Data and Information Security Issues and Challenges for Banking Sectors in Fiji

Lal, Goel and Singh, Manpreet and Bir, Jashvir (2024) Data and Information Security Issues and Challenges for Banking Sectors in Fiji. [Conference Proceedings]

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Abstract

The Internet has played a key role in changing how we interact with other people and how we do business today. As a result of the Internet, electronic commerce has emerged, allowing businesses to more effectively interact with their customers and other corporations inside and outside their industries. The internet can be seen as a truly global phenomenon that has made time and distance irrelevant to many transactions. One industry that is using this new communication channel to reach its customers is the banking industry. The transformation from traditional banking to e-banking has been a leap change. The electronic banking system addresses several emerging trends such as ‘customers’ demand for anytime, anywhere service, product time-to-market imperatives and increasingly complex back-office integration challenges. However, the increase in the use of ICT facilities results in the increase of criminal activities like spamming, credit card frauds, ATM frauds, phishing, identity theft, denial of service and other security bridges have lent credence to the view that ICT is contributing to crime in the banking sector. The challenges that oppose electronic banking are the concerns of security and privacy of information. This study discusses security issues associated with internet connectivity, focusing on three main areas: confidentiality, integrity, and availability of information. Vulnerabilities that companies are exposed to, such as a virus, malware, phishing, Trojan horse, exposes a' company's information assets to attacks. It also discusses preventive measures that organizations should implement in order to protect a company from such threats. Finally, recommendations are made for the decision-makers to consider when making decisions regarding data and information security on financial organizations.

Item Type:	Conference Proceedings
Subjects:	Q Science > Q Science (General) > Q300-390 Cybernetics Q Science > Q Science (General) > Q350-390 Information theory
Divisions:	Faculty of Science, Technology and Environment (FSTE) > School of Computing, Information and Mathematical Sciences
Depositing User:	Goel Lal
Date Deposited:	07 Aug 2025 00:40
Last Modified:	17 Aug 2025 23:10
URI:	https://repository.usp.ac.fj/id/eprint/15073

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