The prevalence of cybercrime has been an emerging problem since the rise of the technological age. It is posited that cybercrime has been generating a higher payback than drug trafficking and that it is expected to grow further as technology usage expands in developing countries.

If the risk of cybercrime is not properly managed, it can result in a decrease in the adoption of e-commerce in both developed and developing countries. This decreased adoption can have a greater impact in developing countries, who are in dire need of commercial activities to boost their economies. However, there is relatively little research in this domain in Jamaica. Hence, the purpose of this study is to assess the state of cybercrime in the Jamaican financial sector.

The study found identity theft to be a major cybercrime act in Jamaica, and cybercrime victims exercising greater precautions when conducting online banking transactions. This study intends to provide useful insights to consumers to sensitize them about cybercrime risks, as well as providing guidance to business executives in the formulation of policies and strategies to combat cybercrime.