Role of mobile banking in curbing financial Fraud in Zimbabwean commercial banks. A Case study of BancABC

Author

Dhewa, Hellen.

Title

Role of mobile banking in curbing financial Fraud in Zimbabwean commercial banks. A Case study of BancABC

Abstract

This study aims to investigate the role of mobile banking in curbing financial fraud in Zimbabwean commercial banks, with a focus on BancABC Zimbabwe. The following served as the guideline to the research. Specifically, it examines the influence of credibility, privacy concerns, and access to mobile banking services on curbing financial fraud. Financial fraud remains a significant concern in Zimbabwe despite the growing adoption of mobile banking services. Limited empirical research has explored the role of mobile banking in mitigating fraud. This knowledge gap hinders the development of effective fraud prevention strategies, putting banks, customers, and the overall financial system at risk. This study employed the Technology Acceptance model, Diffusion of Innovation theory, The Institutional theory and The Fraud Triangle theory, the theories stated how people adopt to technology and how financial fraud occurs. The researcher used a descriptive case study research design on a sample size of 106 participants with the structured questionnaire as the main collection instrument. The study employed stratified random sampling method to choose participants. The data was analysed using Statistical Package for Social Sciences (SPSS V21), after which was displayed using tables. The validity of the data was addressed by the use of pilot testing and reliability was addressed by using Cronbach’s Alpha which was reliable because it was above (p>0.70). The study revealed that there was a significant positive relationship between independent variables and the dependent variable (credibility (.542), privacy (.0562), access (.572)) .The study also reveals that mobile banking services have a significant and positive impact on the prevalence of financial fraud. The F-change statistics 16.37 which is statistically significant (p>0.05) indicates that addition of independent variables to the model significantly improves the modes ability to predict financial fraud. The study showed that mobile banking is effective in mitigating financial fraud. The researcher strongly recommend enhance credibility, improve access, strengthen privacy such as AI powered fraud detection.

Date

June 2024

Publisher

BUSE

Keywords

Mobile banking,

Financial Fraud,

Commercial banks, BancABC.

Supervisor

NIL