Cyber Criminality and Electronic Banking in Cameroon: What Prospects?

Abstract

The dramatic proliferation of electronic commerce within the banking sector has throughout the years enhanced a tremendous move towards the financial inclusion of the under banked and the unbanked. This great wind of change that has transformed the traditional cash base society into a cashless one coupled with its advantages such as its speed and swiftness comes with serious threats, challenges and risk amongst which is cyber criminality that has greatly marred the bright future of the most applauded transformation within the financial sector and the world at large. Within the Cameroonian society a lot has been done to assure a bright future to this new technology but given the borderless nature of e-commerce which e-banking happens to be one of its tenets, strictly relying on national mechanisms will not suffice an appropriate panacea to the challenges to e-banking, thus the need for conventional mechanisms and other international efforts to salvage e-banking from the dark clouds being enhanced by criminals through the guise of cyber criminality. This paper aims at investigating the effects of cyber criminality on e-banking and if the efforts this far that have been put in place actually guarantee efficient and effective protection of users and consumers of e-banking.