ABSTRACT

In today’s world of development, electronic data is like a blood vein of any organization. Companies or firms spend a huge amount of money to manipulate and secure information or data of company.  As business sectors become more dependent on Information and Communication Technology (ICT), data security is a major concern. Through ICT, People do facilitate easily business operations within short time, with high quality, performance and with affordable costs. However, this business information faces a high risk of attacks due to the advancement of ICT (ISACA Journal, 2017). This research paper is based on the assessment on the effects of Insider threats in the Tanzania banking industry. Insider threat as a circumstance that have the potential to cause loss or harm on computer programs, data and communication systems (Probst &Hunker, 2009; Matt & Carrie, 2005; Kenya Cyber Security Report, 2014). Different types or models of insider threats which are addressed in this research paper led to a serious loss, harm and damages to the commercial banks, such as business reputation damage, loss of revenue, cost arising, reduction of productivity, penalty, and loss of competitive advantage and finally even bankruptcy of banks (Cox, 2012; Safa & Futcher, 2016). The study dealt directly into three specific objectives: First, to assess the factors that accelerating the trend of insider threats in Commercial Banks in Tanzania. Second, to investigate efforts taken by the Commercial banks in preventing and detecting insider threats. Third to determine the effectiveness of internal controls in tackling insider threats in commercial banks in Tanzania.Primary and secondary methods of data collection were used in Bank of India in Ilala District, Dar es Salaam. Questionnaires and interviews research instruments were deployed to data collection.