Introduction Background of Study Technology has significantly improved organizational performance by making firms more efficient and connected with one another. In this regard, there is improved connectivity of organizational processes and the adoption of faster data processing techniques. However, as companies continue to reap the benefits of these changes, they are increasingly facing the possibility of losing important or valuable data to hackers through cyber theft. Relative to this fact, Mukhopadhyay et al. (2019) say that the uptake of technology and the prominence of the Internet of Things (IoT), which is a network of objects that communicate with each other, has increasingly exposed companies to the threat of online attacks. Hackers and identity thieves are the most common set of criminals found online and they are ready to exploit weak security systems for criminal gains. Hacking and identity theft are cyber-security issues that have affected many organizations because before most of them use computing devices to carry out their core tasks. Consequently, they are vulnerable to multiple levels of security threats, which can be launched from anonymous quarters. The record and history of online attacks have been well documented in reports, publications, and academic studies (McAfee, 2018; Dinger and Wade, 2019). Most of them suggest that such attacks often lead to the loss of information, privacy, and funds, and may cause reputational damages to firms (McAfee, 2018; Dinger and Wade, 2019). Additionally, firms may be concerned that public awareness about such cyber threats may fundamentally undermine confidence in their businesses. Therefore, without the assurance that the devices are secure and that the data contained in them are protected, it is difficult for people to trust organizational systems. In the context of this study, hacking will be used as a broader term involving different types of malicious activities affecting the integrity of data or information contained in a secure network system. For example, Carpenter et al. (2020) classify unlawful appropriation, embezzlement, espionage, and plagiarism as part of crimes involving hacking. The establishment of sham websites to carry out fraudulent activities and using spoofers to “trick” people into releasing sensitive data through phony email addresses are also categorized as crimes involving hacking (Levitin et al., 2018). Contrary to popular belief, hacking does not only affect personal computers because large-scale operating systems, such as those owned by government agencies running water treatment and sanitation services or electric power lines could also be hacked (Bialas, 2016). This statement means that not only are individuals at risk of such attacks but corporations are equally affected. Identity theft occurs in several ways, but the effects on victims are the same as those of hacking. This is because both of them can lead to reputational damage, loss of money, and the release of confidential information – outcomes that could affect financial and non-financial aspects of business performance. Various types of identity theft have been mentioned in the Information Communications Technology (ICT) field and they