THE IMPACT OF INFORMATION AND COMMUNICATION TECHNOLOGY (ICT) ON FRAUD DETECTION AND PREVENTION IN NIGERIA BANKS (A CASE STUDY OF SOME SELECTED BANKS)

ABSTRACT This study investigated “The Impact of Information and Communication Technology (ICT) on Fraud Detection and Prevention in Nigerian Banks: A Case Study of Some Selected Banks.” To achieve the general purpose of the study, the following specific objectives were considered: to determine the impact of ICT tools on the effectiveness of fraud detection in Nigerian banks; to examine the role of ICT in preventing financial crimes and fraudulent transactions; to assess the influence of ICT-based monitoring systems on operational efficiency; and to evaluate the challenges associated with the adoption of ICT for fraud control in selected banks. The study employed a survey research design, and primary data were collected using structured questionnaires administered to bank staff in selected branches. The data collected were analyzed using the Statistical Package for Social Sciences (SPSS) version 25. The major findings of the study revealed that ICT has a significant and positive impact on fraud detection and prevention in Nigerian banks. The use of advanced technologies such as automated fraud monitoring systems, biometric verification, and real-time transaction alerts has improved the ability of banks to identify and prevent fraudulent activities. The study concludes that ICT is a critical tool for strengthening fraud management frameworks in Nigerian banks. It therefore recommends that bank management should invest more in modern ICT infrastructure, provide continuous staff training on cyber risk management, and strengthen data protection systems to minimize fraud-related risks.