Security Risk Assessment and Prevention Methods of E-Banking, (A Case Study of Senegal)

Abstract

The new information technologies have become an important factor in the financial services sector and with the advent of electronic technologies, electronic banking has become an important element in almost every business. The banking sector is one of the most significant developments in this area. The e-banking has become popular because of its convenience and flexibility, and also transaction related benefits like speed, efficiency, accessibility, etc. In recent years many Senegalese banks have started to offer internet banking services to their customers. Electronic banking systems provide them with easy access to banking services. However, the electronic banking systems have associated information security threats and risks. Electronic banking, security threats and risks that impact both the banks and the banking customers. The purpose of our research is to study the potential risks of e-banking in Senegal, evaluate the risks, and then put forward prevention plans. Based on detailed literature review, a research model was developed. A qualitative research approach was used to get better understanding of these issues. The empirical data were collected from the residents of Senegal by using questionnaires. Data analyses were done in accordance with the research questions and research model. Finally, the results from respondent data and conclusion were drawn by answering the research questions. Keywords: Electronic Banking, Security, Risks, Senegal, safety. DOI: 10.7176/JIEA/12-1-01 Publication date: March 31 st 2022