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Security Issues of Financial Transactions on the www.

A full look at DG HYP's security can be found at this site .
             The forward momentum of technology makes it difficult to assess what is the near future and what is the present (by the time this report is read, at least one of the major Internet security applications would have had a 'patch' released to improve it). .
             It is clear that there are several main forms of security likely to provide the benchmark for safe financial transactions.
             The most widely used form of security is Netscape's 'Secure Socket Layer' or 'SSL Protocol'. It uses the standard PKI (Public Key Infrastructure) to transfer private information (e.g. credit/debit card details) from the client i.e. the customer, to the server, or seller. This application has become standard in most e-business tools and is said to provide the most safety to customers and businesses. Click here for a more complex guide to SSL .
             Encryption is currently largely used in conjunction with credit card transactions on the WWW, however as some of the examples given show, the current standard of encryption being used is not high enough to shut out consumer fears.
             Current standards in 'digital signatures' or 'cryptography' are perhaps the best example available of how secure financial transactions can be. .
             These can guarantee the authenticity of information and the information's source. However, certificates must be granted to use these and there is currently no worldwide standard to assure the quality of such signatures. This clearly leaves the appeal of such technologies less viable.
             Sites such as Shields UP! aim to help both business and individuals to allay fears about security by telling them just how safe their computer systems are. .
             However it has been argued that places such as this have the adverse affect on users and just cause more concern.
             Its not just technological process that will determine the future of business. In order to assure consumers of the safety of the WWW, appropriate legal framework needs to be introduced.


Essays Related to Security Issues of Financial Transactions on the www.

1. Impact of E-payment in Curtailing Fraud in Government Agencies

... on-line (Nezu, 2000). (6) Elimination of Delays: For the purpose of avoiding delays in the payment processes, the mandates to effect payments must reach the paying banks within twenty-four (24) hours after approval for payment by the Accounting officer. (7) Correct account number of beneficiaries: MDAs must insist that the account numbers of the contractors must be clearly stated on the invoices submitted. (8) Other issues: For the purpose of smooth operation of the ... (IPPA) (http://www.thenigerianvoice.com/nvnews/52764/1/cashless-economy-mobile-banking-to-capture-over-n2.html) : It is ...

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2. On Fear and Freedom

... records, monitor financial transactions, and conduct nationwide roving wiretaps. Second, the Act permits law enforcement agencies to circumvent the Fourth Amendment's requirement of probable cause when conducting wiretaps and searches that have, as "a significant purpose," the gathering of foreign intelligence. Third, the Act allows for the sharing of information between criminal and intelligence operations and thereby opens the door to a resurgence of domestic spying by the Central Intelligence Agency" (http://www.ccr-ny.org ... require the librarian to report on the books you had peru...

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3. the effect of globalisation

... are limited to the number of potential customers located within the environment, the size of internet is equivalent to the number of internet users around the world. (Michel A, 2000) The implications of Internet banking are wide. According to Michel Accad 2000 during is speech on the future of electronic banking in Nigeria - the role of the internets the effect of price clarity and consumer ... In the case of banks, while the lower cost structure and wider reach will prove beneficial, the competition will no longer be the bank down the street or in the next town. It will be the bank in ...

  • Word Count: 17126
  • Approx Pages: 69
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4. Terrorism and Globalization: Is Terrorism a Part of Globaliz

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5. Overview of BookTrader.com

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  • Word Count: 5687
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6. Foreign Direct Investment in the Chinese Energy Market

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7. Marketing Analysis of Canned Coffee to Estonia

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8. E-Commerce Effects To Consumers

... ) we can mention this. I noticed that there is a build-in reference to certificate authority into XML document that describes a service interface B2C describes the interaction between a business and the customer. Many of the issues with B2B transactions are shared with B2C, but the interaction is generally more open to abuse, since there is no way to restrict access to secured networks or even VPNs, and many additional ... not absolutely necessary. On NT, NTFS must be used to format all drives, directories accessible to end-users should not be in the PATH for admins, and all files should...

  • Word Count: 8592
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9. Project Management And Implemetation

... and allow us to supply new customers with cards within 72 hours. Secure And Private Transactions: This site will maintain security and privacy for its clientele during and after transactions. Personal information and data will not be compromised or sold. A privacy statement will be placed on the site and will be accessible from each web page. Affiliate Page Links: An affiliate page ... need to advertise on popular portals and on financial web sites. The Internet advertising must no be annoying or intrusive, but must attract attention and achieve results. Project Methodology The System L...

  • Word Count: 3507
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