Net Banking Fraud and Scams in Australia-Free-Samples for Students

Question: Discuss about the Net bankig Fraud and Scams in Australia. Answer: Problem Statement Net banking fraud is a fraud or robbery which is done with the help of technological advancement for stealing money illegally from anyones account. The most important technologies that are used for this purpose are Trojans, Viruses and Spyware. Net banking frauds are mainly of four types namely Mobile Banking, Shimming, Phishing and Mule Recruitment(HHSB, 2018). According to the figures derives from Australian Payment Clearing Association, Australians suffered from the loss of $521 million in financial year 2016dus to net banking frauds. Increasing online frauds represents the advancement in e-commerce and a universal trend in virtual scam and cybercrime in broad(Ong, 2016). In present scenario, security and safety of net banking communications is one of the most essential tasks. A number of financial data activities and transactions are conducted every day by using net banking facilities. Similarly banking frauds increase day by day by hacking experts through influencing online banking systems of the banks. This study will consist the issues related with fraud, attacks and security of net banking. It will also include the importance and motives of defending for safety, the general kinds of attacks that can be encountered, detected and prevented(Shanab Matalqa, 2015). Aims and Objectives This study aims at finding out the loopholes that assist in increasing of net banking frauds and suggesting best possible ways to prevent them. The study will also focus on the effectiveness of refund arrangement system. The objectives to support the aims of the study are: To study the percentage of banking frauds in Australia along with finding out the major types of net banking frauds. To analyses the effect of online banking frauds on the economy as well as socially. To recommend best possible way to minimise the rate of frauds and creating awareness in the society to be careful from online frauds. To recommend the enhancement of online banking trust and improving security against online frauds. Research Methodology Literature Synopsis Data Source- The list of banks and their official websites will be used for gathering accurate information. The appropriate data for the research and analysis will be copied from websites of major banks. Along with this some studies conducted earlier by institutions and individuals will be reviewed to gain the depth knowledge of the problem(Booth, Sutton, Papaioannou, 2016). Data Series and Surveys For ascertaining the impact of net banking frauds, data will be collected on the basis of online and offline surveys. Survey will majorly target those areas of societies which are either victims of the fraudulent activities or they are unknown about the online frauds. Since it is a crucial part in the research to know the social view about the target problem. Beside this to know the economic impact of net banking frauds, a survey of government organisations will also be arranged on the basis of questionnaire approach(Sabi, 2014). Quantitative Approach- By using quantitative approach, collected data will be analysed and compared through using charts and graphs. By using charts, understanding the information will be easy to the user of this study Qualitative Approach- A set of questions based on activities and impact of online frauds will be distributed among the target people. Discussion will be also held with the people of banking sector. For more knowledge and information about the problem a separate discussion will be done with the authorities working towards the prevention of online and net banking frauds(Silverman, 2016) References Booth, A., Sutton, A., Papaioannou, D. (2016). Systematic Approaches to a Successful Literature Review (2nd ed.). Sage Publications Ltd. Retrieved April 3, 2018 HHSB. (2018). Types of Online Frauds. Retrieved April 4, 2018, from HHSB Hoosier Heartland State Bank: https://www.myhhsb.com/types-online-fraud.htm Ong, T. (2016, December 16). Australians lost $521m to card fraud in 2016 financial year. Retrieved April 4, 2018, from News: https://www.abc.net.au/news/2016-12-16/australians-lost-521m-to-fraud-in-past-financial-year/8126816 Sabi, H. M. (2014, August). Research Trends in the Diffusion of Internet Banking in Developing Countries. Journal of Internet Banking and Commerce, 19(2), 1-31. Retrieved April 4, 2018 Shanab, E. A., Matalqa, S. (2015). Security and Fraud Issues of E-banking. International Journal of Computer Networks and Applications (IJCNA), 2(4), 179-187. Retrieved April 3, 2018 Silverman, D. (2016). Qualitative Research (4th ed.). Sage Publications l. Retrieved April 3, 20