Examining the key drivers of electronic banking fraud prevalence in the South African banking sector

The paper examines the key drivers behind the rise of electronic banking (E-banking) fraud in South Africa, aiming to inform effective countermeasures. Grounded in the Fraud Triangle Theory (FTT) and existing literature, it explores four factors: opportunity, pressure, rationalisation, and technological advancement. Using a quantitative approach, the study surveyed 252 participants from South African banks through electronic and physical questionnaires, with data analysed via Partial Least Squares Structural Equation Modelling (PLS-SEM). Findings indicate that opportunity, pressure, and technological advancements significantly contribute to E-banking fraud, while rationalisation showed no notable impact. The paper’s originality lies in its identification of these drivers and the strategic recommendations it offers to mitigate fraud. It stresses the urgency for South African banks to implement comprehensive fraud prevention measures that address these specific factors.