Challenges of Using Information Technology To Combat Economic Crime

Information Technology is one of the most valuable asset for any organisation and any economic system. It is redefining the ways of conducting business and communication and is shaping the interaction between producers and consumers for sale and purchase of goods and services. Unfortunately, however in spite of the importance of IT to the economic system, information revolution has brought both negative and positive changes to business, international affairs and daily life. The growth of the internet for example has greatly influenced the way and speed with which information is shared by both the “good” and the “bad”. The revolution in IT and its attendant globalisation of the market have introduced more and new forms of opportunity for criminals. The paper discusses the concepts of and challenges posed by economic crimes and attempts to proffer measures for preventing and fighting economic crimes..