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AN EMPIRICAL SURVEY TO SUBSTANTIATE THE NEED FOR IMPROVEMENT IN USER SECURITY AWARENESS IN MOBILE BANKING IN NIGERIA

Volume: 108  ,  Issue: 1 , September    Published Date: 02 September 2022
Publisher Name: IJRP
Views: 302  ,  Download: 216 , Pages: 9 - 24    
DOI: 10.47119/IJRP1001081920223844

Authors

# Author Name
1 Emmanuel Eturpa Salami
2 Osaremwinda OMOROGIUWA
3 Lucky Joseph Ogbogbo

Abstract

Mobile banking application solutions are now the most preferable means of performing financial transactions and almost all banks in Nigeria have developed and deployed at least one mobile application to service their Client (Customers). However, the security of users of these solutions is a critical issue that cannot be overlooked and understand the concerns of users (Customers) when it comes to their privacy, data, and their perceptions on the issues of access delegation, an empirical survey was conducted to identify what user opinion and concerns are. This study seeks to investigate if users of mobile banking applications have sufficient security awareness and if it has translated into better security protection measures. Also, the knowledge level on the security features available on mobile banking apps and the best way users can be educated to understand their role in securing their privacy. The research work investigates the security risk in access delegation by the account holders to third parties. The findings from the survey identified a low level of security awareness among users in terms of security safety measures as only 14.4% of respondents admitted that they will consider security as a factor which further that there is a lack of security awareness among users and this has heightened the concerns of users with 58.2%  expressing serious concern over their privacy and the problem of Access delegation as a risky behavior most users indulge in. The study also reveals that most users believe that the current security measures in mobile banking are at a low level. An Empirical Survey using quantitative descriptive analysis was used for analyzing the data collected and the tool used for data collection was a structured questionnaire and Statistical Package for Social Science (SPSS) to code the data for analysis.

Keywords

  • Security
  • Hacking; Black Hat Hacker; White Hat Hacker; GoK Laws; RoK ICT policy; Ethical Hacking Training; ANU Institutional Policies; Awareness;
  • cybersecurity
  • mobile banking
  • User