Relationship between E-Banking and Cybercrime in UK Banking Industry

Dissertation proposals
(Evaluate the relationship between e-
banking and cybercrime within UK banking
industry)

DECLARATION
I hereby declare that the project work entitled “Evaluate the relationship between e-
banking and cybercrime within UK banking industry” submitted for the partial fulfilment of
requirements of the aware of a degree of business studies is my own original work.
Additionally, the information being provided in the literature review section has also been
duly acknowledged in the text and the list of references is also offered. No section of this
dissertation was previously presented for another diploma or degree at this or any other
educational institution.
Name: Date: 1-09-2022

ABSTRACT
The report is being commissioned to analyse the relationship between e-banking and
cybercrime within UK banking industry. The research work was being conducted on Lloyds
Banking Group, which is the leading bank in UK. Different literatures were being explored
regarding this topic. Additionally, both primary along with the secondary data was being
accumulated in the study. Primary data was collected from the 20 employees of the bank.
Further, quantitative analysis was being performed through seeking help from SPSS software
to have more reliable and valid outcomes of the study. The findings and analysis of the study
reveals that there is a strong association amid e-banking and cybercrimes in the UK banking
industry. With the increase in the e-banking there has been augmentation in the rate of
cybercrimes. Thus, recommendations for combating and preventing cyber-attacks were being
offered in the final section of the report.

ACKNOWLEDGEMENT
I will like to acknowledge the University to provide me this opportunity to the
research study under the title “Evaluate the relationship between e-banking and cybercrime
within UK banking industry”. I would like to thanks my college, teachers, family and friends
for supporting me during the research and offering me right direction throughout this process.

CONTENTS
CHAPTER – 1: INTRODUCTION...........................................................................................1
1.1 Background of the study..............................................................................................1
1.2 Research aim...............................................................................................................1
1.3 Research objectives.....................................................................................................1
1.4 Research question........................................................................................................2
1.5 Rationale of the study..................................................................................................2
1.6 Significance of the study.............................................................................................2
CHAPTER – 2: LITERATURE REVIEW................................................................................4
2.1 Overview of the chapter..............................................................................................4
2.2 Concept of the e-banking and cybercrime...................................................................4
2.3 Role of e-banking in cybercrime.................................................................................6
2.4 Benefits of overcoming cybercrimes through e-banking..........................................10
CHAPTER – 3: ANALYSIS....................................................................................................12
3.1 Overview of the chapter............................................................................................12
3.2 Research approach.....................................................................................................12
3.3 Research philosophies...............................................................................................12
3.4 Research strategy.......................................................................................................12
3.5 Research design.........................................................................................................13
3.6 Data collection methods............................................................................................13
3.7 Data analysis methods...............................................................................................13
3.8 Sampling....................................................................................................................13
3.9 Ethical considerations................................................................................................14
CHAPTER – 4: DATA, METHODOLOGY AND RESULTS...............................................15
4.1 Overview of the chapter............................................................................................15
4.2 Presentation of the results..........................................................................................15
4.3 Discussion..................................................................................................................34
CHAPTER – 5: SUMMARY&CONCLUSION......................................................................36
Conclusion............................................................................................................................36
Recommendations................................................................................................................38
REFERENCES.........................................................................................................................40
APPENDIX – I.........................................................................................................................45
Questionnaire........................................................................................................................45
APPENDIX – II.......................................................................................................................47

Research title: Evaluate the relationship between e-banking and cybercrime within UK
banking industry
CHAPTER – 1: INTRODUCTION
1.1 Background of the study
There are some of the inventions and creativeness that have altered the dynamics of
banking sector as much as the electronic insurgency. Across the globe, banks are
reorganizing their business approaches for taking the benefit of novel occupational prospects
being provided by electronic banking. Talking in relation with the e-banking, it is believed to
have initiated in the year 1980s. From that time, it has been mounting up in an unprecedented
dimension in line with the growth in ICT development (Barker, 2020). E-banking has
allowed banks to overcome the boundaries, undertaking the strategic outlook and brining in
new prospects. As per Barker (2020), there has been reduction in the cost of processing due
to information communication technology. Even through there is no official definition of
electronic banking has been set up, it is usually suggested to be a service that enables the
clients to utilize some types of computers to access account particular data and conceivably
carries out routine banking transactions from any remote place, for example home or
workplace. In addition to this, it can also be said that e-banking has several rewards to the
clients in relation with accessibility where the clients can carry out their daily activities of the
business from their comfort level as well as security of any location from, they desire to
perform (Chevers, 2019). This was accompanied by trapping of telephone, violations of
privacy, encroaching as well as dissemination of illegal materials. Based on this, the present
research work aims to analyse the relationship between e-banking and cybercrime within UK
banking industry.
1.2 Research aim
The main aim of the current research report is to analyse the relationship between e-
banking and cybercrime within UK banking industry: A study on Lloyds Banking Group”
1.3 Research objectives
For fulfilling the above aim, there is a requirement of certain small objectives and
these are as follows:
 To increase basic understanding about the e-banking and cybercrime
 To determine the role of e-banking in cybercrime within Lloyds Banking Group
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 To examine the benefits that Lloyds Banking Group could be gained by overcoming
cybercrime through e-banking
1.4 Research question
Some of the research questions that the current research study will be going to answer
are as follows:
 What is concept of the e-banking and cybercrime?
 What is the role of e-banking in cybercrime within Lloyds Banking Group?
 What are the advantages that Lloyds Banking Group could be gained by overcoming
cybercrime through e-banking?
1.5 Rationale of the study
With the rising level of internet technologies such as 3G, 4G and 5G, the global
village is effectively sharing as well as communicating important information throughout the
network. Even the banking industry has also adopted digitalization for offering ease and
convenience to their customers. In the present era of globalization, electronic or online
banking has transformed the integral transactions of the modern 21st century. The
development of the e-banking technology is making the transactions of banks very simple
with just a single click. Furthermore, it has made banking very fast and convenient
(Olowokere and Olufunmilayo, 2018). Further, in the present time, because of the increasing
level of cybercrimes there has been lot of damages to individuals, companies and even the
government of a particular nation as well (Ablon, LibickiandGolay, 2015). The percentage of
the damages, challenges and risk related with the cybercrimes have augmented and pertaining
to this, the current research report is being undertaken for ascertaining the association
between e-banking and cybercrime.
1.6 Significance of the study
The current research study in relation with the relationship between e-banking and
cybercrimes within the UK banking industry is considered to be very crucial. This is due to
the fact that this research work supports in conducting valuable as well as comprehensive
data in regards with the topic of e-banking and cybercrime. Other than this, the following
study will also help in explaining different sub-sections like understanding the idea of the e-
banking and cybercrime in the banking industry, role and advantages in overcoming the
impact of the cybercrime. In addition to this, in the present digitalized world, people are more
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making use of electronic banking services due to its ease and convenience. However, this has
resulted in the rise in the cybercrimes, online frauds and money related scams Goel (2016).
Thus, this research is making an effort to understand the ways cyber-crimes are
related with e-banking. It will further be going to render a supportive hand to all those
researchers as well as practitioners who are undertaking studies in this field. Furthermore, the
present research work will also help the researcher both personally as well as professional
which leads to improvements in the skills along with knowledge and understanding of this
specific topic.
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