Cybercrime in banks, study in Kumasi Metropolis

Abstract

Cybercrime is an issue that has attracted the attention of financial institutions, credit bureaus, state legislators, and most certainly law enforcement agents. Cybercrime is presently the most announced kind of crime by financial institutions, and as suppliers of the national framework through their financial administrations, the manners by which these organizations react to and comprehend dangers is of specific significance to a country's security and strength. The goal of this study was to evaluate bank cybercrime. However, the specific goals were to determine facets of cybercrime, investigate major threats that banks face in today's cybercrime, and determine ways to mitigate cybercrime in banks. It was found that operating a bank in this technological age is a challenge and risky because of cybercrime. The investigation reveals that Extortions, disclosure of bank secrets, weaknesses in the management of online transactions, and hacking have made banks vulnerable to exploitation. This action has helped cyber fraudsters to perpetuate their treacherous act with ease. Adopting public education on cybercrime and, the right banking measures and building better internet and cybersecurity systems that have the propensity to avert tendencies of fraud. Again, the website of banks must be secured and periodically enhance security mechanisms to avoid vulnerabilities.