Data Analysis of Cybercrimes in Businesses

Balan, Shilpa; Otto, Joseph; Минасян, Е Т; Aryal, Arun

doi:10.1515/itms-2017-0011

Cited by 10 publications

(11 citation statements)

References 6 publications

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“…From the internal control point of view, Balan et al (2017) stressed further that to avoid inadequate security, it needs to improve the internal control: the implementation of strong internal control measures has immunized some organizations to fraud perpetration; hence, the consolidation or reinforcement of internal control measures will enable organizations to be more proactive and effective in their fight against cyber fraud.…”

Section: Literature Reviewmentioning

confidence: 99%

Analysis of cyber-crime effects on the banking sector using the balanced score card: a survey of literature

Akinbowale

Klingelhöfer

Zerihun

2020

JFC

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Purpose This study aims to explore the effect of cybercrime on the banking sector and also analyse using balance score approach, the focus of existing literature relating to cybercrime in the banking sector. Design/methodology/approach In this study, a balance scorecard (BSC) was applied to analyse the effect of cybercrime in the banking sector. This was focussed on two out of the four perspectives of BSC. To achieve this, secondary data was used, that is, data from existing research. Findings The outcome of this study indicated that the focus of most of the existing research reviewed regarding cybercrime is on financial perspective of the banking sector and customer perception towards the banking services, that is, the implication of cybercrime on customer perception and financial services. Originality/value The novelties of this work lie in the fact that the use of the BSC for the analysis of the cybercrime has not been sufficiently highlighted by the existing literature. Furthermore, the existing research have focussed more on the effect of cybercrime from the financial perspective of the banking sector and customer perception towards the banking services, that is, the implication of cybercrime on customer perception and financial services. In addition, to the effect of cybercrime from the financial and customer perspectives, this work gives an insight to other perspectives such as the internal processes and learning and growth aspects.

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Section: Literature Reviewmentioning

confidence: 99%

Analysis of cyber-crime effects on the banking sector using the balanced score card: a survey of literature

Akinbowale

Klingelhöfer

Zerihun

2020

JFC

View full text Add to dashboard Cite

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“…This calls for the development of robust internal control measures, such as periodic JFC 29,3 auditing, close monitoring, forensic investigation and may also include intermittent staff shuffles or redeployments. The vulnerability of customers and financial institutions to external cyberattacks can also be traced to low levels of sensitisation and the lack of proper online monitoring systems (Balan et al, 2017). This points to the fact that financial institutions need to reinforce existing security apparatus and intelligent systems to be more proactive rather than being reactive.…”

Section: Literature Reviewmentioning

confidence: 99%

Analytical hierarchy processes and Pareto analysis for mitigating cybercrime in the financial sector

Akinbowale

Klingelhöfer

Zerihun

2021

JFC

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Purpose The purpose of this study is to use a decision support model based on the Analytical Hierarchy Process (AHP) and Pareto analysis (PA) for ranking the impact of different kinds of cybercrime in organisations in the financial sector to support decisions on cybercrime mitigation. Design/methodology/approach From a structured questionnaire to the staff of 17 licensed banks in South Africa in charge of management, administration and operations, the perceived effect of cybercrime on the organisation’s goals, namely, organisation’s profitability, goodwill, customers’ satisfaction and risk management was derived. The pairwise comparison of the organisation’s goals and identified forms of cybercrime was done using the AHP. Findings The results obtained indicate that there was a consensus (100% of the answers) that the effect of cybercrime has negatively impacted the organisation’s objectives profitability and goodwill. Also, still 95.23% of the respondents agreed that the effect of cybercrime has negatively impacted the level of customers’ satisfaction, while only 7.15% saw an impact on the organisation’s risk management processes. Using these results in the AHP, analysis delivers a hierarchical order about the relevance of prevalent forms of cybercrime for the organisation´s cybercrime mitigation. The PA further shows the magnitude of the forms of cybercrime relative to each other. Practical implications Hence, this study provides a decision support framework for organisational management in the quest to explore the impact of cyber fraud. It can serve as a practical guided approach for the application of AHP analysis for the existing and emerging forms of cybercrime. Originality/value The novelty of this study lies in the fact that the combination of the AHP and PA to support solving a multi-criteria decision problem relating to the prevalence of cybercrime has not been sufficiently highlighted by the existing literature.

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“…The rise of fintech began in 2008, when the global financial crisis forced financial companies to cut costs, and is closely linked to other notable subsectors like Cybersecurity and the rapidly growing Blockchain subsector [8]. Huge financial institutions all over the world have taken the biggest hit from both economic and public trust perspectives.…”

Section: Emergence and Development Of Fintechmentioning

confidence: 99%

Fintech as a transformation driver of global financial markets

Serbulova

2021

E3S Web Conf.

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Information technology is a driving innovation in the financial industry now. Fintech is a disruptive innovation capable of changing traditional financial markets. Although the fintech has been widely discussed, there is a lack of consensus on the definition of the term in the scientific literature. This article investigates the concept of fintech, discusses the emergence and development of fintech sector, and points out new routes and trends in the field of study. This research focuses on the next generation technologies impact on fintech, key drivers and challenges in the global fintech industry. The research represents the current most sensitive aspects also linked to the more global theme of digital transformation. Finally, subject related to the fintech infrastructure in Russia is performed. From practical aspect, this paper is also a direction for companies to help them find out promising technology in fintech. The paper can inspire future research on fintech and its application in the business world.

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Data Analysis of Cybercrimes in Businesses

Cited by 10 publications

References 6 publications

Analysis of cyber-crime effects on the banking sector using the balanced score card: a survey of literature

Analysis of cyber-crime effects on the banking sector using the balanced score card: a survey of literature

Analytical hierarchy processes and Pareto analysis for mitigating cybercrime in the financial sector

Fintech as a transformation driver of global financial markets

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