Explanatory research shows data breach risk negatively influences financial stability of SACCOs, implying urgent need for better risk management practices.
Key Points
Data breach risk negatively affects financial stability, leading to decreased resilience in SACCOs.
Regression analysis showed a weak negative relationship (R = -0.113) between data breach risk and financial stability.
Cross-sectional study collected data from 256 respondents in various management roles within SACCOs in Kenya.
Recommendations include enhancing software updates and backup security to improve financial resilience against risks.