OLUYIDE, Sopefoluwa Eunice (2025). The Impact of Forensic Accounting Techniques in Mitigating Electronic Fraud in Nigeria’s Deposit Money Banks. Journal of Forensic Accounting Profession, 5 (1), 43-63. [Article]
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JFAP-5-1-10.2478_jfap-2025-0003.pdf - Published Version
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JFAP-5-1-10.2478_jfap-2025-0003.pdf - Published Version
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Abstract
In this paper, we examined the impact of Forensic Accounting Techniques (Investigative
Accounting, Digital Forensics, and Data Analytics) in mitigating Electronic Fraud (e-fraud)
in Nigeria’s deposit money banks (DMBs). The study used a positivist deductive approach and
was conducted quantitatively through an online survey. A stratified random sampling method
was employed to select a sample of 95 respondents, representing eight 'best-fit' groups,
including staff from operations, Information Technology, and Electronic Channel departments
of five participating Deposit Money Banks, as well as accountants, auditors, representatives
from bank regulators, professional accounting bodies, and law enforcement agencies in
Nigeria. The results showed that only investigative accounting is statistically significant in
reducing electronic fraud within banks. In contrast, digital forensics and data analytics did not
show statistical significance in mitigating electronic fraud, implying they do not reduce e-fraud
severity. It is suggested that if the scope of data analytics were expanded, it could help mitigate
e-fraud, as it shows significance at a 10% level
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