THE EFFECT OF CYBER FRAUD ON CUSTOMER TRUST IN NIGERIAN DEPOSIT MONEY BANKS: A DIGITAL FORENSIC PERSPECTIVE COLLEGE OF PRIVATE SECTOR ACCOUNTING JOURNAL

Abstract

This study investigated the effect of cyber fraud on customer trust in Nigerian deposit money banks, focusing specifically on phishing and online banking fraud, from a digital forensic perspective. A survey research design was adopted, with 348 respondents, including bank customers and staff, providing data through structured questionnaires. The collected data were analyzed using descriptive statistics and multiple regression analysis to determine the relationship between cyber fraud and customer trust. The findings revealed that both phishing and online banking fraud have a significant negative impact on customer trust, demonstrating that cyber threats undermine confidence in digital banking systems. The study further highlighted the critical role of digital forensic practices in detecting, investigating, and mitigating fraud to restore customer confidence. Based on these results, it is recommended that banks implement stronger anti-phishing measures, enhance customer awareness programs, and establish dedicated forensic units to safeguard funds and maintain trust. This study contributes to understanding the interaction between cyber fraud, digital forensic interventions, and customer trust in Nigeria's digital banking environment.

Keywords: Cyber Fraud, Phishing, Online Banking Fraud, Customer Trust, Digital Forensics, Nigerian Deposit Money Banks