Automated Teller Machine (ATM) Frauds in Nigeria: The Way Out
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Date
2011
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© Kamla-Raj 2011
Abstract
The problem of Automated Teller Machine (ATM) frauds is global in nature and its consequences on bank patronage should be of concern to the stakeholders in banks. This paper investigates the dimensions of ATM
frauds in Nigeria and proffer solutions that will mitigate the ATM frauds in the Nigerian banking system. The paper employs both primary and secondary data to investigate the ATM frauds in Nigerian banks. The chi-square statistical technique was used to analyze the data and test the hypothesis raised. The paper concludes that both bank customers and bankers have a joint role to play in stopping the perpetrators of ATM frauds in the banks. Card jamming, shoulder surfing and Stolen ATM cards constitute 65.2% of ATM frauds in Nigeria.
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Keywords
Duplicate ATMs, Plastic Money, Shoulder Surfing, ATM Fraud
Citation
J Soc Sci, 27(1): 53-58 (2011)