Assessing Customer’s Awareness of Cybersecurity Measures in Online Banking: A Study on Digital Trust and Risk Perception

Abstract

Cybersecurity has arisen as a serious worry in the quickly changing digital banking environment, especially as banks deploy innovative technology to streamline operations and improve customer experience. This study investigates consumer awareness of online banking security requirements and how digital trust and perceived risk affect customer behaviour. As cyber threats such as phishing, spyware, ransomware, and data breaches become increasingly sophisticated, banks must protect sensitive information while still fostering customer trust. This study collects users' awareness of common cybersecurity practices, including password hygiene, the use of two-factor authentication, and knowledge of banking rules such as the RBI's digital security guidelines, using a structured questionnaire distributed to 151 respondents from urban, semi-urban, and rural areas. The poll demonstrates considerable differences in user awareness, given that a large majority of respondents were either unaware of or uninterested in fundamental cybersecurity safeguards such as reporting fraud or avoiding dangerous online habits such as visiting banking sites via public Wi-Fi. Although individuals had faith in their bank's cybersecurity measures, they expressed reservations about utilising mobile banking apps and doing significant online transactions. The findings highlight the critical necessity for financial institutions to actively educate clients, enact strong security legislation, and maintain open lines of communication about digital threats and preventive measures. Increasing digital skills and trust may considerably reduce exposure to hackers and boost consumer confidence in online banking. This article adds to the existing discussion about fintech risk management by addressing user concerns and providing practical tips for banks to better adapt their cybersecurity outreach programs.