Joseph A. Ojeniyi; Elizabeth O. Edward; Shafii M. Abdulhamid

Security Risk Analysis in Online Banking Transactions: Using Diamond Bank as a Case Study

Full Text (PDF, 351KB), PP.1-14

Views: 0 Downloads: 0

Author(s)

Joseph A. Ojeniyi ^1,* Elizabeth O. Edward ¹ Shafii M. Abdulhamid ¹

1. Department of Cyber Security Science, Federal University of Technology Minna, Niger State, Nigeria

* Corresponding author.

DOI: https://doi.org/10.5815/ijeme.2019.02.01

Received: 30 Oct. 2018 / Revised: 27 Nov. 2018 / Accepted: 17 Dec. 2018 / Published: 8 Mar. 2019

Index Terms

Risk Management, Online Transactions, Risk analysis, Internet Banking

Abstract

This study is devoted to evaluating the security risk analysis and management in Online Banking transactions using Diamond Bank PLC, Nigeria among other banks. In this paper, a research was carried out in order to evaluate the security risk analysis and management in online banking transactions through the use of the questionnaire to determine the level of risk that customers of financial institutions are likely to encounter. The study indication shows that awareness need to be intensified in terms of risk associated with clients saving password and other transaction details in their devices used in performing an online transaction. Also, the bank should improve on their banking transaction application in order to maintain integrity in view of customer account information.

Cite This Paper

Joseph A. Ojeniyi, Elizabeth O. Edward, Shafii M. Abdulhamid,"Security Risk Analysis in Online Banking Transactions: Using Diamond Bank as a Case Study", International Journal of Education and Management Engineering(IJEME), Vol.9, No.2, pp.1-14, 2019.DOI: 10.5815/ijeme.2019.02.01

Reference

[1]W. He, X. Tian, and J. Shen, “Examining Security Risks of Mobile Banking Applications through Blog Mining,” 2014.

[2]K. Subrahmanyam, M. Haritha, V. Tejaswini, C. Balaram, and C. Dheeraj, "Information Security and Risk Management for Banking System Nomenclature : Major Aspects : Information Security ," vol. 10, no. 3, pp. 171–176, 2014.

[3]T. Kanchu and M. M. Kumar, “RISK MANAGEMENT IN BANKING SECTOR -AN EMPIRICAL STUDY,” vol. 2, no. 2, pp. 145–153, 2013.

[4]C. Odhiambo, N. Joe, and E. Abade, "Evaluation of Information Security Risk Assessment for Internet Banking Among Commercial Banks in Kenya," vol. 5, no. 3, pp. 51–59, 2016.

[5]V. R. Ambhire and P. S. Teltumde, “Information Security in Banking and Financial Industry,” vol. 14, no. October, pp. 101–105, 2011.

[6]Chornous, G., & Ursulenko, G. (2013). Risk Management in Banks: New Approaches to Risk Assessment and Information Support. Ekonomika, 92(1), 120–132.

[7]Kiran, K. V. D., Sruthi, P., Neema, P. S., Vani, G. V. S. M., & Sahu, R. (2014). Risk Assessment in Online Banking System, 9(6), 279–285.

[8]Sarma, G., & Singh, P. K. (2010). Internet Banking : Risk Analysis and Applicability of Biometric Technology for Authentication. International Journal of Pure and Applied Sciences and Technology, 1(2), 67–78.

[9]K. Elissa, “Title of paper if known,” unpublished. Sobhy, M., Abbas, S., & Salem, A.-B. M. (2015). Knowledge Discovery for Banking Risk Management. Proceedings of the International Conference on Intelligent Information Processing, Security and Advanced Communication - IPAC ’15, 1–6. https://doi.org/10.1145/2816839.2816853.

International Journal of Education and Management Engineering (IJEME)