Cyber Security Challenges to Mobile Banking in SACCOs in Kenya

Authors

  • Nambiro Alice Wechuli Department of Information Technology, Kibabii University, Bungoma, Kenya
  • Wabwoba Franklin Department of Information Technology, Kibabii University, Bungoma, Kenya
  • Wasike Jotham Department of Library Services, Kirinyaga University, Kerugoya, Kenya

Keywords:

Cyber-attack, Cybercrime, Cyber security challenges mitigation, Mobile banking, SACCO.

Abstract

Development of mobile technology has enabled mobile devices to be adopted in daily activities. Financial institutions are adopting mobile devices for banking purposes to enable their clients to bank from anywhere at any time. Although, the adoption of mobile technology enabled convenience to the users, it has brought about a great security challenge. This paper reviews the cyber security challenges to mobile banking and ways which SACCOs minimize the impact. Findings indicate that some mitigation strategies to cyber threats to mobile banking are in place though they seem not to address the major challenges.

References

Watson, R., Leyland, P.P., & George, Z. U-Commerce: Expanding the universe of marketing. Journal of the Academy of Marketing Science, 30(4), 333-347, (2002).

2015 industry drill-down report. Financial services, (2015).

Chitrey A., Singh D., Bag M. and Singh V. A Comprehensive Study of Social Engineering Based Attacks in India to Develop a Conceptual Model. International Journal of Information & Network Security (IJINS), 1(2), (2012).

Omondi, D. How fraudsters are sneaking into your mobile phone to steal private information. The Standard Newspaper, (2016 February 8th).

ISACA, (2012). ISACA ® Glossary of Terms. Available at: https://www.isaca.org/glossary.

Paans, R. Part 6D Introduction Code of Practise for Information Security Code ISO 27002:2005. Post Graduate IT Audit opleiding Vrije Universiteit. (2010).

Nambiro, A. W., Muchiri, G. M. and Matoke, N. Survey of Cyber Security Frameworks. International Journal of Technology in Computer Science & Engineering, 1(2), 33-39 ISSN 2349-1582, (2014). Available online at http://www.ijtcse.com

SACCO Briefs. Managers and Board Members: Implications of the SACCO Societies Act and Regulations, (2011).

Harris, A., Goodman, S. and Traynor P. Privacy and Security Concerns Associated with Mobile Money Applications in Africa. Washington Journal of Law, Technology & Arts, 8 (3), (2013).

Mumanyi, E. A. L. Challenges and opportunities facing SACCOs in the current devolved system of government of Kenya: A case study of Mombasa County. International Journal of Social Sciences and Entrepreneurship, 1 (9), 288-314, (2014).

Janczewsk L. J. and Fu L. Social Engineering-Based Attacks: Model and New Zealand Perspective. Proceedings of the International Multiconference on Computer Science and Information Technology pp. 847–853, (2010).

Blackburn, J.and Waters, G. Optimizing Australia's Response to the Cyber Challenge. Kokoda Foundation. (2011).

Fried, I., (2012). At Defcon, Hackers Show How to Hack Your Android Phone Encryption, ALL THINGS D, http://allthingsd.com/ 20120728/at-defcon-hackers-show-how-to-bypass-android-encryption/.

Hasan M., Prajapati N. and Vohara S. Case study on social engineering techniques for persuasion. International journal on applications of graph theory in wireless ad hoc networks and sensor networks, 2 (2), (2010)

Purkait S. Phishing counter measures and their effectiveness – literature review. Journal of Information Management & Computer Security, 20 (5), (2012)

Greitzer F. L., Strozer J. R., Cohen S., Moore A. P., Mundie D. and Cowley J., (2014). Analysis of Unintentional Insider Threats Deriving from Social Engineering Exploits. 2014 IEEE Security and Privacy Workshops.

Nelson R. (2008). Methods of Hacking: Social Engineering. online. Available at: http://www.isr.umd.edu/gemstone/infosec/ver2/ papers/socialeng.html, last accessed on 2013-07-04.

Thorawade M.B. and Patil S.M. Authentication Scheme Resistant to Shoulder Surfing Attack Using Image Retrieval. International Journal of Knowledge Engineering, 3 (2), (2012).

Adams A. and Sasse M.A. Communications of the ACM, 42, 41-46, (1999)

Granger, S. Social Engineering Fundamentals, Part I: Hacker Tactics. SecurityFocus, (2001).

Schmidt, A.D. Detection of Smartphone Malware. Technischen Universitat Berlin, (2011).

Jassal R., K. and Sehgal R., K. Study of Online Banking Security Mechanism in India: Take ICICI Bank as an Example. IOSR Journal of Computer Engineering, 13 (1) pp 114-121, (2013).

Mannan M. and van Oorschot P.C. Security and Usability: The Gap in Real-World Online Banking. New Security Paradigms Workshop, (2007).

Downloads

Published

2017-10-18

How to Cite

Wechuli, N. A., Franklin, W., & Jotham, W. (2017). Cyber Security Challenges to Mobile Banking in SACCOs in Kenya. International Journal of Computer (IJC), 27(1), 133–140. Retrieved from https://www.ijcjournal.org/index.php/InternationalJournalOfComputer/article/view/1086

Issue

Section

Articles