Internet banking fraud alertness in the banking sector: South Africa
Journal: Banks and bank systems [electronic resource] (Vol.12, No. 1)Publication Date: 2017-06-19
Authors : Shewangu Dzomira;
Page : 143-151
Keywords : alertness; cyber fraudster; e-commerce; internet banking; internet fraud;
Abstract
This paper analyzes internet banking fraud alertness to the general public by the South African banking institutions. The study is centered on routine activity theory, which is a criminology theory. A qualitative content analysis was used as the research technique for the interpretation of the text data from each bank's website through the systematic classification process of coding and identifying themes or patterns to provide an in-depth understanding of internet banking fraud alertness in the banking sector. A sample size of 13 out of 16 locally and foreign controlled retail banks in South Africa was used. The findings report that banks are not adequately providing internet fraud alertness information to the general public on their websites notwithstanding that most banks they do provide such information to log-in users and the use of that information is doubtful. This study suggests a need to augment internet banking fraud alertness information and passably inform internet banking users of the types of internet banking fraud perpetrated by internet fraudsters before they log-in for transacting. Considering the current and widespread quandary of internet banking fraud, the information of this paper is important for internet banking users to improve their aptitude in identifying fraudulent schemes and circumvent them, and for the banking institutions to invest more in the provision of internet banking fraud information to the general public.
Other Latest Articles
- The impact of the independent review on SME access to bank finance: the case of South Africa
- Influence of perceived integrity and perceived system quality on Generation Y students’ perceived trust in mobile banking in South Africa
- Asset operations of Ukrainian banks on the current stage of banking system development
- Do Islamic banks contribute to growth of the economy? Evidence from United Arab Emirates (UAE)
- Testing for explosive bubbles in the South African-US exchange rate using the sequential ADF procedures
Last modified: 2018-03-16 16:32:12