The Effect of Cyber-Crimes on Depositors Funds in Deposit Money Banks in Nigeria

Abstract

This study investigated the effect of Cyber Crimes on Depositors Funds in Deposit Money Banks in Nigeria. A sample size of 103 depositors was used, mean and standard deviation was employed in the analysis. The result of the study indicated that there is an insignificant relationship between cyber-crimes and the level of depositor’s trust. This implies that, the adverse occurrence of cyber-crimes may affect the confidence but will not affect the level of depositor’s trust, i.e. the more cyber-crimes are carried-out or perpetrated will not affect the level of depositor’s trust with their deposits in the bank. Depositors’ fund safety is significantly influenced by the level of cyber-crimes that is carried-out, as it is felt that as more and more cyber-crimes are perpetrated by fraudsters the level of fund safety on the side of the depositors becomes low. Cyber-crime laws also have a positive influence and has a significant effect in curbing or mitigating the continuous occurrence of cyber-crimes in Nigeria.