An Effective Model for Fraud Risk Management in Mitigating Telecommunication Fraud Incidences

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Nazatul Shima Abdul Rani
K. Sarojani Krishnan
Khairul Azizan Suda
Chahhoub Fatimazahra

Abstract

In the context of Malaysia, the most common types of cyber attacks are denial of service, intrusion attempts, spam, vulnerability report, fraud, malicious code, and content-related attacks as reported by Cyber Security Malaysia. However, since 2011,  cyber attacks such as intrusion attempts, denial of service and spam are decreasing steadily as a result of security measures that have been taken by companies or internet users. Nevertheless,  cyber attacks which are steadily increasing are cyber harassment, intrusion and fraud. Approximately 5,328 fraud incidences were reported in 2011 while in 2020, the number of cases rose to 7,593 cases. Out of these cyber attacks in Malaysia, the most proliferating ones have been identified as fraud incidences. Thus, it is highly needed to come up with and propose the best fraud risk management strategy to handle fraud incidences among internet users and internet providers through the utilization of business intelligence tools, and quality enhancement via quality systems in place, quality information, and quality users. With these tools in hand, it is hoped that the proposed model will serve as a framework to mitigate and/or prevent the occurrence of fraud incidences.

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Author Biographies

K. Sarojani Krishnan, UniKL Business School, Universiti Kuala Lumpur

Dr K. Sarojani Krishnan is currently a Senior Lecturer at Universiti Kuala Lumpur Business School, UniKL. She has more than 20 years’ of teaching experience at the university.  Her areas of research interest include language testing and evaluation, assessment, language performance, teaching and learning, motivation and demotivation, entrepreneurship and leadership.

Khairul Azizan Suda, UniKL Malaysia Italy Design Institute, Universiti Kuala Lumpur

Dr. Khairul Azizan Suda is a Senior Lecturer at Universiti Kuala Lumpur, UniKL MIDI. His areas of expertise include Information Communication Technology, Oil and Gas, and Project Management. He has more than 10 years experience in industry related to oil and gas, and more than 10 years working at Universiti Kuala Lumpur.

Chahhoub Fatimazahra, UniKL Business School, Universiti Kuala Lumpur

Ms. Fatimazahra Chahhoub is a PhD Candidate at Universiti Kuala Lumpur, UniKL Business School She has work experience in industry before furthering her studies at UniKL Business School. Her education background from Hassan II University of Legal, Economics and Social Sciences, Casablanca, Morocco, with Bachelor in Economics and Management, and MBA from Universiti Kuala Lumpur.

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