Abstract
Cyber fraud has become a stumbling block in the development of many countries especially in the developing world as billions of dollars continues to be lost. It’s prevalence in the west African sub-region has stifled the efforts made by governments to bridge the technology gap between nations like Ghana and the west. Online shopping which is a convenient advancement in technology and relatively famous form of transaction in the west requires a considerable level of trust between the customer and the service provider. With the consumer culture theory (CCT) and model of integrative trust as theoretical foundations, this paper adopts a comprehensive two-way generic inductive approach to gather relevant data for analysis to unravel the effects of cyber fraud on the Ghanaian consumers’ trust for online shopping. The methodology encapsulates a systematic and rigorous literature review and documented cases of cyber fraud in Ghana. Results intimated that cyber fraud is a major cause of financial lose in Ghana and has to a large extent affected the Ghanaian consumers’ trust for online shopping and E-transactions in general as only 39% of the populace are revealed to buy online. Poor information technology infrastructure, growth of IT users, and a lack of regulation and training law enforcements were also found to be the underlying causes of why it is challenging to secure information online and hence the lack of trust. Keywords: Cyber Fraud, Trust, Online shopping. DOI : 10.7176/EJBM/11-36-10 Publication date: December 31 st 2019
Highlights
Fraud is a generic terminology and consists of multifarious ways by which people resort to get an upper hand or advantage over others mainly through tricks, surprises, false representation and any other methods of cheating (Singleton and Singleton,2010)
It is critically important to state that cyber fraud, consumer trust, and online shopping are the main variables of interest to this paper: these terms have been explained and lumped up in the following paragraphs to establish a logical relation between them
4.1 Definition of key terms: Cyber Fraud, Online Shopping, and Trust Well (2010), defines fraud as an intentional falsification of statement aimed at financial gains from an innocent victim
Summary
Fraud is a generic terminology and consists of multifarious ways by which people resort to get an upper hand or advantage over others mainly through tricks, surprises, false representation and any other methods of cheating (Singleton and Singleton,2010). Forrester research (2001) predicted a $1trillion worth of online goods and services purchases between 2001 and 2006 worldwide. This prediction did happen and invariably raised concerns of the enormity of financial burden and risk factors that comes with doing E-business. This is what accounts for strict rules governing the conduct of business on the internet and why some consumers in different parts of the world remain skeptical about buying or doing business online. 25% of consumers in this research felt that companies have all it takes to protect their information with a relatively insignificant 10% believing they have absolute control over their personal data
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