Understanding Cyber Threats Vulnerability of Future Victimization in Fintech

Abstract

Individuals’ participation in online activities is expanding, and the number of businesses moving to online operations is increasing, raising the possibility that they will become victims of cybercrime. Vulnerability in a technological system refers to any flaw or weak point within a technology or network that could be used to inflict damage or give an attacker unauthorized control. On the other hand, victimization results from intentional actions by an individual or organization to exploit, harm, or unlawfully gain access to another’s assets or possessions. This research seeks to evaluate the future vulnerability of private sector employees to cybercrime when using FinTech. This study was conducted using an approach drawing from victimization theory. The study focuses on three primary factors influencing vulnerability: the economic shutdown, income inequality, and reliance on technology. The primary method for gathering data in this study was through questionnaire surveys, specifically distributed among service sector employees in Malaysia. Findings from this study show that economic shutdown (ES) due to COVID-19 and income inequality (II) have a significant positive relation with the vulnerability of future victimization in FinTech. However, reliance on technology does not significantly influence the vulnerability of future victimization in FinTech. This research contributes to the expanding body of knowledge regarding risk factors associated with future victimization in FinTech. The findings benefit companies and individuals, offering insights into areas that should be fortified to decrease vulnerability.