FACTORS AFFECTING EFFECTIVE ERADICATION OF CYBERCRIME IN FINANCIAL INSTITUTIONS IN KENYA

Hannington Chumba

Jomo Kenyatta University of Science and Technology

Patrick Ngugi

Jomo Kenyatta University of Science and Technology

Godfrey Makua

Jomo Kenyatta University of Science and Technology

CITATION: Chumba, H., Ngugi, P., Makua, G. (2021). Factors Affecting Effective Eradication of Cybercrime in Financial Institutions in Kenya. International Journal of Arts and Entrepreneurship. Vol. 10 (10) pp 1 – 13.

ABSTRACT

The rate at which the human being is evolving from manual operations is relatively high due to various technological adaptation and innovations within communication and technology industry, ICT in financial institutions for example has greatly influenced organizations to expound on its services. In this day and era people can now access simple services such as withdrawal and cash deposit, payment and payment of bills of other daily services from their computers, phones and other electronic devices which are being formed on a daily basis. However, such developments and growth have been met with an emerging global threat ‘cybercrime’ whose effects are devastating. The study will focus on factors affecting effective eradication of cybercrime in financial institutions in Kenya. Specifically, the study seeks to; determine the effect of ICT on effective eradication of cybercrime in financial institutions, to assess the effect of ICT infrastructure on effective eradication of cybercrime in financial institutions, to evaluate the effect of internal ICT policies on effective eradication of cybercrime in financial institutions and to analyze the effect of technical skills availability on effective eradication of cybercrime in financial institutions in Kenya. Routine Activity Theory, Rational Choice Theory, Space Transition Theory and Opportunity Cost Theory will guide the theoretical orientations of the study. This study will employ a descriptive research design. The target population of the study shall be 44 financial institutions based in Kenya. The study shall target the various departments. The study shall use questionnaires and key informant interview guides to collect data. Being that the instrument of data collection in this study shall be structured questionnaire, analyzing of data shall bear both qualitative and quantitative analysis. The study will make recommendations on how financial institutions can handle the issue of merging cybercrimes.

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