The Impact of Internet Fraud on Financial Performance of Banks

Abstract

A business associate in an organization may represent fraud as a series of disappointing business practices to help individuals. Therefore, it is an act to mask the other by covering real facts and presenting fake information and statements. Online manipulation is the biggest field that has been opened up. Online fraud has been more widespread as technical innovation coupled with internet penetration and resulting improvements have arisen. In terms of internet sales and valuation, e-commerce development is expressed. During the eight-year duration from 2008 to 2014, the overall volume of the trade rose from $268 billion to $ 1.5 trillion. The study carried out the quantitative approach in a questionnaire distribution across a given number of data collection respondents and has shown that financial crime and its success contribute directly. The findings indicated that the greater the fraud, the poorer the bank's performance, the more the online fraud appears to impact the financial performance of banks adversely.