Cybercrime – Factors Influencing the Adoption and Use of Electronic Financial Services in Tanzania

Abstract

This study was conducted to determine cybercrime-factors influencing the adoption and use of electronic financial transactions in Tanzania. Specifically the study aimed at determining the cybercrime-factors influencing the adoption and use of online banking services, mobile money transfer and mobile banking services. The study followed a survey strategy whereby a semi structured questionnaire was used to collect data from 200 respondents in Dar es Salaam. Data analysis was carried out using descriptive and factor analyses. Findings show that personal information-security, online frauds and service reliability in that order of importance are the factors influencing the adoption and use of online banking services, additionally, mobile fraud and
service security, personal information security and service reliability in that sequence of importance are the most important factors influencing the adoption and use of mobile money transfer while personal information security and online frauds, service reliability and mobile bank fraud and environmental crimes in that sequence of importance are important factors in the adoption and use of mobile banking services. From the findings, respondents ranked the factors differently for the various electronic payment services. The study concludes that cybercrime-factors influencing the adoption and use of electronic transactions are ranked differently based on a particular electronic service in order. Thus, the weight attached to each factor differs depending on the type of the electronic service. It is
recommended that services providers should assign appropriate weight for each factor based on the type of service offered be it, online banking services, mobile money transfer and/or mobile banking services in order to create a positive image to the customers.