Abstract
The paper examines the key drivers behind the rise of electronic banking (E-banking)
fraud in South Africa, aiming to inform effective countermeasures. Grounded in the
Fraud Triangle Theory (FTT ) and existing literature, it explores four factors: opportunity,
pressure, rationalisation, and technological advancement. Using a quantitative approach,
the study surveyed 252 participants from South African banks through electronic and
physical questionnaires, with data analysed via Partial Least Squares Structural Equation
Modelling (PLS-SEM). Findings indicate that opportunity, pressure, and technological
advancements significantly contribute to E-banking fraud, while rationalisation showed
no notable impact. The paper’s originality lies in its identification of these drivers and
the strategic recommendations it offers to mitigate fraud. It stresses the urgency for
South African banks to implement comprehensive fraud prevention measures that
address these specific factors.