Cybercrime, The Challenge To Internet Banking: A Case Study of Ghana and Nigeria.

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Introduction
Cyber-crime is a generic term that refers to all criminal activities done using the medium of computers, the Internet, cyber space and the worldwide web. There isn’t really a fixed definition for cyber-crime. The Nigerian Harmonized Cyber Security Bill of 2011 explains Cyber Crime as all crime emarginated offline which can be achieved with the use of computer networks as a tool, threats to lives and properties, disruption of critical services, terrorism and economic sabotage, propaganda and theft of information.

This paper talks about the types of cyber-crimes: hacking, data theft, spreading virus and worms, identity theft, yahoo attack and cyber terrorism; causes and effects of cyber – crime on banking, transaction and reputation; finally it will also look at the measures in place to help reduce cyber- crime activities.

Types of cyber crime
Various types of cybercrimes have been discussed in the literature and have also been experienced by bankers and other financial institutions. Notable worldwide cybercrimes common in developing countries including Nigeria and Ghana are hacking, data theft, spreading virus or worms, fraud or identity theft, yahoo attack, and cyber terrorism.

Hacking
Hacking means unauthorized attempts to bypass the security mechanisms of an information system or network. Also, in simple words Hacking is the unauthorized access to a computer system, programs, data and network resources. The term hacker” originally meant a very gifted programmer. In recent years though, with easier access to multiple systems, it now has negative implications. Unauthorized disclosure of access code, people’s system interference, misuse of device, denial of service and records retention are acts criminalized under the Harmonized Cyber Security Bill 2011 of Nigeria. Offenders are punishable by law which may extend to prison terms or with fine. Hacking offence is cognizable, bailable, compoundable with permission of the court before



References: Agwu, E. (2012). A Qualitative Study of the Problems and Prospects of Online Banking in Developing Economies – Case of Nigeria Kharouni, F. (2013). Africa: A new safe habor for criminals? http://www.ibimapublishing.com/journals/JIACS/2012/322399/322399.pdf Sesan, G., Seromi, B Bhatta, T. D., Prabhu, V., Dua, A.(2003). Understanding credit card frauds. TATA Counsultancy Services. Boateng, R., Olumide, L., Isabalija, R. S. and Budu, J. (2011). Sakawa - cybercrime and criminality in Ghana Bradshaw, T. K. (2006). Theories of poverty and anti-poverty programs in community development Brenner, S.W.(2010). Cyber – Crime: criminal threats from cyberspace. An Imprint of ABC-CLIO; Santa Barbac CA. Britton, D., Eli, K., Mike G. (2013). The growing threats of cyber crime: five trends and Takeaways Hassan, E. (2011). Cyber – crime in Nigeria , causes, effects and the way out. ARPN Journal of Science and Technology. 2(7), 626-631 Justin, P National Fraud Center, (2010). The growing global trends of economic and cyber-crime. Lexis – Nexis Company. Olasanmi, O. O. (2010). Computer crimes and counter measures in the Nigerian banking sector: Journal of Internet Banking and Commerce. Olusola, M., Ogunhere, S., Ayinde, S., and Adekunde, Y Parker, D. (1983). Fighting computer crimes. US: Charles Scriber’s Son.

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