DIGITAL FORENSIC TECHNOLOGIES AS E-FRAUD RISK MITIGATION TOOLS IN THE BANKING INDUSTRY: EVIDENCE FROM ZIMBABWE

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Abstract

The paper investigates digital analytical tools and technologies used in electronic fraud prevention and detection, used in the banking industry. The paper is based on a descriptive study which studied digital forensics and cyber fraud phenomenon using content analysis. To obtain the data questionnaires and interviews were administered to the selected informants from 22 banks. Convenience and judgemental sampling techniques were used. It was found out that fraud detection and prevention tools and technologies would be most effective way of combating e-fraud if they can be utilized. It is concluded that banking institutions should reshape their anti-fraud strategies to be effective by considering fraud detection efforts using advanced analytics and related tools, software and application to get more efficient oversight.

Keywords: Digital Forensics, Data Analysis, Analytical Tools, Cyber Fraud, Cross-Channel Fraud

How to cite this paper: Dzomira, S. (2014). Digital forensic technologies as e-fraud risk mitigation tools in the banking industry: Evidence from Zimbabwe. Risk governance & control: financial markets & institutions, 4(2-1), 116-124. https://doi.org/10.22495/rgcv4i2c1art4