With identify theft and hacking of open source network activities real threats in the internet age, it is increasingly important for online shoppers bankers to be aware of the risks and for online financial institutions to be armed to protect against them.
For the banking industry, which has gone to considerable lengths to continually upgrade security measures, this presents a demand which is simultaneously economic and ethical. Indeed, the transition of users from traditional to online banking methods will be a shift "resulting in considerable savings in operating costs for banks." (Sathye, 325) This highlights the nature of it risks for all companies, which must balance security concerns with the financial optimization often associated with such change.
Online banking, bill paying and shopping are all services which have gained considerable momentum within the last five years, as technological security measures have increasingly improved the ability of users to protect themselves against unwanted hacker intrusion. The speed and efficiency of online money exchange makes it advancements desirable in both business and personal application, the rise of which to total mainstream penetration is generally inexorable as this represents an evolution in convenience and ease-of-use.
Still, it remains the case today that even though use increases exponentially on an annual basis, "security concerns and lack of awareness about Internet banking and its benefits stand out as being the obstacles to the adoption of Internet banking" (Sathye, 324) There remain many who believe that online financial transaction is simply to great a risk of sensitive and personal information.
Research tends to suggest that this is largely a misconception though, and that the risks of traditional credit-based shopping or banking in terms of vulnerability to fraud and identity theft are simply higher due to the greater frequency of such crimes comparative to hacking. Moreover, as the internet has evolved to become a more integral and credible avenue through which to conduct meaningful and valuable professional and financial transactions, efforts to protect its users have become more commonplace in institutional contexts such as with the government. Standards passed by the Federal Financial Institutions Examination Council in 2001, and revised in 2005, required that all institutions availing online monetary services...
Security Privacy In health care, the protection of confidential patient information is an important key in to addressing critical issues and safeguarding the privacy of the individual. To provide more guidance are federal guidelines such as: the Health Care Insurance Affordability and Accountability Act (HIPPA). On the surface, all facilities are supposed to have procedures in place for discarding these kinds of materials. ("Summary of HIPPA Privacy Rule," 2102) In the case
Technology and national security / privacy issues / Edward snowden The massive 9/11 attacks revealed some obvious flaws in our security system. Terrorists not only managed to slip through the immigration and airports but also managed to live, train and plan within the United States for many years. The resulting fear of other terrorist groups who might have been living and training in U.S. were justifiable. In this regard, congress came
Again, people find a difference between intrusion by the government and by the private companies. In U.S., there are very few restrictions on private companies than on the government about collecting data about individuals. This is because activities like buying of books, getting a video, seeing a movie in theatres or eating in restaurants have been viewed as public activities of individuals. These are essentially not bothered with by laws
Private and Legal Issues in Database Privacy and legal issues to consider for a database system An essential component in the success of managing database is that management should be concerned with ethical and legal issues associated with both the creation and use of those data in the databases. The use of the database technology provides access to all kind of information about customers, employees, and subjects. However, it has often become
This has been the basic rationale for every totalitarian state during the Twentieth Century. It is the idea that if the people relinquish their rights -- especially their rights to keep anything hidden from the government -- then the government will be better able to ensure that no potential threats to the security of the citizenry ever manifest themselves. This premise, however, is based on the faulty idea that
Security in Cloud Computing Security issues associated with the cloud Cloud Security Controls Deterrent Controls Preventative Controls Corrective Controls Detective Controls Dimensions of cloud security Security and privacy Compliance Business continuity and data recovery Logs and audit trails Legal and contractual issues Public records The identified shortcomings in the cloud computing services and established opportunities for growth regarding security aspects are discussed in the current research. The security of services is regarded as the first obstacle. The opportunity for growth is provided as combination
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now