likely in companies where there is a weak internal control
system, poor security over company property, little fear of exposure and likelihood of
detection, or unclear policies with regard to acceptable behaviour. Research has shown
that some employees are totally honest, some are totally dishonest, but that many are
swayed by opportunity. Rationalization: Some people may be able to rationalize
fraudulent actions as: necessary– especially when done for the business; harmless –
because the victim is large enough to absorb the impact and justified- because „the
victim deserved it‟ or „because I was mistreated,‟” he said.
Also speaking, Kyari Bukar managing director of CSCS, highlighted the need for the
industry to take a closer look at the block chain Technology, Internet of Things (IoTs)
and big Data analysis.
He averred that the future of payment lies in harnessing the benefits these latest
technologies bring, especially in the fight against fraud.
Speakers at the conference which had over 200 high level participation from top
industry experts and public sector including the Nigerian Naval Force, FRSC, members
of CeBIH, ISSAN, CCCOBIN, E-PPAN, commercial banks, E-payment providers, media
houses, IT organizations, research firms, academia, audit firms, mobile payment service
providers, government agencies, etc, agreed that to tackle e-payment fraud, emphasis
must be on the „people, process and technology‟.