BAS 490 GMU Security of Internet Data in Online Mobile Banking Development PPT hey kevin,i am assigning you this question since its based on the previous a

BAS 490 GMU Security of Internet Data in Online Mobile Banking Development PPT hey kevin,i am assigning you this question since its based on the previous assignment you did. i am going to attach the research paper you did for me and can you please create powerpooint about 10 to 15 slides Running head: PROPOSAL TO UNCOVER CYBERINSEURITY IN ONLINE BANKING 1
Action Research Proposal
Hardev Sidhu
Ricardo Sanchez
BAS 490
DETERMINING THE SECURITY OF INTERNET DATA AS A KEY FACTOR IN
ONLINE MOBILE BANKING DEVELOPMENT
PROPOSAL TO UNCOVER CYBERINSEURITY IN ONLINE BANKING
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Introduction:
In the current status of my studies, I have realized that there has been a concentration of
various issues related to cyber insecurity and particularly in the banking sector. Most importantly,
there is a rise in internet fraud related to online banking in a case where huge and most crucial
information has been hacked and been used in theft related to cash for the financial institutions.
The Internet is good and bad. If it is not well restricted, it can overturn the world since there would
be the possibility of all types of fraudulent activities and in this case among the internet banking
sector. On the other hand, there are a whole lot of possibilities attached to the internet such as
enhancing the efficiency of operations such that people do not have to be visiting the physical
institutions for them to transact their financial operations. In this case, it requires just a click of a
button to be able to get the service right at the convenience of the person.
However, this has been the case that has raised a lot of issues among the institutions as
other internet gurus who are not ethical in their standards have taken this great opportunity to
attack the various systems, which they think that they have not been well secured. This may as
well have been through some information getting leaked through to such individuals by the
personnel in the sectors. In this case, I, as a student in this great area of information technology, I
have gained great concern about this issue which have effects to the most innocent individuals
such as the banking customers, the staff attached to the institutions and the institutions themselves
whereby huge amounts of either data or money gets drained.
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The banking sector has experienced tremendous development with the enhancement of all
the operations that take place within the industry. Gone are the times when people even outside
the state and town areas used to visit the physical banks so that they may be in a position to transact
by either withdrawing or depositing their cash. Nowadays, the banking sector which is a strong
pillar for the development of the economy and the growth of various investments has invented the
development of online or electronic banking which is being done over mobile phones at the
convenience of an individual irrespective of a person’s location.
To that effect, banks have experienced various security issues associated with cyberattacks
whereby people have been defrauded and money stolen from their accounts by hackers so much
intelligence that they can access one’s information online and they end in forcing another to an
extent that they access their accounts. Therefore, this has led to the idea of trying to determine the
level of security of a person’s banking data over the internet for the development of the sector
(“How hackers rob banks”, 2020). This is also an issue that has greatly affected the banks
themselves in that they are spending a huge amount of resources to ensure their systems are secure
and reduce the gaps or holes which are used by cybercriminals.
(Dr. Manisha, Nalawade & Meenakshi, 2016) have researched on “Online Banking and
Cyber Attacks: The Current Scenario”. This is a study that is in support of my implications above
based on the rise of online banking cyberattacks that have been on the rise. The authors have
indicated that the integral activities among banks have been revolutionized through the
globalization in online banking. It is the internet that has enhanced the great communication that
we experience in the institutions as well as the huge information exchange, ideas and even finances
by just a click. This is a fast track of operations as well as improved convenience of functionalities.
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However, these researchers have supported the fact that in this sector, information
technology has got misused in cyberspace pulling up cybercrime up to the international level even
to highly structured banks. This has doubled the level of risk that is associated with these
tendencies. Hackers are developing new tricks day by day which as seen the statistics of the
cybercrimes go up high with a higher percentage. They have noted the effect that cybercrime had
on the Reserve Bank of India which is one country where these online attacks are on the rise. Most
importantly to note is that among the individuals who conduct these operations are the youths
between the age brackets of 18 to 30 years. This is the case I would propose that the IT students
get enhanced an equipped adequately such that they will be able to overcome such heinous
activities whenever they get the opportunity to work in the banking sectors.
There is a whole lot of literature review that has been provided by various researchers
experienced in this area of cyber insecurity that has given support to my implication. Adding to
this, (Prof. Dr. Rashad, Wan, Abu & Alawa, 2011) researched on “Electronic banking fraud; The
need to enhance security and customer trust in online banking”. They have noted that there is a
vast growth in online banking for the past years which seems to continue with the same progress
with the enhancement of technology and information scope through IT. This is in effect to the fact
that banking customers have been encouraged to conduct transactions online such as access to their
crucial information, transfers of money, as well as payment of bills.
However, they implied that with this “Internet of Things”, internet criminals and fraudsters
are on the rise whereby they are focused on stealing the critical information related to the banking
customers which is a vice that is hunting down the online banking sector. They went ahead to take
the liberty of determining the various ways that the cybercrime I banking is being conducted as
well as the steps that have been taken by the banks to settle these cases for all. Among the various
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ways through which customer’s information is drained is through phishing or the use of a false
website, impersonation in authentication influence through the use of Trojans, as well as through
the use of malware which provides vulnerabilities in the systems for the customers (Virgillito,
2020).
All the above projects have succeeded in proving that there are issues related to internet
fraud and cybercrimes, particularly in the banking sector. These researchers went ahead to propose
a few steps that ought to be taken which would bring a hold or a decrease to these cases of online
banking frauds. In this case, the issue of communication enhancement and transparency needs to
be promoted. The banks need to start talking about this issue of fraud and insecurity affecting them
even to their customers. However, this is an issue that the institutions have been avoiding due to
the fear of what would transpire if their customers came to know f they are set for them. There
should also be the introduction of a security strategy that is layered for the analysis f the solutions
viable for the cases and for there to be a proactive security system.
Research problem:
The underlying and identified problem for this research study is that being an
undergraduate student in the field of information technology with the rising tendency of
cybercrimes especially on the online banking sector, I found the need to determine the security of
data over the internet as a key factor to the development of online banking. In this case, the main
problem that I identified is that there are loose ends on the internet systems that are used in support
of online banking which has been the contributory factor to the increased fraudulent cases of
financial institutions theft. A good example is the system hack that faced Globex bank which is a
subsidiary bank of VRB in Russia. It is believed that the gang that was involved in the hacking is
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the Cobalt Hacker Gang whose main specialty is banking cyber attacks. The gang tries to get away
with 55 million rubles which are an approximate of $940, 000 from the Globex bank.
In the conduct of this research study, my population will be the customers, employees and
some management personnel of Eagle Bank at Mason Ohio in the United States. I am considering
approaching this bank since it is one of the key banking sectors which have vast experience in
online banking and therefore, I feel that the implications and the findings that will be reached
would apply to all other banks within the united states most especially the commercial banks which
have a great attachment to the general class of most affected customers. The customers will be
randomly selected by the banking management on by behalf whereby I will issue the enveloped
questionnaires for them.
In trying to solve the problem I just stated, the research will try to study and answer some
questions such as; what is the level of system security that have been enhanced on the online
banking platforms for the promotion of security measures? What actions are being taken by the
relevant authorities with the sector in rearing for any cybercrime event? In what ways can the
commercial banks possibly enhance the skills of their employees as well as customers to be able
to notice and control any incidence of cyber insecurity? What are the specific actions that the
federal bank takes against online banking to help limit the possibility of such attacks on
commercial banks?
Therefore, in this research, the gap that I am trying to bridge is to just determine what is
being done by the commercial banks to ensure that their online banking by their customers works
to the best interests of their clients without there being issues about cyber-insecurity.
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Study objectives:
The primary objective of this study was to determine the Security of Internet Data as a
Key Factor in Online Mobile Banking Development in the banking sector and to the banking
customers themselves.
The secondary objectives of this study were;
➢ To determine the effects that the banking cyber-attacks have on the banks themselves.
➢ To determine the influence of customer’s trust and loyalty out of banking cybercrime.
➢ To determine the measure that can be taken to control the cybercrime instances on banks.
Based on the results, I will seek to provide my recommendations and conclusions based
on the information that I will have at disposal from the population to help in impacting o the control
of the case in question. This will impact the banking sector mainly in the determination of the
various ways they can control any incidences of cybercrime from occurring and to the customers,
it will help I educating them more on how they can protect their data and banking details.
Study design and setting:
The current status of this case is that the banking sector has done much in the promotion
and development of its way of delivering services to its customers through the enhancement of the
online system of banking. The progress was alright until there came some unethical individuals
who are intellectuals in matters related to information technology and started screening personal
accounts and bank’s systems. This was due to the fast track evolvement in cybersecurity whereby
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hackers have found new ways of getting the information that they need from Thebans through
some loopholes. Some of these gaps may involve phishing on client’s emails while there is also
the issue of weak passwords by the customers. This is a situation that banks are finding out hard
to control as it increases rapidly.
Therefore, this research seeks to assess the position of banks in this case as they are the
key population o the study. In this case, suggestions will be gathered as well as possible ways for
progress which will help curb the menace. This, the customers, staff, and management of Eagle
Bank at Mason, Ohio in the United States will be the target study population. The research design
and setting will use descriptive research design in the collection and analysis of data. A descriptive
survey is usually concerned with describing a population to important variables with the major
emphasis being establishing a relationship among and between the studied variables (independent
and dependent variables). As well, the reference period for this research will be retrospective with
a non-experimental nature of the investigation.
In trying to reflect on the case, in reality, I am considering using a sample size “n” of 94
respondents since the scope of my research is big. Therefore, the tool for data collection is a
questionnaire that will be issued to all the respondents whereby their exclusive responses will help
in generalization. Additionally, random responses will also be collected to help in making the
conclusions.
Data collection tool:
This research study will make use of both the primary and secondary sources of data. The
primary data will be collected through the use of structured questions in a questionnaire that I have
developed based on the banking sector and its stakeholders. The questionnaire consists of both
PROPOSAL TO UNCOVER CYBERINSEURITY IN ONLINE BANKING
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open and closed-ended type of questions. Therefore in measuring the level of responses provided,
a 5- point Lickert scale will be used which ranges from 5 for strongly disagrees to 1 for strongly
agree (“Lickert Scale Definition and Examples – Statistics How To”, 2020). Questionnaires will
be administered through a method of drop and pick from my respondents while some will be
emailed to the respondents since it involves a large group.
The questionnaire is designed to collect the demographic information of the respondents
such as age, gender, level of education, position help, and the number of years they have been
associated with the banks. Based on the customer review and assessment, I will seek to determine
on a rating of 1 to 5 Lickert scale whether they feel that their account’s data are secure through the
passwords they have set by stating a “Yes or No”. This is to determine the current situation of the
respondents. On a rating of 1 to 5 do you think the banking employees disclose off your
information to outsiders? Have you ever experienced any form of cyber insecurity with your
accounts? If Yes or No, indicate on a rating of 1 to 5 Lickert scale the likeliness.
Based on the staff and managerial review and assessment, I will seek to determine whether
they are of the support that banks should conduct regular internet audits? If Yes or No, indicate
the rating from 1 to 5 in the Lickert scale, your agreement. Do you think the staff is well trained
in cybersecurity matters? If Yes or No, indicate your agreement within a scale of 1 to 5. Are the
internal hard drives within your banks well secured from intrusion? If Yes or No, what is your
level of agreement between the ratings of 1 to 5 in the Lickert scale? In the collection of all this
information, comments and description that will be provided by the respondents will be highly
considered for the making of inferences on the analysis of the results.
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The independent variable bent on this research is the issue of internet banking whereby I
will collect data related to the issue of cyber insecurity o the banking system. The study will assess
the extent of the crime rate on the sites to the banks themselves and their customers or employees.
This will help determine the extent of the dependent variable which is effective in the development
of online banking mainly on commercial banks.
Attached to appendix 2 is the data collection survey and questionnaire with the Lickert scales
indicates in each analysis question.
Data analysis and usage:
The collected data will be put together in various cases based on the median and the
mean whereby any standard deviation will be reported from the hypothesis. My way of data
analysis will be based on the percentage of respondents either the customers, employees or the
management who are agreeing to the current state of security in online banking and if there are
viable measures to curb the cybercrime events. The analysis of the data will be done using
Microsoft Excel based on the mean, median, and mode that will also help in classifying and
defining the general variables such as age, gender, education among others.
Quantitative as well as qualitative data analysis methods will be used which will help in
understanding and interpreting the social interactions in the research study which will be given in
the form of comments. Qualitative methods of data analysis will be used to give the statistics and
numeric measures in establishing the scores of responses provided. The data will be presented in
the form of charts, tables, and graphs.
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The hypothesis to be tested is the extent of insecurity and cybercrimes within online
banking and the second hypothesis assumes the effect that the increased cybercrimes have on the
development of the banks and especially in the online scope. This is because; the resulting factor
to the development of the banking sector is the issue of security which acts as a major pull down
to the development structure.
Additionally, there will be the analysis through correlation which will seek to determine
the existing relationship between the two variables that are being studied in this research. This will
help in determining the relationship that internet insecurity has on the development of the online
banking sectors.
Results and outcomes:
This research survey through the questionnaire might imply that most of the customers in
the online banking sector are not comfortable with the current state of insecurity within banks.
They would be having the feeling that more needs to be done regarding the enhancement of
security and closing the loopholes such as on weak account’s passwords and email phishing that
cyber attackers use to leak information within the bank and ending up defrauding the institutions
or individuals themselves.
However, the results might also indicate that all is in order especially from the side of the
banks since they have the fear that they might be impacted negatively f they inform their customers
of the increased rate of cybercrimes within their systems. If the customers get to know of the
happenings, there are likely to withdraw their accounts from the banks and shift to those that may
have installed systems that are more secure. There would be a situation where the customers would
start withdrawing their deposits from the banking institutions which would implicate serious
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problems for the banks as there would be effects on their level of liquidity. Similarly, the level of
confidence that the customers could be having over their banks could get reduced (Dariusz, 2018).
Participant’s protection:
This will be my message to all the participants who will take part in this research project.
I thank you all for taking the time to participate in this particular survey in this critical status
of online banking. This survey is in line with an action research project for BAS 490 of my course
in information technology. I will be able to identify the gaps in terms of security within the online
banking that has for a long time been a challenge to you as a customer, e…
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