Ais 160 Article
Ais 160 Article
Ais 160 Article
PREPARED BY:
NAME NO MATRIX
Eviey Theisera Inggu 2022812258
Marchelly Octovia Octovarino 2022499572
Mohd Danial Hanaffi bin Mustaffi 2022855078
Muhammad Afiq Zafran Bin Zakaria 2022492174
PREPARED FOR:
DR. SITTI SYAMSIAR
Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
TABLE OF CONTENT
Contents Page
Acknowledgement 1
Abstract 2
Introduction 2-4
Summary 7
References 9
Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
ACKNOWLEDGEMENT
We would like to express our special thanks of gratitude to Dr. Sitti Syamsiar binti Muharram
for the time and efforts that she gave throughout our project. Your useful advice and
suggestions were really helpful to us during the project’s completion. In this aspect, we are
eternally grateful for you. Last but not least, we would like to take this opportunity to thank
our family members and friends, without them this project could not have been done
effectively in such a short period of time. We cannot forget their love and support
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
1.0 ABSTRACT
PURPOSE: Our group has been assigned one task by our lecturer about digital security, ethics,
and privacy: Threats, issues, and defense. After a few discussions among our group members,
we have decided to choose our title article which is, Study of Weakness, Strength, and Threats
of Using E-wallets in Malaysia. In this study, our group will identify each of the points we want
to study: the Weakness, Strengths, and Threats (WST).
METHOD: We are using the method of Identifying the weakness, strengths, and threats of
using E-wallets and also we search the literature and secondary data. The relevant secondary
data were collected from articles that are relevant.
1.0 INTRODUCTION
As we know E-wallets or also known as anything using platform that provides that
Electronic wallet is already has been a kind of services such as Food Panda and
number one choice for most people in this Grabfood. All these services have an option
century due to its special service in which to pay by using E-wallets to make it easier
people do not have to bring physical and fast. Covid-19 has led to an increase in
currency when it comes to buying e-wallet usage of more than 80% in the
something, people just take out their nation as limited movement among
smartphone and scan the bar-code or QR- Malaysians has pushed cashless payments
code code set the amount then the during the past 18 months. There are
transaction is completed. In, addition E- already 53 e-wallets in Malaysia, according
wallet is being used by most Malaysian not to a research by Fintech News Malaysia.
just for its convenience but also during the The industry takes up 19% of the nation's
MCO people is prohibited to make contact fintech area, and Touch 'n Go eWallet is still
with each other, and during the lockdown, the most popular option, per an Ipsos study.
we cannot go out so people tend to buy
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The present digital revolution, which is payment app like e-wallets is one instance.
characterized by pervasive internet Adopted consumer cell phones, made
connectivity and widespread mobile phone possible by the expansion of flexible
use, has greatly increased the potential for payment providers that aim to offer retailers
payment systems to develop. The and customers more incentives than banks
introduction of sophisticated advanced have in the past
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
1.2 WEAKNESSES
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
1.3 STRENGTHS
The consolidation of accounts has some thanks to technology, customer service,
advantages, and using apps and and product management must always
payment platforms is simple. A perform at their highest level. Mobile
transaction between a vendor and a wallets have grown in popularity over
customer can be completed on our the past few years and may be used at
phones with a single "click touch." The the majority of establishments that take
privacy of a customer and the safety and cards as a form of payment. While there
protection of the data are the most are still some websites that utilize
crucial factors. Today, all online outdated processing. Restrict access to
platforms have robust security and some products or services, and the
protection measures in place to number of stores providing this kind of
safeguard customer data. Because of access to purchases increases every
how easy it is to access other accounts year.
1.4 THREATS
• Cyber security problems like password protecting it. E-wallets
cyberattacks are at the mercy of are beneficial since they offer
technology. Fraud and other obvious security advantages.
people's attempts to steal a user's Technology has many benefits, but
data and subsequently sell it to a to fully utilize it, it must be
third party can be stopped by using managed responsibly. Additionally,
an e-wallet. Additionally, there are there is a significant chance of
two different dangers associated contracting computer viruses,
with e-wallets. First, the security of which might block apps. Second,
a user's smartphone or other mobile this kind of technology causes
device depends on the settings they certain people to battle with their
select. Users risk having their spending habits and can lead to
device stolen and having the money reckless spending behavior; when
from their bank account or credit money is based electronically rather
card accessed if they do not have a than physically, a person loses sight
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
of its true value. If they are already link, which downloads spyware
having trouble maintaining a budget onto the phone, thereby allowing
with a traditional wallet, switching the hacker to read the user’s
to an electronic wallet could make password and transactions
matters worse cyber criminals will authorization code (TAC) sent
continue to make use of various through text. Last, but not least, it is
tactics to scam e-wallet users. For a concern that multiple wallets may
example, a user could have be utilized by one client, and this
accidentally clicked on a phishing threat has not yet been responded.
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
• SUMMARY
So at the end of our research, we identified task, privacy risk, and performance risk
that when someone is using E-wallet there also have significant factors, and therefore
are actually being exposed to many e-wallet providers should not oversee as it
unpredictable circumstances that can lead is a chance to understand what consumer
to disaster on their self. For example, needs and want. Therefore, extra attention
threats that the user would encounter such is given in order to expand the use of e-
as scammer and the possibility data of a wallets by banking institutions or online
person would be loose. Hence in this transaction facility providers. In order to
research, we also figure out the weaknesses secure flawless systems security,
of digital security of E-wallets that are consumers need to have confidence and
being used by Malaysian citizens to prevent trust in the online transaction provided by
something unwanted circumstances to users e-wallet providers, policymakers, and
of E-wallets. In addition, we also find out financial institutions. Although there are
how to overcome the weakness by finding many advantages to e-wallet platforms such
strengths for E-wallets so that users can as convenience, cost savings, and quick
enjoy the services safely, for example response, there also have several limitations
before we want to log in to our E-wallet and risks that affect the behavior of
account we need to state our password acceptance among the consumers to use and
being set by ourselves so that anyone who also to accept the technology payment in
wants to try to control your account will be the e-wallet platform service.
difficult due to the security. The overall
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
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Afiq zafran, Marchelly Octovia, Danial hanaffi, Eviey Theisera.
References
Chew, B. C., Shen, X., & Ansell, J. (2020). Alipay entered Malaysia: a closer look at the new
Www.oppotus.com. http://www.oppotus.com/e-wallets-malaysia-landscape-end-
Kee, D. M. H., Lai, K. H., Lee, J. C., Lee, K. J., Lee, J. L., Yosanti, I., & Aryani, D. N.
(2022). Do You Have a Digital Wallet? A Study of E-Wallet during the COVID-19
Razif, N. N. M., Misiran, M., Sapiri, H., & Yusof, Z. M. (2020). Perceived risk for acceptance