EGBE NGOZI MARYANN

This study empirically examines the link between financial technology and the rise of cybercrime in Nigeria. The intensity of detected cybercrime (measured in billions of naira) was used as the dependent variable, with three financial technologies, ATMs, internet services, mobile banking and a control variable (an organizational dummy involved in combating cybercrime). are regressed on four explanatory variables consisting of In Nigeria, like EFCC. The ordinary least squares (OLS)
econometric method was used for estimation. Empirical evidence shows that financial technology has a significant impact on cybercrime in Nigeria. ATMs, Internet, and mobile banking facilities in particular are positively and significantly associated with cybercrime in Nigeria. Further evidence shows that cybercrime, cybercrime rates, albeit with a weaker impact, with more active efforts on the part
of the EFCCC to curb cybercrime in Nigeria. This suggests that more efforts are needed. Given the empirical evidence, the development of sophisticated new and innovative cybercriminals to tame technological devices is essential. This should go hand in hand with strong institutional capacity such as the EFCC and strengthening the legal and judicial framework. Reducing the incidence of cybercrime in Nigeria to negligible levels