Customer Perception towards Cyber Security Threats Affecting Online Banking and Online Transactions

Abstract

Purpose: This study was aimed to study about the cyber security issues in Sri Lanka and to give suggestions for those issues. According to managerial and social perspective this study will help to measure applicability of managers to ensure the safety of their customers and as a social guider this study will help to identify how that we can overcome cyber security issues. Design/Methodology/Approach: The researcher has used the quantitative method in this study. Convenient sampling method was used to gather data from 119 online customers in Colombo district using an online questionnaire. Perceived Identify Theft, Perceived Impersonation and Perceived Account Hijacked were the independent variables and E-banking adaptation and retention was the dependent variable in this study. For data analysis, descriptive statistics, independent sample T-test, ANOVA test, and multiple regression were used. Findings: Based on the study’s findings Perceived Identify Theft and Perceived Account Hijacked are having significant impacts on E-banking adoption and retention. The adjusted R square value of the multiple regression model 0.61 indicates that the Perceived Identify Theft and Perceived Account Hijacked explain 61% of E-banking adoption and retention. Originality: Findings of this study will help the banking sector and future researchers to identify the potential threats to e-banking systems and online transactions and the measures to mitigate them.