Risk of hacking in e-banking: a study of nationalized banks

In the present study, an attempt is made to study the various aspects of risk of hacking in e-banking in the selected nationalized banks i.e. ANDRA, DENA, OBC, PNB and SYNDI. A sample of 200 banks’ officials (40 from each bank) is taken from the selected banks on the basis of judgement sampling. The primary data were collected with the help of pre-tested structured questionnaire on five point Likert scale i.e. Strongly Agree (SA), Agree (A), Neutral (N), Disagree (D) and Strongly Disagree (SD). For coding and analyzing the data, weights are assigned in order of importance i.e. 1 to Strongly Disagree (SD), 2 to Disagree (D), 3 to Neutral (N), 4 to Agree (A) and 5 to Strongly Agree (SA). The collected data were analyzed through various descriptive and inferential statistical techniques like percentage, mean and standard deviation, etc. Further, ANOVA technique was used to test the hypotheses and validate the results. It is found that easy entry of hackers into the system is ranked as the most significant factor in the selected banks. Further, infringing customers’ privacy and its legal implications, disability of significant portion of bank's internal computer system and loss of data of accountholders are found the most significant impacts on the functioning of the selected banks. However, regular review of market place developments and penetration testing for vulnerabilities are ranked as the most significant measures used in the selected banks. Further, the analysis of development of communication security measures shows that firewalls, password management, authorization and personal identification number are the most adopted measures used for overcoming the risk of hacking. It is recommended that University administration should consider the issues involved in ethical hacking while designing the information assurance curriculum. More research should be done on how to integrate the concept of ethics in curriculum.