Fraud Risk – The Role of Information Technology

Indus Journal of Management Sciences, Volume 1, Issue 1, 2013

5 Pages Posted: 10 Jul 2014

See all articles by Nawaz Ahmad

Nawaz Ahmad

RTS (Research, Trainings, and Solutions); Institute of Business Management (IoBM)

Ather Siddiqui


Date Written: December 20, 2013


The report is about an analysis for how banks have done transformations for a lot of years and continue to depend on technology more and more for providing fulfillment of transactions to its valuable customers. The main idea of the report is to understand the hi-tech world we are living in, and how banking companies have to monitor round the clock for customer’s safeguard of rights and to avoid misuse of banking instruments.

The methodology of report buildup is based on feedback from banking professionals in senior ranks, open ended questions and meetings. Other than that internet libraries were searched to get the right information for better understanding of topic. The problem statement is explained and the competition between the virus and anti-virus is explored in details. In a nutshell, fraud risk is high in today’s world and banking companies are being careful in doing transactions of customers through electronically powered means. The bank thief in today’s world is very smart and has tools to avoid being caught by police. The banks are trying to safeguard customers’ data but need to be more aggressive for winning this race.

E-banking frauds have increased overall because of a lot of relying on modern technological systems, the more systems being placed the more chances of hacking Customer’s data and transactions and the whole processes are inside systems and cannot be seen, but if you the hacker has the right password they can see everything about customers and perform the systems transactions on their behalf also. Some professionals said that it is not necessary that hackers belongs from outside the organization it may be from inside the organization and may use all the transactions wrongly and leave the company bearing losses.

E-banking is getting a boom; this study will certainly help the individuals as well as organization to take important decisions relating to their banking businesses. Coming age is an age of wireless, internet and iPhone so the importance of E-banking stands higher.

This study will be helpful for the analyst analyzing the feasibility of investing handsome amount of capital in E-banking and POS transaction facility in Pakistan.

Keywords: Risk, Information Technology, Banking Sector, Pakistan.

JEL Classification: D 80, L86, M10

Suggested Citation

Ahmad, Nawaz and Siddiqui, Ather, Fraud Risk – The Role of Information Technology (December 20, 2013). Indus Journal of Management Sciences, Volume 1, Issue 1, 2013. Available at SSRN:

Nawaz Ahmad (Contact Author)

RTS (Research, Trainings, and Solutions) ( email )

9th Nishat Lane, DHA 6
9th Nishat Lane, DHA 6
Karachi, Sindh 75500
00923009292422 (Phone)

Institute of Business Management (IoBM) ( email )

Plot # 84
Korangi Creek
Karachi, Sindh 75190


Ather Siddiqui

Independent ( email )

No Address Available

Register to save articles to
your library


Paper statistics

Abstract Views
PlumX Metrics