PERCEPTION OF BANKERS ON THE IMPACT OF ONLINE BANKING FRAUDS IN SCHEDULED COMMERCIAL BANKS IN PUDUCHERRY
DOI:
https://doi.org/10.29121/shodhkosh.v5.i1.2024.2098Keywords:
Phishing, Identity Theft, Unauthorized Access, Debit/Credit Card Fraud, Fake Banking Websites, Two-factor Authentication, Cybersecurity, Financial Fraud Detection, Digital Banking Security, Fraud Prevention MeasuresAbstract [English]
Banks are essential to the current state of the economy since they support both individuals and businesses while also promoting economic growth and financial stability. Banks face the challenge of safeguarding sensitive data, detecting fraudulent activities in real-time, and educating customers about secure online banking practices. The consequences of online banking fraud are far-reaching. Apart from financial losses, these incidents can damage the trust between banks and customers, leading to reputational risks for the banks.
This study investigates the perception of bankers regarding the occurrence and management of online banking frauds in scheduled commercial banks in Puducherry. It focuses on three key objectives: identifying the types of fraud encountered by banks, understanding the challenges faced by bankers in handling these incidents, and analyzing the protective measures adopted to mitigate fraud for customers. The research is based on a sample of 60 employees from public and private sector banks, utilizing questionnaires and surveys to gather data. Statistical tools like the Chi-square test, Pearson Correlation, and Friedman test were employed for analysis.
The results indicate that senior citizens are perceived as the most vulnerable group, and there is a significant association between the nature of banks and the types of fraud encountered. Furthermore, differences in protective measures were observed, with "never responding to emails requesting personal information" ranking highest in importance. Lastly, challenges faced by bankers, including weak authentication systems and insufficient fraud detection tools, were found to be significantly correlated with the nature of the bank. All null hypotheses were rejected, suggesting that significant relationships exist between the studied variables, highlighting the critical need for enhanced protective measures and better fraud management practices in the banking sector.
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