Mathematical Knowledge and Skills in E-Business Transactions and in Curbing Electronic Fraud

The digitalization of commerce and finance has brought us to the era of e-business and e-transactions. E-business transactions refer to the use of electronics in the carrying out of commercial activities (sales and purchases). Unfortunately, the rise of e-business transactions has been plagued by the issue of electronic fraud, which has become prevalent now more than ever. Mathematics as a field is fundamental to life and present in virtually every aspect of man’s life and is an essential tool required and used in problem-solving. The business world is not exempt from the influence of mathematics, and considering this, this study explores the relevance of mathematical knowledge and skills in e-business transactions, as well as in solving the problem of electronic fraud. Mathematics was shown to be useful in fraud prevention tools and strategies like cryptography, data management, and optimization, risk assessment, fraud prevention algorithms, etc. We suggest that all the stakeholders in every field should teach the importance and use of mathematical knowledge and skills to all learners in the entire education system and efforts toward encouraging the development of mathematical knowledge and skills for individuals across all fields, especially in science, technology, business world and in form of training among others.