BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC KINH TÉ TP. HÒ CHÍ MINH BÁO CÁO TÓNG KÉT ĐÈ TÀI NGHIÊN cứu KHOA HỌC THAM GIA XÉT GIÁI THƯỞNG “NHÀ NGHIÊN CƯU TRẺ UEH” NĂM 2024 <STUDY ABOUT CYBERSECURITY KNOWLEDGE AND PERCEPTION TOWARDS USAGE AND PROTECTION BEHAVIOR OF MOBILE BANKING APPLICATION: RESEARCH ON GEN z CUSTOMERS IN HO CHI MINH CITY> Thuộc nhóm chuyên ngành: Công nghệ thông tin TP. Hồ Chí Minh, tháng 02/2024 ABSTRACT In recent years, mobile banking has arisen as an effective way for enhancing financial inclusion and increasing cashless transactions. With just a few taps on their smartphones, customers can transfer funds, pay bills, and manage their accounts from anywhere at any time.
Although the adoption of mobile technology enabled convenience to the users, it has brought about a great security threat. Cyber-attacks against financial services and institutions are increasingly becoming more frequent and sophisticated. Hackers can easily trick bank customers using social engineering and cyberstalking to have their money. Within the digital era that internet consumption is increasing, mobile banking has made cyber awareness turn to be extremely important.
Customers have to prepare essential knowledge about cybersecurity to protect their banking account efficiently. We did build up a research framework based on Theory of Reasoned Behavior (TRA), data from secondary sources and result from quantitative research. Subjects of the survey are gen z customers living and working in Ho Chi Minh City. Quantitative research took place via individual interviews in virtual questionnaires with some questions relating to the topic.
This questionnaire has attracted 301 HCMC respondents through Google Form. SPSS and AMOS are two assistance softwares which were used during our process of synthesis and data analysis to test the confidence interval, the validity and the importance of the variables. Most of the variables in our research have been proved as interdependence to one another. The research results emphasize the influence of cybersecurity knowledge and perception on usage and protection behavior of mobile banking application.
From there, solutions and recommendations are suggested to improve knowledge and right perception to use and protect their accounts and apps efficiently. Keywords: cybersecurity knowledge, cybersecurity perception, usage behavior, protection behavior, mobile banking application. TABLE OF CONTENTS CHAPTER 1: OVERVIEW. Necessity of the research.
Research Subject and Scope of the research. Scope of the research. 5 CHAPTER 2: THEORETICAL FRAMEWORK AND RESEARCH MODEL. Enhancing Cybersecurity Awareness among University Students: A Study on the Relationship between Knowledge, Attitude, Behavior, and Training - Anwar Fattah, Wagimin & Nurlia (2023).
Risks and challenges for cybersecurity in the banking sector in Vietnam - Nguyen Van Phuong and Tran Van Dien (2021). Conceptual framework and research hypotheses. Relationship between Cybersecurity Knowledge and Cybersecurity Perception. Relationship between Cybersecurity Knowledge and Usage Behavior.
Relationship between Cybersecurity Knowledge and Protection Behavior 17 2. Relationship between Cybersecurity Perception and Usage Behavior. Relationship between Cybersecurity Perception and Protection Behavior 20 2. Relationship between Usage Behavior and Protection Behavior.20 CHAPTER 3: RESEARCH METHODOLOGY.
Research Process Design. Datil analysis methods. Data analysis techniques. Test the reliability of the scale using the Cronbach’s Alpha coefficient.
Exploratory Factor Analysis (EFA). Confirmatory Factor A nalysis (CFA). Linear regression analysis. Test the model and research hypotheses.
Independent Sample T-Test.32 CHAPTER 4: QUANTITATIVE RESEARCH RESULT. Survey sampling statistics. Characteristics of the Sample. Reliability and Validity (Cronbach’s Alpha).
Exploratory Factor Analysis (EFA). Confirmatory Factor Analysis (CFA). Research model and hypotheses test. Structural Equation Modeling (SEM).
Research hypotheses test. 43 CHAPTER 5: CONCLUSION AND IMPLICATIONS. Limitations and Further Research. Banks in Vietnam.58 APPENDIX 1: QUANTITATIVE QUESTIONNAIRE.58 APPENDIX 2: DESCRIPTIVE STATISTICS RESULT.
CRONBACH’S ALPHA ANALYSIS RESULT. EFA ANALYSIS RESULT. CFA ANALYSIS RESULT.66 APPENDIX 6: SEM ANALYSIS RESULT.69 APPENDIX 7: BOOTSTRAP ANALYSIS RESULT. 70 LIST OF TABLES Table 4.1: Descriptive statistics results.2: Cronbach’s Alpha Analysis Result.3: KMO and Bartlett's Test.4: EFA Analysis of Variable Result.6: Average extracted variance (AVE).7: Bootstrap Analysis Result.1: Descriptive Statistics Result of CK.2: Descriptive Statistics Result of CP.3: Descriptive Statistics Result of UB.4: Descriptive Statistics Result of PB.
49 LIST OF FIGURES Figure 2.1: Theory of reasoned action (TRA).2: Research Model by Anwar Fattah, Wagimin& Nurlia (2023).3: Research Model by Pongsakorn Limna et al.4: Proposed Research Model .1: CFA Analysis Model.2: SEM Analysis Model. 41 LIST OF ABBREVIATIONS AMOS Analysis of Moment Structures AVE Average variance extracted CFA Confirmatory Factor Analysis CK Cybersecurity Knowledge CP Cybersecurity Perception EFA Exploratory Factor Analysis HCMC Ho Chi Minh City KMO Kaiser-Meyer-Olkin M-banking Mobile Banking PB Protection Behavior SPSS Statistical Package for the Social Sciences UB Usage Behavior 1 CHAPTER 1: OVERVIEW 1. Necessity of the research Information Technology has dramatically escalated in the past decade, with massive global rates of internet consumption by individuals and organizations ranging from academia and government to industrial sectors. As the potential risks of cyber space increase in modern society (Choucri, 2019), both the public and private sectors are concerned with the ability to respond to cybersecurity issues (Bossong & Wagner, 2017; Weiss & Jankauskas, 2018).
In fact, a successful cyber-attack can bring down the networks of government units, lose control of business operations and lessen public confidence in financial transactions. In the banking sector, Sacombank had its credit card counterfeited (April 2017), and DongA Bank also had a similar case in November 2018. Additionally, the individual customers use their smart phones for online sales and payment transactions. That makes ensuring the safety of customer information against cyber-attacks more important than ever.
From 2020 onwards, non-cash payments grow rapidly each quarter, and many new payment forms are born, bringing many benefits to users and the entire economy. Besides increased market competition, banks’ card business activities also face risks that arise corresponding to market trends. In addition, the development of mobile payment applications and e-wallels has helped advance convenience and choice for customers. These applications are also integrated with many different services such as buying airline tickets, booking hotel rooms, online shopping.
The number of non-cash payment transactions increased significantly compared to the same period last year, shows that the transition from cash payment to digital payment is popular with customers. Along with strong digital transformation activities, payment security in Vietnam is also focused and improved. The current payment safety situation in Vietnam has improved significantly. Financial institutions and banks have deployed many information security solutions and reduced risks for customers, including: data encryption, transaction monitoring, helping to minimize risks for customers.
2 Compared to the same period in 2022, in the first 8 months of 2023, transactions via the Internet increased by 76% in quantity and 1.79% in value; transactions via QR code channel increased by 152% in quantity and 301% in value; mobile transactions increased by 65% in quantity and 77% in value; revenue from the electronic payment market reached 20. Meanwhile, cash withdrawal transactions via ATM decreased by 4% in quantity and 6% in value. contributing to accelerate non-cash payments in the economy. Along with strong digital transformation activities, payment security in Vietnam is also focused and improved.
The cuirenl payment safety situation in Vietnam has improved significantly. Financial institutions and banks have deployed many information security solutions to minimize risks for customers, including: data encryption, two-factor authentication, transaction monitoring, fraud monitoring and prevention. that helps ensure transparency and honesty in payment transactions. They also raise customer awareness about payment security through communication, education and consulting programs.
However, the situation of crimes using high technology related to the banking sector has recently risen and become complicated. Impersonating the Police, Procuracy, Tax, Social Insurance, asking the victim to install fake applications on the phone (VssID, VNelD, eTax Mobile.), secretly controlling the phone, performing misappropriated money transfer transactions. Recruiting online sales collaborators, child models, taking orders, calling for stock investment. after the victim transfers money, the subjects appropriate it through virtual currency to transfer it abroad.
Set up a website, impersonate employees of banks and financial companies, post advertisements for quick and easy loan procedures, and request payment of fees to appropriate assets. These fraud tricks are all common with scammers. Some of the reasons that facilitate payment fraud include: identification documents are sophisticatedly falsified by criminals, making them very difficult to detect; systems and solutions to control transactions according to unusual signs that banks do not detect promptly. Above all, the main cause is that users have loopholes in protecting personal information, causing important data to easily fall into the hands of scammers, turning into fraud tools.
3 Insufficient awareness and knowledge about network security and information security when using the internet can lead to the disclosure of important personal information to criminals. Currently, users can share personal information too widely on social networks, forums or untrusted websites. This makes personal information easily collected and misused. Gen Z's lack of concern for cybersecurity poses significant issues in today’s digital world.
Despite being the first generation to grow up with the internet, many Gen-Z individuals fail to prioritize cybersecurity as a high priority concern. This casual attitude towards online safety makes them more susceptible to cybercrimes and data breaches. Their frequent use of digital platforms and devices, coupled with a lack of awareness about potential risks, creates a perfect storm for hackers to exploit. As a result, businesses face heightened cybersecurity threats when hiring and entrusting Gen-Z employees with sensitive information.
Furthermore, the collective lack of care for cybersecurity in this generation can also lead to risky online behavior, making it challenging to create a culture of strong cyber hygiene in the workplace and society at large. Addressing this issue is crucial to safeguarding personal and organizational data, as well as to fostering a safer and more secure digital environment for everyone. In Vietnam, there are not many research articles on the relationship between these factors, so we choose the topic “Cybersecurity knowledge and perception towards usage and protection behavior of mobile banking application" to clarify them. Objectives The research paper is conducted with the following three objectives: - Identify research models, testing a scale of cybersecurity knowledge, perception, usage and protection behavior of mobile banking application.
- Test and measure the correlation between cybersecurity knowledge, perception and usage, protection behavior of mobile banking application. - Proposing some recommendations for financial institutions and banks to help gen z customers in HCMC to have a right usage and protection behavior of mobile banking application by focusing on cybersecurity knowledge and perception of them. Research Subject and Scope of the research I. Research Subject Research Subject: Influence of cybersecurity knowledge, perception to usage, protection behavior of mobile banking application.
Respondents: Gen z customers living and working in Ho Chi Minh City. Scope of the research Regarding the geographical range: This study focuses on gen z customers living and working in Ho Chi Minh City and the largest nationwide financial institutions. Execution time: This study is conducted from November 2023 to February 2024. Research Methodology This scientific research is conducted by quantitative methods: Collect, analyze survey data and test the model.
Data was taken from survey questionnaires that subjects answered directly using the Google form tool via email. The research sampling method is random. The study used data processing tools such as: testing scale reliability (Cronbach’s Alpha), exploratory factor analysis (EFA) through SPSS 20.0 software, confirmatory factor analysis (CFA) and analyze the structure equation model (SEM) through AMOS 20. Research Structure Research structure includes: Chapter 1: Overview: Necessity of the research, Research objective, Research subject and scope, Research methodology, and Research layout, and Research structure.
Chapter 2: Theoretical framework and research model: Literature Review; Concepts; Theory; Related research; Conceptual framework and hypotheses development. Chapter 3: Research Methodology: Research Process, Sampling Method and Quantitative Research. 5 Chapter 4: Quantitative Research Result: Sample description, Data Analysis from the questions: Reliability and Validity (Cronbach’s Alpha), EFA Analysis, CFA Analysis, SEM Analysis, Structural model evaluation; Results after analyzing data and model; Data analysis result. Chapter 5: Conclusion and Implications: Conclusion; Research Significance; Implications and proposals to financial organizations; Research limitations and direction in the next research.