Behavioural and cognitive determinants of financial loss and mental health deterioration following cybercrime victimisation

Abstract

Abstract The rapid growth in the use of digital technologies has led to increased exposure to cybercrime, with significant financial and psychological consequences. This study examines the behavioural and cognitive factors that affect cybercrime victimisation and its outcomes. Drawing on Cyber Routine Activity Theory (CRAT) and Protection Motivation Theory (PMT), the research examines the effects of digital lifestyle exposure, cybersecurity awareness, financial literacy, perceived susceptibility and risky online behaviours on cybercrime victimisation and financial loss and mental health deterioration. A quantitative research design was used with the aid of a structured questionnaire that was administered to 397 digitally active individuals and the data were analysed with the help of structural equation modelling (SEM). The results suggest that cybersecurity awareness, and risky online behaviours significantly influence on cybercrime victimisation, while digital lifestyle exposure, financial literacy and perceived susceptibility show no significant effects on cybercrime victimisation. Furthermore, cybercrime victimisation is found to have a significant contribution to financial loss and mental health deterioration and vice versa. These findings underscore the importance of behavioural practises in shaping cyber vulnerability and the link between the financial and psychological repercussions of cybercrime. The study adds to the literature by considering behavioural, financial, and psychological outcomes within a single framework and offers insights into the development of effective cybersecurity awareness and behavioural risk mitigation strategies.