Abstract
The digital revolution is considered one of the most significant events in the course of human history. The exponential growth in the usage of the Internet, e-commerce, and mobile commerce has transformed the conduct of business. Similarly, the banking industry has experienced exponential growth as a result of the revolution in information technology. People without access to financial services now have more options to engage with and make direct use of banking services because of internet connectivity and mobile phones. Computers and other electronic media conduct all financial transactions nowadays. In order to use the internet's strength and keep up with the rapidly evolving business landscape, banks have established themselves on the Web. The digitalization of the banking sector has also led to an increase in the number of digital frauds in the country. Fraudsters and criminals have targeted cashless banking as a means to steal personal information from customers. Although cashless banking has improved bank efficiency and made people's lives easier, it also raises the danger of fraud and other risks. This study highlights the numerous risks that customers face when using cashless banking.
References
- Saluja S, Nair AJ. An Analysis on Frauds Affecting the Financial Security of the Indian Banking Sector: A Systematic Literature Review. Ethical Marketing Through Data Governance Standards and Effective Technology. 2024:201-18. http://dx.doi.org/10.4018/979-8-3693-2215-4.ch017
- Wonglimpiyarat J. FinTech banking industry: a systemic approach. foresight. 2017 Nov 13;19(6):590-603. https://doi.org/10.1108/FS-07-2017-0026
- Yazdanifard R, WanYusoff WF, Behora AC, Sade AB. Electronic banking fraud: The need to enhance security and customer trust in online banking. Advances in Information Sciences and Service Sciences. 2011;3(10):505-9. http://dx.doi.org/10.4156/aiss.vol3.issue10.61
- Alsayed A, Bilgrami A. E-banking security: Internet hacking, phishing attacks, analysis and prevention of fraudulent activities. International Journal of Emerging Technology and advanced engineering. 2017 Jan;7(1):109-15.
- Kaur DG. Threats to the rights of consumers in E-banking in India: An overview. Available at SSRN 2983199. 2017 Jun 8. Kaur, Gagandeep, Threats to the Rights of Consumers in E-Banking in India: An Overview (June 8, 2017). http://dx.doi.org/10.2139/ssrn.2983199
- Khonji M, Iraqi Y, Jones A. Phishing detection: a literature survey. IEEE Communications Surveys & Tutorials. 2013 Apr 15;15(4):2091-121. https://doi.org/10.1109/SURV.2013.032213.00009
- Aleroud A, Zhou L. Phishing environments, techniques, and countermeasures: A survey. Computers & Security. 2017 Jul 1;68:160-96. https://doi.org/10.1016/j.cose.2017.04.006
- Vaciago G, Ramalho DS. Online searches and online surveillance: the use of trojans and other types of malware as means of obtaining evidence in criminal proceedings. Digital Evidence & Elec. Signature L. Rev. 2016;13:88. https://doi.org/10.14296/deeslr.v13i0.2299
- Schuckers SA. Spoofing and anti-spoofing measures. Information Security technical report. 2002 Dec 1;7(4):56-62. https://doi.org/10.1016/S1363-4127(02)00407-7
- Blancaflor E, Romero MA, Nacu I, Golosinda DR. A Case Study on Smishing: An Assessment of Threats against Mobile Devices. InProceedings of the 2023 9th International Conference on Computer Technology Applications 2023 May 10 (pp. 172-178). https://doi.org/10.1145/3605423.3605446
- B., Tapasya. The Aspects of Probing into the Online Fraud of'Salami Slicing Attack'. Part 1 Indian J. Integrated Rsch. L.. 2022;2:1.
- Hazra D. What does (and does not) affect crime in India?. International Journal of Social Economics. 2020 Apr 16;47(4):503-21. https://doi.org/10.1108/IJSE-03-2019-0206
- Abdullah SM, Ahmed B, Ameen M. A new taxonomy of mobile banking threats, attacks and user vulnerabilities. Eurasian Journal of Science and Engineering. 2018 Jun 1;3(3):12-20. https://doi.org/10.23918/eajse.v3i3p12
- Ghandour A. Opportunities and challenges of artificial intelligence in banking: Systematic literature review. TEM Journal. 2021;10(4):1581-7. http://dx.doi.org/10.18421/TEM104-12
- AL-Dosari K, Fetais N, Kucukvar M. Artificial intelligence and cyber defense system for banking industry: A qualitative study of AI applications and challenges. Cybernetics and systems. 2024 Feb 17;55(2):302-30. https://doi.org/10.1080/01969722.2022.2112539
- Featherman MS, Pavlou PA. Predicting e-services adoption: a perceived risk facets perspective. International journal of human-computer studies. 2003 Oct 1;59(4):451-74. https://doi.org/10.1016/S1071-5819(03)00111-3
- Kamalul Ariffin S, Mohan T, Goh YN. Influence of consumers’ perceived risk on consumers’ online purchase intention. Journal of research in Interactive Marketing. 2018 Oct 16;12(3):309-27. https://doi.org/10.1108/JRIM-11-2017-0100
- Kagita MK, Thilakarathne N, Gadekallu TR, Maddikunta PK, Singh S. A review on cyber crimes on the internet of things. Deep Learning for Security and Privacy Preservation in IoT. 2022 Apr 4:83-98. https://doi.org/10.1007/978-981-16-6186-0_4
- Omariba ZB, Masese NB, Wanyembi G. Security and privacy of electronic banking. International Journal of Computer Science Issues (IJCSI). 2012 Jul 1;9(4):432.
