Combating Cyber-Fraud in a Cashless Economy: The Role (Relevance) of Biometric System

17 Pages Posted: 10 Apr 2012 Last revised: 13 Apr 2012

See all articles by Temidayo Elufisan

Temidayo Elufisan

Research officer, National Centre for Technology Management; Awoleye Senior Research officer National Centre for Technology Management

Date Written: April 10, 2012

Abstract

An e-commerce based society has been identified to be characterized with various internet-related frauds. There are have been high incidence of theft associated with the use of ATM, MasterCard, Debit card and other medium for online transactions. Several measures had been put in place to combat such experiences, which include the use of PIN (Personal Identification Number), Token, and The introduction of Smart cards. This however were not sufficient to minimize this cash related frauds. Nigeria in a bid to enhance ease of transactions had introduced a cashless policy, which will give room for more online transaction hence the greater exposure to internet frauds. This paper therefore tries to suggest a possible model which can be used to secure online transaction in a cashless society. It has therefore suggested a model which involve the use of biometric characteristics for the generation and verification of pin in an online transaction.

Keywords: cyber-fraud, biometricscs, Smartcard, PIN, Online-transaction

Suggested Citation

Elufisan, Temidayo, Combating Cyber-Fraud in a Cashless Economy: The Role (Relevance) of Biometric System (April 10, 2012). Available at SSRN: https://ssrn.com/abstract=2037816 or http://dx.doi.org/10.2139/ssrn.2037816

Temidayo Elufisan (Contact Author)

Research officer, National Centre for Technology Management ( email )

Ile-Ife, Osun State, 234
Nigeria
+234(0)8032192558 (Phone)

HOME PAGE: http://www.nacetem.org

Awoleye Senior Research officer National Centre for Technology Management ( email )

Ile-Ife, Osun State, 234
Nigeria
+234(0)8032192558 (Phone)

HOME PAGE: http://www.nacetem.org

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