CLOSING REGULATORY GAPS IN SECURITY OF ELECTRONIC BANKING TRANSACTIONS IN NIGERIA.

Abstract

This research work critically examines modalities of closing regulatory gaps in security of electronic banking transactions in Nigeria. The research provides various definitions of banking by comparing existing definition legislative definitions to bring it up to modern realities. The research work further examines the banking sector in relation to the importance and how ICT has helped in the fight against electronic money fraud in Nigeria. The work observes that proper implementation and enforcement of regulatory policies will bring the issue of electronic banking fraud to a halt in Nigeria. The work recommends among others that the regulators must determine the appropriate balance and avoid unnecessary costs and distortion that are capable of harming the development of e-banking in Nigeria. The research concluds by asserting that the laws and regulations touching on the security of e-banking transactions in Nigeria have to some extent achieved its aim.

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urn:uuid:7ddad143-228b-4219-834a-595ef29f2b88