Democratizing AI-Powered Fraud Detection: A Regulatory-Compliant Framework for Public Access to Receipt Verification in Nigeria's Banking Sector

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@article{1722715,
      author = {Daunimigha Tamaraetuwemi Faith, Anyanwu Longy, Osarenwinda Osas},
      title = {Democratizing AI-Powered Fraud Detection: A Regulatory-Compliant Framework for Public Access to Receipt Verification in Nigeria's Banking Sector},
      journal = {Iconic Research And Engineering Journals},
      year = {2026},
      volume = {10},
      number = {3},
      pages = {304-314},
      issn = {2456-8880},
      url = {https://www.irejournals.com/formatedpaper/1722715.pdf},
      abstract = {Nigeria's banking industry has adopted artificial intelligence (AI) for fraud detection and receipt verification as it continues to transform global financial systems. However, the general public the population most frequently harmed by scams, falsified receipts, and transaction fraud in the first place does not have access to these AI-driven safeguards. The exclusion is directly examined in this work, which treats it as bot a technological and a regulatory issue rather than just one. The study compares the current level of institutional AI adoption to the almost complete lack of tools designed for public use, drawing on a qualitative synthesis of academic literature, industry reporting, and stakeholder perspectives. It also examines how data-protection and cybercrime laws influence what can be safely implemented outside of institutional walls. The study then suggests a six-layer, legally compatible structure for public-facing fraud detection that combines explainable AI, consent-based data processing, and low-bandwidth access channels like USSD and WhatsApp. The results point to one main conclusion: as Nigeria's economy continues to digitize at a rapid pace, addressing this access gap is crucial for financial transparency, restoring consumer trust, and safeguarding regular users.},
      keywords = {Artificial intelligence, fraud detection, receipt verification, financial inclusion, data protection, regulatory compliance, Nigeria, USSD.},
      month = {September},
      doi = {https://doi.org/10.64388/IREV10I3-1722715}
  }