A Framework Of Cybersecurity Risks On Mobile Money Users In Tanzania: A Case Study Of Dodoma City

ABSTRACT

Cyber threats are becoming more sophisticated with the blending of one distinct type of attack on more damaging forms. Increased variety and volume of attacks are inevitable given the desire of financially and criminally-motivated actors to obtain personal and confidential information. Following this alarming situation, this dissertation informs about a framework for cyber security risks for mobile money which was designed through the study that was conducted in Dodoma City to propose the best security practices to mobile money users.

One of the reasons that make phones to become so smart is that people live in a fast-paced world where time is such a valuable asset. It is now the high time where transactions are easily made to pay for bills, make shopping and money transferring, and check the bank account through a cell phone. The money can be just as mobile as the user. However, this major convenience has its setbacks. For instance, it poses high risks to mobile security and mobile money security.

Using a cross-sectional research design, this study collected information from 648 respondents through a structured questionnaire to identify risks associated with the use of mobile phones during mobile money transactions and best security practices to mobile money users.

The analysis of the information obtained revealed that the hackers, loss of mobile phones, virus and worm, theft and fraud, loss of password, poor network, send cash or float to wrong number, denial of service, copying of data (data leakage), alteration of data and lack of liquidity, or float are the risks associated with users of mobile money transaction. Furthermore, the results show that there is inadequate awareness of users and there is little effort made by the mobile money operators in reducing risks to both mobile money users and mobile money agents.

Therefore, the study informs about the cyber security framework for the mobile money users and mobile application prototype which helps in auditing mobile money transactions to enforce mobile money security. The application prototype acts as a backup of mobile money transaction messages.