Abstract
This article examines the opportunities and the negative impacts associative of the use of Internet technology in the era of E-Business. Contextually, it zeroed on the activities of youths as they engage in online fraud as a means of survival in Nigeria. It further postured that the Internet medium tremendously promoted e-commerce and simultaneously created a new form of socio-economic insecurity that is highly unprecedented in the world history. The magnitude of vulnerability and concomitantly the monetary loss often attendant of wireless transaction cross culturally engenders fear, skepticism and disillusionments among Internet users in the cyber environment. In order to minimize this trend, the authors were of the view that a special inbuilt security mechanism attachable to the Internet technology hardwires be provided for the censorship of online monetary related interactions. This unique configuration is expected to serve as checks against fraud and other maladaptive uses of the technology by cyber predators.
Highlights
The introduction of new technology into business or commercial arena often offers the promise of a better world, thereby challenging, in the process, our imagination and enhancing human expectations
The internet revolution was construed to be an era that would usher in an unprecedented social transformation: new economy, new politics, new world order, a new and advanced species of human beings whose personalities will be dependent on the computer and whose expertise would be transported across the borders of space and time by the power of the internet (Carey, 2005)
The current study identified solutions to the problem of cyber related fraud in Nigeria
Summary
The introduction of new technology into business or commercial arena often offers the promise of a better world, thereby challenging, in the process, our imagination and enhancing human expectations. As part of locating the problem of cyber fraud in its global context, the study investigates the role played by modern internet technology as a facilitator of both legal and illegal businesses. It considers cyber-crime as a reflection of the continual fall in human condition of living occasioned by the world economic system with its grave consequences on most Third World nations. The current study identified solutions to the problem of cyber related fraud in Nigeria This has implication for the government, internet users and internet service providers in maintaining secured trade and healthy relations among individuals, institutions and nations
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