Phishing avoidance behaviour among internet banking users in southwest region of Nigeria

Despite the benefits of Internet Banking (IB), its usage among banking users remains low due to Phishing Attacks (PA) regardless of its availability. However, PA continues to harm IB users and banking organizations worldwide causing low usage on IB platforms. Besides, PA remains one of the ultimate online attacks against financial institutions in which technical solutions have not been able to completely prevent its growth. Subsequently, the study advocate for nontechnical solutions to encourage Phishing Avoidance Behaviour (PAB) from users of IB as means to effectively fight against PA. The purpose of this study is to enhance and validate a model that measures PAB among IB users on Technology Threat Avoidance Behaviour (TTAT). The study used a quantitative approach by distributing 600 questionnaires to respondents in the Southwest region of Nigeria using a simple random and cluster sampling procedure. Meanwhile, 501 questionnaires were returned, and 480 were usable. Quantitative data analysis was conducted using PLS-SEM. The result for directed hypothesized relationships is significant, except for Conceptual Knowledge, Self-Efficacy and Perceived Threat, Avoidance Motivation. Interaction hypothesized relationships are insignificant. Similarly, moderating role of System Trust was insignificant. PA is believed to have instilled a low level of trust towards IB users. Meanwhile, the study model validation process was verified with a total of five experts in the field of information systems and banking. This analysis becomes an important contribution to the study that provides the basis for further investigations on the importance of TTAT for IB. The factors identified contribute to policymakers and services providers spotting weaknesses in the current system for future improvement on IB platform, to ensure continuous usage and avoidance of PA by its users. Implementation of PAB by IB users in the Southwest region of Nigeria would have positive influences on the literacy among youths, increase usage, mode of reasoning, and national efficiency. Finally, this study contributes by providing a model that measures PAB success among IB users against PA.