Assessment of Information Security Awareness among Online Banking Costumers in Nigeria

Abstract

Internet banking system has classically supplanted traditional banking system in both developed and developing nations due to rapidly growing Information Technology (IT) in today world. Internet banking which is also refer to as online banking has not only increase the productivity of banks but also give room for easy transactions by the customers. Since the introduction of internet banking into the country (Nigeria), the banking sector has experienced a tremedious change in its mode of operations. Meanwhile, Internet banking system has some challenges including information security. Information security challenge mostly affects online banking customers who supply their details during online transaction. For costumer not to be a victim of this information security challenge, there must be proper information security awareness. This information security awareness will serve as guide for online banking customers. Many costumers enter into banking hall to apply for internet banking and start using such immediately on the approval of their banks. The question is, do the customers aware of information security implication of the online banking? If yes, what is the level of their awareness? To address these questions, we carried out a survey that uses questionnaires to assess the level of awareness of online banking costumers on information security. The analysis of our survey revealed that online banking customers are not fully aware of the threats and risks associated with online banking which means that the level of information security awareness is low. This suggests that the existing methods of creating information security awareness are weak. We therefore proposed methods for the improvement of information security awareness program