An analysis on the impact of cybercrime on the performance of financial Institutions domiciled in Harare
- Author
- Israel, M. Mvundura
- Title
- An analysis on the impact of cybercrime on the performance of financial Institutions domiciled in Harare
- Abstract
- This study, an analysis on the impacts of cybercrime on the performance of financial institutions domiciled in Harare, is a survey of banks located in Harare Central Business District. The study was guided by the following objectives, to assess the impacts of cybercrime on the performance of financial institutions, to analyse the advancement of information and communication technology in the banking sector and establish link between ICT and cybercrime, to identify types of cybercrimes prevalent in financial institutions and to recommend strategies that can be put in place to reduce impacts of cybercrime in Zimbabwe. The study population was 15 commercial banks, 4 building societies and 4 savings banks, bank customers and Zimbabwe Republic Police. This is where a sample size of 46 respondents was derived using stratified random sampling and convenience sampling techniques. Data was gathered using questionnaires and interview guides. From the study it was found out that, cybercrime is directly linked to ICT hence, ICT necessitates cybercrime. Hacking and electronic card fraud, were considered to be more prevalent in financial institutions, phishing being the least. From the research findings, it was deduced that Cybercrime have a negative impact on the performance of financial institutions in Zimbabwe as it causes financial and non- financial impacts. Basing on the conclusion of the study, it can be recommended that, constant educational programs, upgrading system on regular basis, implementation of shielded authentication and use of multi-layer security can help financial institutions to safeguard against cybercrime.
- Date
- 2022
- Publisher
- BUSE
- Keywords
- Cybercrime
- ICT
- Supervisor
- N/A
- Media
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ISRAEL MVUNDURA M.pdf