Annotated Bibliography On Online Banking Deception

Abstract The thesis is about online banking deception. â€Å"Online banking fraud† is about committing theft or fraud by means of the features of Internet to illegitimately confiscate cash from, or move it to, some other bank account. During the past decades, most of the problems in the field of cyber-security and more specifically online banking fraud have been investigated from technological perspective. That is, these problems were considered solely as technical problems which required technical security solutions. However, most of the problems in the field of cyber-security are more economic than technical. Based on their explanation, economics introduces breakthroughs in understanding problems of security, based on explaining the actors involved and their socio-economic incentives. Accordingly, in this research we have reviewed Economics of Information Security literature to study the possible explanatory factors that may explain why certain targets are by cybercriminals. Around m id-1990’s, banks started to offer Internet banking mainly to increase cost-effectiveness and customer reach (Jaleshgari, 1999). Electronic banking platforms act as efficient channels throughout which transactions could be carried out with little effort (Popa Vrancianu, 2010). Though, as these web-centred, platforms of â€Å"online banking† have turn out to be widespread amongst e-businesses and citizens that employ them increasingly in their day-to-day actions; â€Å"Online Banking Fraud† augmented as