Online banking fraud detection: A comparative study of cases from South Africa and Spain
South African Journal of Information Management
| Field | Value | |
| Title | Online banking fraud detection: A comparative study of cases from South Africa and Spain | |
| Creator | Phiri, Joy Lavhengwa, Tendani Segooa, Mmatshuene A. | |
| Description | Background: The banking sector provides online banking to offer their customers convenient and easy access to banking services. As most banking services are nowadays performed online, alarming fraudulent activities occur daily. The online banking frauds are increasingly and commonly being experienced globally and are damaging to both banks and customers.Objectives: The goal of the study was to investigate issues in online fraud detection in the banking sector from South Africa and Spain.Method: The study followed the Design Science Research (DSR) methodology. Data were collected through the qualitative approach particularly using focus groups and semi-structured interviews. The study followed non-probability sampling since it focussed on a specialised area of online fraud model. In total, the population size consisted of 17 participants, which included fraud technical managers, fraud investigator specialists, fraud technical specialists and data scientists.Results: In the South African context, the study established that there is a lack of online fraud experts in the banking sector. The findings reveal that the lack of online fraud expertise may lead to banks having weak detection systems. In the Spanish perspective, the study revealed that there is a lack of law regulation that poses a high risk.Conclusion: Given the lack of online fraud experts in the banking sector, banks are urged to acquire and develop online fraud expertise. Online banking technology is developing expeditiously than traditional transactions; therefore, regulations and policies need to be updated regularly to keep up with rapidly evolving technological changes.Contribution: Considering the significance of global online banking, the study suggested areas that the banking sector may investigate to develop and enhance online fraud detection models to combat online fraudulent activities. | |
| Publisher | AOSIS | |
| Date | 2024-03-20 | |
| Identifier | 10.4102/sajim.v26i1.1763 | |
| Source | South African Journal of Information Management; Vol 26, No 1 (2024); 8 pages 1560-683X 2078-1865 | |
| Language | eng | |
| Relation |
The following web links (URLs) may trigger a file download or direct you to an alternative webpage to gain access to a publication file format of the published article:
https://sajim.co.za/index.php/sajim/article/view/1763/2689
https://sajim.co.za/index.php/sajim/article/view/1763/2690
https://sajim.co.za/index.php/sajim/article/view/1763/2691
https://sajim.co.za/index.php/sajim/article/view/1763/2692
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