Malware victimisation and organisational survival: A multi-method exploration of emerging market

Abstract

The internet has gained widespread acceptance globally since its inception. However, the escalating threats associated with this acceptance are alarming, as cyber fraudsters continually imitate and execute grievous attacks on corporate entities. While much is known about the various dimensions of malware attacks and defense (Sharmeen et al., 2019), little attention has been given to how malware affects the socio-economic survival of organizations in Nigeria, particularly in Cross River State. This article aims to bridge this knowledge gap by presenting empirical evidence on how malware victimization impacts organizational survival in the study area. Through the use of questionnaires and in-depth interviews, a sample of 1,074 research participants, including bank staff, industrial workers, and telecommunication staff, was selected from Cross River State using a multi-stage sampling technique. The findings reveal a significant increase in malware victimization among corporate organizations in Cross River State, resulting in severe consequences for their socio-economic development. To mitigate these risks, the study recommends that organizations strengthen their network security, implement comprehensive cybersecurity awareness training programs for employees, adopt advanced detection and response technologies, and employ mobile security solutions or business internet traffic security measures to ensure their safety.