ASSESSING FORENSIC ACCOUNTING AS A TOOL FOR DETECTING AND PREVENTING IDENTITY THEFT FRAUD: EVIDENCE FROM NIGERIA DEPOSIT INSURANCE CORPORATION (NDIC)

Abstract

The growing rate of fraud in businesses worldwide has increased the demand for forensic accounting, drawing attention across both private and public sectors. This study examined forensic accounting as a tool for detecting and preventing identity theft fraud, focusing on the Nigerian Deposit Insurance Corporation (NDIC). Using a case study design, data was collected from all 150 staff across NDIC offices in Lagos, Abuja, and Port Harcourt through questionnaires. Validity and reliability were ensured using content validity and Cronbach Alpha, while responses were analyzed using frequencies, percentages, and a 5-point Likert scale. The findings show that forensic accounting has a significant positive effect on detecting and preventing identity theft fraud (p = 0.016; coefficient = 0.647). The paper recommends further investment in forensic techniques, training and infrastructure to facilitate easy detection and prevention of identity theft fraud; Government should provide an enabling environment to prosecute and punish fraud stars, discourage impunity and provide for enforcement of the law as touching fraudulent activities.