Samenvatting

In today’s society, full use is made of online banking. This makes safety and security of online banking an important issue. Two significant threats to users of online banking in The Netherlands are phishing and malware attacks. In this study, an end-user perspective is adopted to study customers’ perceptions regarding safety and security of online banking. A unique feature to this study is that we explore – besides other predictor variables – the relationship between online banking fraud victimization and risk perception. We have made a distinction between three types of victimization: 1) self-experienced victimization, 2) victimization of acquaintances, such as family and friends, and 3) having heard of stories in the media about online banking fraud victimization. Based on a secondary analysis of data from 1200 Dutch users of online banking, collected through an online survey, we conclude that participants perceive their risk of online banking fraud to be small. In general, participants have little experience with victimization, both themselves (2.3%) and in social settings (29.6%). Three quarters of the respondents (75.6%) are aware of victimization of online banking fraud by means of media coverage. Direct and indirect victimization, however, have almost no influence on risk perception regarding online banking fraud. Risk perception is mainly determined by perceived vulnerability, that is, the estimated probability of becoming a victim of online banking fraud. Furthermore, perceived severity or impact of online banking fraud and the degree of trust in online banking contribute to some extent to risk perception. In total, 64.0% of variance in risk perception was explained by the predictors perceived vulnerability, perceived severity, locus of control, trust in online banking, (in)direct experiences with victimization (self, acquaintances and media) and demographic variables (gender, age, educational level and work status). The results of this study may help to improve communication about risks regarding online banking.