Transaction monitoring, also known as business transaction management, is the supervision of critical business applications and services by auditing the individual transactions that flow across the application infrastructure. Many business activities are handled electronically due to acceptance of Information and communication Technology (ICT) at home as well as work place. Internet can be seen as a truly global phenomenon that has made time and distance irrelevant to many transactions. The transformation from traditional business to e-business has been a “Leap” change. But on the other hand the increase in the use of ICT facilities result in increase of criminal activities like spamming, credit card frauds, ATM frauds, Phishing, identity theft, denial of service and most of others has lend credence to the view that ICT is contributing crime in business sector. This paper does assess whether these crimes can be totally eradicated or not. Based on the findings this study, the paper concludes that with the help of Transaction Monitoring total eradication of computer crimes is not possible but can be highly reduced if internal control measures like Transaction Monitoring techniques are adequately put in place.
ICT, BTM, Phishing, MITM, M-banking, Malware