ASSESSMENT OF FRAUD DETECTION TECHNIQUES ON CRYPTOCURRENCY ADOPTION AMONG NIGERIAN YOUTHS
Cryptocurrency adoption among Nigerian youths has witnessed substantial growth, accompanied by concerns regarding fraudulent activities. This study assessed fraud detection techniques’ effectiveness on cryptocurrency adoption among Nigerian youths. A mixed-methods approach was employed, combining quantitative surveys and qualitative interviews. Results revealed a high awareness of fraud detection techniques among participants, albeit with limited confidence in their effectiveness. Qualitative analysis identified underlying issues such as distrust in traditional financial institutions and emphasized the importance of community support in promoting safe practices. Autocorrelation tests indicated no significant autocorrelation in the data, while T statistical tests revealed significant relationships between variables and the effectiveness of fraud detection techniques. Recommendations include prioritizing educational initiatives, strengthening regulatory frameworks, continuous innovation in fraud detection techniques, and fostering supportive community platforms. Policymakers and stakeholders can leverage these findings to develop targeted interventions aimed at mitigating risks associated with cryptocurrency adoption among Nigerian youths.
Keywords: Cryptocurrency, Fraud, techniques, youths, Machine and learning.
