Effect of Cyberfraud and Cybersecurity Awareness on Usage Intention of e-Banking Users in India
Mohammed Afzal, Naseem Ahmad, Mohd Shamim Ansari · 2024
The alarming surge in cybercrime with its dire consequences presents a significant threat to financial institutions in India, particularly impacting banks due to their heavy reliance on internet-based platforms such as e-Banking. Research has consistently shown that banks are among the most vulnerable sectors to cyber threats. This study combines insights from cyber-security and the Technology Acceptance Model (TAM) to explore how cyberfraud affects the intention of e-Banking users in India to use these platforms. The findings reveal a positive correlation between e-Banking users’ understanding of cybersecurity and their willingness to use e-Banking services. Moreover, the level of users’ behavioural protection is influenced by their knowledge and awareness of cybersecurity threats. These results are consistent with the TAM framework, indicating that factors such as cybersecurity knowledge, awareness, and behavioural protection significantly impact users’ intention to engage with e-Banking platforms. Due to the escalating prevalence of cyberfraud, it is imperative to enhance cybersecurity awareness among e-Banking users. This not only protects their bank accounts but also fosters greater acceptance and trust in e-Banking services.