Financial Fraud through Social Engineering: Awareness

Financial transactions became faster and more convenient now a day due to usage of digital banking and online payment services. But the usage of digital banking increased the risk of financial fraud through social engineering. Fraudsters take the advantage of emotions of people such as fear, urgency, and trust to get the personal or confidential information. The researcher has studied the level of awareness amongst digital banking users in Pune city regarding financial fraud through social engineering. The researcher has analysed that is there any relation between age, education, frequency digital banking usage and financial fraud awareness. For the study primary data collected through the questionnaire using snowball sampling technique. The total 31 digital banking users responded to the questionnaire from different age group. For hypothesis testing ANOVA test was applied by researcher with 5% level of significance. The study concludes that there is high awareness of financial fraud through social engineering amongst selected digital banking users.