Developing a cybercrime framework for a developing country: a case of Eswatini

Abstract

The Internet has become a routine activity in everyday life for people, industries and organisations, and it comes with a number of benefits which include abundant access to the Internet. These benefits have opened up opportunities for cybercriminals to exploit the Internet platform for criminal activities especially in the banking sector. Cybercrime involves criminal acts that usually involve electronic devices such as computers and networks. In the banking sector cybercrime increase is a result of many factors such as growth in Internet usage base, poor security awareness, lack of law enforcement training and limited cyberspace regulation. Due to high volume of cybercrime incidents such as phishing, viruses, hacking, there is a need to further explore and analyse the cybercrime scenario in the banking sector. The failure to control banking activities mostly occurring online provides opportunities for cybercriminals to take chances and conduct conventional crimes in a new way using the Internet as a tool. The main problem is the low technological literacy of users and the exposure of technical security system loops which are factors that contribute towards the rise of cybercrime. Therefore, this study sought to explore and analyse the cybercrime phenomenon and leading to provide measures that Eswatini banks can adopt to minimise their risk and exposure to cybercrime. The routine activity theory, space transition theory and deterrence theory were used as theoretical lenses to formulate a conceptual framework that will aid towards a holistic understanding of cybercrime in the banking sector in Eswatini banks. Primary data was collected through interviews and questionnaires from participants that are mandated to address cybercrime issues and tasks within the organisation departments. This study is informed by the limited research in the field of cybercrime particularly in Eswatini banks and will attempt to bridge the existing cybercrime gap knowledge by analysing the cybercrime phenomenon from the perspective of Eswatini banks. In order to achieve this, the study adopted an interpretivism approach using a case study in Eswatini Banks. The interpretation of findings suggests that to achieve a robust cybercrime response culture, financial institutions in Eswatini must ensure that cybercrime awareness interventions must be well established and aligned properly with the monitoring and reporting mechanisms. Management needs to strengthen their involvement in addressing cybercrime issues in the organisations. The original contribution of this thesis is developing a cybercrime framework that will help financial institutions to address and mitigate cybercrime threats and attacks.