EFFECT OF FORENSIC TECHNOLOGICAL TOOLS ON FINANCIAL CRIME INVESTIGATION EFFICIENCY AMONG LISTED DEPOSIT MONEY BANKS IN NIGERIA

Abstract

This study investigated the effect of forensic technological tools on financial crime investigation efficiency among listed deposit money banks in Nigeria. The dependent variable was financial crime investigation efficiency, while the independent variables included forensic accounting software usage, artificial intelligence tools, electronic transaction monitoring systems, and cybersecurity infrastructure. A survey research design was adopted, with a population of 452 and a sample size of 233 respondents. Data were analyzed using multiple regression techniques. Findings revealed that all four technological tools significantly enhance the efficiency of financial crime investigations. Forensic accounting software aid in evidence recovery and data analysis; artificial intelligence tools improve detection through predictive analytics; electronic transaction monitoring systems, having the strongest influence, enable real-time identification of suspicious activities; and cybersecurity infrastructure secures digital environments and supports traceable investigations. All variables were statistically significant at the 1% level. Based on these findings, the study recommends that deposit money banks should invest in advanced forensic technologies, integrate artificial intelligence into their investigative systems, expand electronic monitoring capacities, and strengthen cybersecurity infrastructure to enhance their ability to detect and combat financial crimes efficiently.