CYBERCRIME ACTIVITIES AND ITS IMPLICATIONS ON BANKSPERFORMANCE IN OYO STATE NIGERIA.

Abstract

The rendition of products and services by
banks given electronic banking has exposed
financial service operators to cybercrime activities of different natures posing a serious
threat to their financial performance. This paper empirically examined Cybercrime
activities and their implications on ban ks' Performance in Oyo state Nigeria. The basis of
this paper is to establish the effect of mail hacking, card fraud and identity theft on banks'
performance in Nigeria. A qualitative design approach was used, and 50 respondents from
each of the five topmo st deposit money Banks that serve as a sample of the study were
chosen. A total of 250 questionnaires were administered, and 200 of them received
responses. Data were gathered from answers to questionnaires. The degree of the
association between the depend ent and independent variables was assessed using
regression and correlation analysis, and the data's normality was checked using the
Komolgorov Smirnov and Shapiro Wilk preliminary tests. The outcome of this study shows
a negative and significant relations hip between cybercrime activities and banks'
performance. The study recommends that to enhance the performance of banks, cyber risk
must be integrated into the risk management framework of banks as this will ensure public
confidence in Bank E product platf orms usage.