Guardians of the vault: unmasking online threats and fortifying e-banking security, a systematic reviewIftikhar Ahmad, Salim Khan and Shahid Iqbal Journal of Financial Crime, 2024, vol. 31, issue 6, 1485-1501 Abstract: Purpose - The purpose of this paper is to investigate and analyze the adoption of digital technologies in the banking industry and its impact on the rise of digital fraudulent activities, specifically focusing on online banking frauds. This paper aims to provide insights into the current technologies implemented by banks to secure their online banking systems and explores the methods used by cybercriminals to exploit security vulnerabilities in these systems. Design/methodology/approach - In order to understand how digital technologies in banking can be secured against online fraud, this research conducted a systematic literature review (SLR) on digital banking, online banking fraud, and security measurements. The review encompasses a variety of sources from online databases such as Emerald Insight, Google Scholar, IEEE, JSTOR, Springer and Science Direct. Findings - The key finding of the paper is that the adoption of digital technologies in the banking industry has led to a significant increase in digital fraudulent activities, particularly in the form of online banking frauds. This paper emphasizes that these frauds have become a global concern and have evolved into an industry where cybercriminals use sophisticated tools such as phishing attacks, denial-of-service attacks, Trojan horses, malware infections, identity theft and computer viruses. Research limitations/implications - This study relies solely on a literature review without incorporating primary data or case studies; therefore, it might miss out on the firsthand experiences and perspectives of banks and cybersecurity professionals. Practical implications - This study emphasizes the need for banks to adopt advanced security measures to safeguard their online banking systems. Social implications - This study underscores the importance of ongoing training and awareness programs for both bank employees and customers. Originality/value - This study specifically addresses the adoption of digital technologies in the banking industry and its correlation with the increase in digital fraudulent activities. This focus on the intersection of technology and fraud in the banking sector is a distinctive aspect. This study conducts a SLR to examine the current technologies implemented by banks to safeguard their online banking systems. This comprehensive approach provides insights into the diverse security measures used by banks to protect against various types of cyber threats. Keywords: Online-banking frauds; Online crimes; Cyber security threats; Online security; Online privacy; Research synthesis (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eme:jfcpps:jfc-11-2023-0302 Access Statistics for this article Journal of Financial Crime is currently edited by Dr Li Hong Xing and Prof Barry Rider More articles in Journal of Financial Crime from Emerald Group Publishing Limited |
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