The crime of financial fraud in Ecuador: an analysis of digital transactions

Abstract

The study analyzed the increase in electronic transactions and the associated fraud risk, with the aim of assessing the volume and proportion of fraudulent transactions. Quantitative methods were used to collect and analyze data on financial transactions and fraud. The results showed that, on average, 3,095 electronic transactions were carried out, of which 8.08% were fraudulent, with approximately 250 frauds per month. A significant increase in fraud cases was observed between 2021 and 2023. The findings highlighted the urgent need to strengthen secur ity measures and develop a robust legal framework to prevent the misuse of financial technologies, emphasizing the importance of collaboration between financial institutions and regulatory bodies.