Electronic Fraud and Sustainability of Point of Sales (POS) Services: A Study of Awka Metropolis, Anambra State, Nigeria (Published)
The study set out to examine the effect of electronic fraud on sustainability of POS services in Awka Metropolis, Anambra State. In so doing, descriptive survey research design was adopted. From a population of 3,791 registered/licensed interactive kiosks that engage in POS operations in Awka Metropolis, a sample of 362 was derived using Taro Yamani’s statistical formula for determining sample size. The instrument of data collection was structured questionnaire, which was designed using five (5) point Likert scale. Data from the study were analyzed using descriptive statistics and formulated hypotheses were tested using Pearson Correlation and multiple regression analyses. Major findings of the study suggest that unauthorized transactions, agent collusion and POS terminal hacking have significant negative effect on sustainability of POS services in Awka Metropolis, Anambra State. The study concluded that various forms of electronic fraud, including the unauthorized transactions, agent collusion and POS terminal hacking pose serious threats on sustainability of POS services in the area. It was recommended amongst others that implementation of advanced security measures, such as encryption, tokenization and secure authentication protocols will minimize the incidence of electronic fraud amongst POS operators in Awka Metropolis, Anambra State.
Keywords: POS terminal hacking., cyber security, electronic fraud, electronic payment systems, point of sales (POS)