Relationship between Cybercrime and Consumers Confidence in Nigeria Deposit Money Banks
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Date
2021-08
Authors
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Publisher
Alumni Association, Kwara state University, Malete
Abstract
The advent of information technology has greatly impacted on the
operational efficiency of the financial service sector, availing them the
opportunity to offer variety of E-banking service that has greatly
impacted on the economy of scale and scope of participants in the sector,
this albeit has exposed the bank and financial service sector to cyberc rime
risk, which pose serious threat to their survival. This research analyzed
the relationship between cybercrime and consumers' confidence in
Deposit Money Banks (DMBs). The research is qualitative and made use
of the primary data collected from 200 DMBs customers, using self-
structured and administered questionnaires. The hypothesis was tested
using correlation and regression. The finding of this research shows a
negative and significant relationship between cybercrime and consumers'
confidence and therefore recommends the need for accelerated ethical
awareness and culture o f both customers and staffs a s factors that
influence IT security and draw banks managements and policy makers'
attention to the importance of integrating cyber-security issues as part of
their corporate asset protection model. By so doing, it will leave little
opportunity for cybercriminals to attack banks customers as they will
become more aware and personally protective. Overall, the research
concludes that to enhance the survival of deposit money banks, cyber-risk
• must be integrated into the risk management framework of deposit money
banks.
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Citation
Ibrahim, S. A. (2021). Relationship between Cybercrime and Consumers Confidence in Nigeria Deposit Money Banks. Pacesetter Journal of Leadership and Development