Analysis of cyber-crime effects on the banking sector using the balanced score card: a survey of literature
ISSN: 1359-0790
Article publication date: 18 June 2020
Issue publication date: 25 October 2020
Abstract
Purpose
The purpose of this paper is to review the effect of cybercrime in the banking sector.
Design/methodology/approach
This study uses a survey of literature and the balanced scorecard (BSC) to analyse the effect of cybercrime on the banking sector.
Findings
The literature reviewed confirms an increasing wave of cybercrime that has impacted negatively on the good will and economic growth of financial institutions, indirectly through loss of trust in the digital infrastructure or directly through fraud and extortion in both developing and developed countries.
Research limitations
This study is limited to the application of BSC to analyse the effect of cybercrime in the banking sector only.
Practical implications
To avert on going massive losses owing to cybercrime, the authors quest for development of an alert system that can create the awareness of both the banks and the customers by effectively implementing and integrating big data technology into their system to mitigate the negative impacts of cybercrime.
Originality/value
The novelty of this study lies in the fact that this study uses the BSC for the analysis of cybercrime in the banking sector, a problem that has not been sufficiently highlighted in the existing literature.
Keywords
Citation
Akinbowale, O.E., Klingelhöfer, H.E. and Zerihun, M.F. (2020), "Analysis of cyber-crime effects on the banking sector using the balanced score card: a survey of literature", Journal of Financial Crime, Vol. 27 No. 3, pp. 945-958. https://doi.org/10.1108/JFC-03-2020-0037
Publisher
:Emerald Publishing Limited
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