The Economic Impact of Internet Fraud among Students of Tertiary Institutions in the Upper East Region of Ghana

Abstract

The prevalence of web-aided crimes in tertiary institutions, such as fraud, cyber harassment and hacking, is a growing concern. These criminal activities do not only tarnish the reputation of the institutions but also have far-reaching implications, impacting graduates' job prospects, particularly those with backgrounds in Information Technology (IT). In light of this, a study was conducted using snowball and stratified sampling to explore the economic impact of internet fraud in the Upper East Region of Ghana. The results indicate factors such as age, income, or reasons for engaging in fraud increase, students’ likelihood of achieving a higher GPA decreases, demonstrating a negative academic impact. Although some students may have used financial gains from internet fraud to fund their education and living expenses, many are ultimately distracted from their academic goals, leading to poorer academic performance. Redirecting their Information Communication Technology (ICT) skills towards legitimate professions could significantly benefit the nation, particularly in facilitating successful business transactions. Students can also be exposed and trained to get involved in legitimate online opportunities and businesses through online data entry and surveys, software testing and advertising among others. Implementing training programs to guide these individuals in utilizing their skills for the country's advancement is one potential solution. Further research can be conducted on students who engaged in fraud activities in senior high school and after tertiary education.