The Impact of Internal Control Systems on Cybercrimes Prevention of Deposit Money Banks in Nigeria

This study examines the impact of internal control systems on the prevention of cybercrimes in deposit money banks in Nigeria. Against the backdrop of increasing cyber threats and financial fraud, the research sought to determine whether effective internal controls contribute significantly to cybercrime mitigation. A descriptive survey design was adopted, and data were collected using structured questionnaires administered to 150 employees across selected banks. Out of these, 138 responses were analysed using descriptive and inferential statistics, including Pearson correlation and regression analysis. The findings revealed that internal control systems, specifically, the control environment, risk assessment, control activities, information and communication, and monitoring, are positively and significantly associated with the prevention of cybercrimes. The study concludes that robust internal controls are essential in safeguarding banking operations against cyber threats. It recommends strengthening employee training, adopting advanced control technologies, and enhancing monitoring mechanisms to improve cyber resilience. This research contributes to the understanding of internal control effectiveness in the Nigerian banking sector and offers practical guidance for policymakers and practitioners.