Does openness increase vulnerability to digital frauds? Observing social media digital footprints to analyse risk and legal factors for banks

Abstract

Purpose The purpose of this study is to find out if there is a sequence or pattern to digital frauds and whether the openness quotient of any individual has a meaningful role to play in them becoming victims of digital frauds. The legal and regulatory angle of digital frauds and relief measures for social media openness and frauds are discussed to examine the connection between openness, identity data, visibility, vulnerability, digital frauds and social media sharing of information. Design/methodology/approach This study is empirical and investigative research. Primary data was collected via questionnaires circulated among participants from various age groups to understand the implications of different demographic factors such as age, websites used, profiles created and data shared on the internet, social media and e-commerce websites. Findings The results exhibit that the openness factor does affect vulnerability and has an influence on the risk and legal component of inclination towards digital frauds. Practical implications This research study results in bridging the gap by increasing the level of understanding and awareness in users toward achieving proactive and regulated behaviour and comprehending the violation of various acts of digital frauds and its implications, especially in the Indian banking sector. Originality/value This study will be beneficial to all individuals alike in understanding the implications of excessive openness toward digital platforms and evaluating generic and legal solutions to avoid becoming victims of digital fraud.