Considerations Regarding the Security and Protection of E-Banking Services Consumers’ Interests

A significant number of breaches in the security of electronic banking (e-Banking) system is reported each year, drawing attention to the need to protect and inform customers about the risk of exposure to malicious actions initiated by cyber-criminals. Financial institutions and consumers recognize the fact that attacks and financial frauds are becoming more complex and are perpetrated by a different class of criminal. This class is increasingly sophisticated and uses technology as part of their strategy. Furthermore, the specialists forecast that the current global recession is likely to increase the frequency of internal fraud and security breaches. The present research tries: (1) to analyze the potential dangers threatening the security of e- Banking services through a comprehensive investigation of the relevant literature; (2) to identify the tools and methods that can ensure the consumers’ protection in E-Banking, (3) to present the results of a pilot study regarding the Romanian consumer perception on the protection and security related to E-Banking servicesE-Banking services, security, consumer protection, cyber-attack

Privacy Policies on Global Banks\u27 Websites: Does Culture Matter?

Information privacy, the ability to control the information about oneself, is increasingly relevant as advancing technologies provide opportunities for ever faster and more extensive data collection. Electronic business continues to see the collection and storage of various types of customer information for use in increasingly innovative ways, resulting in enhanced marketing and services as well as concern from the customer about privacy. Online banking, in particular, is strongly impacted by customers\u27 concerns for privacy due to the sensitivity of the information it handles. Previous research has examined privacy concerns, including the impact of culture. This study is a global examination of global banks\u27 privacy policies as promulgated on their websites designed to gain insight into the communication of privacy practices throughout the world. Results indicate that there is a great deal of variation among what is disclosed on banks\u27 websites in different countries

Replication of Internet Privacy Concerns in the Mobile Banking Context

This study is a conceptual replication of the work of Hong and Thong (2013), who developed the Internet Privacy Concerns scale to measure individuals’ concerns regarding how personal information is handled by websites. We adapt the wording of the original survey items to the context of mobile banking and follow the same procedures to assess the scale. The replication results reinforce the stability and applicability of the scale over the years and in different scenarios. In contrast with the original study, however, we detect a high correlation between the Control and Awareness dimensions, suggesting the design of an additional second-order dimension that we label “exposure management” (individuals’ consciousness about existing controls that mitigate the risks of personal data loss)

Plastic Money and Electronic Banking Services Espousal vis-a-viz Financial Identity Theft Fraud Risk Awareness in a Developing Country

Exploitation of plastic money coupled with electronic banking services has come as expediency to financial establishment customers in Zimbabwe. This paper sought to analyze plastic money and electronic banking services espousal vis-a-viz financial identity theft fraud risk awareness in Zimbabwe banking sector via banks’ websites. The theoretical underpinning for this study is Routine Activity Theory. The study used qualitative content analysis research technique for examination of the text content data through the consistent taxonomy process of coding and classifying themes or patterns to submit a painstaking considerate of financial identity theft fraud awareness by the banking sector in Zimbabwe. A sample size of 14 banks (including commercial, merchant and building societies) was used and the banks were arbitrarily chosen on the basis of website accessibility and ease of use of the data. The study findings suggest that there is very little financial identity theft awareness in Zimbabwe by the banking sector through their websites to the general public whilst there is amplified adoption of plastic money and electronic banking adoption. This study proposes a need to amplify the information and inform plastic card and electronic banking customers of the types of financial identity theft fraud. Plastic card and electronic banking is an urgent area to focus on for banking institutions and should inexorably capitalize in it. Financial identity theft information should be easily retrievable and conveyed in a manner that makes reasonableness to the varied customers.&nbsp

Privacy Regulations in the Context of Finance: Comparison Between Developing and Developed Countries

Information security and privacy regulation are significant areas of legislation in the financial and micro-finance sectors in the world. There are significant disparities between the developed and developing countries concerning adoption and application of the data protection laws. The developed world has exemplified its laws in the General Data Protection Regulation (GDPR) clause of the European Union that comes into effect on May 18, 2018. In the US, the main law has been the Gramm-Leach-Bliley Act (GLBA) of the late 1990s. The developing countries, on the other hand, exhibit slow drafting of new finance and micro-finance privacy laws and still use policies of the 1990s. The purpose of the study is, therefore, to examine the effectiveness of privacy and data protection laws in finance and micro-finance sectors in the developed and developing parts of the world in the current technological era. The method of the study is a mixed qualitative and quantitative assessment of case studies of recent literature on the subject. Each case study will feature the variables of the presence of privacy laws and information security regulations, and the level of enforcement of those regulations that inform the statistics. The other variable will be the level of effectiveness of the application of privacy and information security laws in developed and developing nations based on case study outcomes. The results indicate that out of 10 examined cases, six show failures of the laws in developing nations while 1 shows failure in a developed nation (South Korea) and 1, in the US, presents mixed results. The recommendations include the adoption of international laws that govern data security in the financial sector, such as the current GDPR of the European of Union

An Examination of the Factors Impacting Student Satisfaction and Continuance Intention to Use Online Payments in Chengdu, China

Purpose: This research investigates factors impacting student satisfaction and continuance intention to use online payments in Chengdu, China. Quantitative research method serves as the foundation for the study. Service quality, privacy, confirmation, perceived usefulness, perceived security, satisfaction, and continuance intention are variables according to the Technology Acceptance Model (TAM), Information Systems Success Model (ISSM), and Expectation Confirmation Theory (ECT), which construct the conceptual framework of the research. Research design, data, and methodology: In a preliminary study, the Item Objective Congruence (IOC) Index and the Cronbach alpha statistic were used to assess content validity and internal consistency reliability. Additionally, 500 students from selected universities were analyzed by the application of confirmatory factor analysis (CFA) and structural equation modeling (SEM). Results: The results confirmed that service quality and privacy having the strongest effects on satisfaction. Continuance intention is directly influenced by satisfaction. Conclusions: The service quality of online payment systems must be improved, and user privacy must be better protected to increase students’ satisfaction with online payment and their desire to use it in the future. Managers need to take customer information protection very seriously. Moreover, the relevant agencies will adjust the policy to serve as a foundation

Role of Environmental Sustainability, Psychological and Managerial Supports for Determining Bankers Green Banking Usage Behavior: An Integrated Framework '

PURPOSE: Green banking, an ethical banking concept, concentrates on environmental protection and encourages social and environmental sustainability, perceived cognitive efforts, and subjective norms ensuring ecologically responsive banking services. Consequently, although there have been considerable green banking attempts in Bangladesh, it is yet unknown how environmental sustainability, perceived cognitive effort, and subjective norms affect usage behavior. The present research aims to uncover this gap, extending the Theory of Reasoned Action (TRA) to examine the determinants of the bankers’ green banking usage behavior during COVID-19. METHODS: Data were collected from 366 bankers in Bangladesh using a purposive sampling technique and analyzed with structural equation modeling (SEM) using SMART PLS 3 software. FINDINGS: The study found management support (0.291, t-statistics = 1.978, p 0.000), environmental sustainability (β = 0.278, t-statistics = 2.752, p < 0.001), perceived cognitive efforts (β = 0.401, t-statistics = 3.549, p < 0.000), and subjective norms (β = 0.309, t-statistics = 4.352, p < 0.000) influence bankers’ attitudes. Whereas environmental sustainability (β = 0.503, t-statistics = 3.726, p < 0.001), perceived cognitive efforts (β = 0.103, t-statistics = 2.020, p < 0.002), subjective norms (β = 0.281, t-statistics = 4.607, p < 0.000), and attitudes (= 0.602, t-statistics = 5.523, p 0.015) influence bankers’ green banking usage behavior. Finally, the mediating role of management supports, environmental sustainability, cognitive efforts and subjective norms on green banking usage behavior through attitudes was significant. CONTRIBUTION/CONCLUSION: The study contributed to existing literature validating the proposed holistic framework applying TRA and three contemporary dimensions explaining bankers’ behavior toward green banking practice. Finally, the implementers should focus on green banking practices as green banking is one of the key strategies to protect the environment, assure social justice, and create economic success