INTRODUCTION
With access to sensitive information that enables the exchange of billions of naira in transactions each year, the payments infrastructure is a red-hot target for hackers. The electronic commerce industry has never been at a more critical juncture in the fight against cybercrime than now. It is no secret the payment ecosystem is vulnerable. Much like the internet, the payments infrastructure was developed for connectivity, not for security. Now, in the face of serious threats and too many successful instances of hackers exploiting the vulnerabilities of the system, the industry is playing catch up to safeguard data. In the quest electronic fraud, many organisations have drafted policies, and instituted awareness campaigns.