Legal Regulation Of Internet Banking

Internet Banking: Law and Practice examines the legal and regulatory issues of Internet banking. Containing a critical analysis of the rules and regulations, it also assesses the practices of the banks providing internet banking services in several jurisdictions like the UK, Australia and Malaysia. For this purpose, the terms and conditions of the banks in those countries are thoroughly examined. The focus of the analysis is on the protection of consumers’ data and apportionment of liability in cases of fraud and systems failure.This work also discusses the very latest legislative developments, especially in the EU and Australia, affecting Internet banking in the UK, outlining such recently enacted law as the Distance Marketing of Consumer Financial Services Directive, Directive 2002/65/EC.

Doctoral Thesis / Dissertation from the year 2005 in the subject Law - Comparative Legal Systems, Comparative Law, grade: 70/100, Stellenbosch Universitiy, course: LL M International Trade Law, 61 entries in the bibliography, language: English, abstract: This paper focuses upon legal issues arising in the field of electronic or Internet banking. The overview of previous developments in this field and of types of e-banks will be given. It analyses existing and potential problems mainly connected with cross-border services. The issue of data protection, the right to provide services and the advertisement of e-banking services will be especially examined. The paper will evaluate current regulation and it will be shown, that there are either lacunae in such legislation, in the alternative, several important issues are left unanswered, possibly severely hindering the further progress of Internet banking. This dissertation suggests that further developing of both international and domestic legislation is crucial for banks to be able to make use of the possibilities offered by the Internet.

The European Union has long sought to create a single financial area across Europe where consumers in one country benefit from financial markets and activities in other countries. With the emergence of the Internet as a platform for the provision of online banking services, the creation of a pan-European market for banking services appeared a realistic proposition. In practice, however, this has not happened. This book asks why and argues that the creation of banking markets via the Internet relies on both available technologies and appropriate laws and regulations. The institutional and legal framework for online banking services in the single European market are examined, as is the level of legal harmonization achieved in the UK, France and Germany under the influence of the EU Directives pertaining to online banking activities.

Although electronic banking is rapidly overtaking direct bank-to-customer and bank-to-bank contact and seems to be moving forward without serious problems the law governing this telecommunication-based business is not always clearly defined in relation to certain issues that arise with ever-greater frequency, especially in cross-border transactions. This is the first book to investigate and present the applicable legal consensus for each of these important issues, based on existing legislation and relevant judicial decisions. The legal issues in question arise from such events, activities, and actualities as the following, all of which are treated in this book: determination of local jurisdiction applicability of contractual obligations; probative value of digital documents electronic evidence electronic money protection of privacy day-trading facilities web marketing of lending services electronic bills of lading Internet stock offerings electronic determination of title outsourcing of electronic banking functions Eighteen outstanding authors, bankers, lawyers, and academics contribute their expertise to elucidate the issues and their implications. They draw their legal analyses from international norms such as the UNCITRAL Model Law, relevant EC directives and draft directives, the United States Uniform Electronic Transaction Act (UETA) and E-Sign Act and other national laws, as well as from numerous court decisions in Europe and the United States. The essays are based on papers originally presented at a conference sponsored by the Law Centre for European and International Cooperation (R.I.Z.) and held at Cologne in April 2001. Legal Issues in Electronic Banking will be of great value to anyone involved in banking or financial services. It could be said that what it sets forth is nothing less than the future mode of financial transactions.

Bank and Customer Law in Canada is a concise introduction to the laws governing banking in Canada and the relationship between banks and their customers. The book covers corporate governance structure, permitted bank activities, foreign banks, bank subsidiaries, payment orders, electronic banking, and non-bank third party payment providers.

Information and insight into the legal, regulatory, legislative and policy issues in electronic banking and commerce.

The introduction of electronic banking into the banking sector is to bring customer satisfaction thereby enhancing the bank's' profitability. Compared to ordinary banking system electronic banking is providing the competitive advantage by lowering the cost and providing best satisfaction of customer needs. But unless this technology curtails certain risk that comes along with it, there would not be the requisite increase in customer satisfaction over the traditional bank branches and customer may perceive it as the same as different branches rather than a new means of delivery channels. The benefit of e-banking from customer point of view is convenience to access account 24/7, that is, access is not limited to banking operation hours and available around the clock, wherever the customer's located on the other side people are generally shy of use of these services because of the perceived risk of failure, complexity and security. The legal issues of Internet banking in India must be taken more seriously by all stakeholders especially the Indian banks. However, better results cannot be achieved till cyber security requirements made mandatory on the part of Indian banks. The book is designed for individual who have Law, banking students & professional or equivalent to a bachelor's degree in management and banking competitive exams.