HL Banking Task

Area of Interaction - Business and Employment

Banking and Finance
1. Define these terms:
a. Internet Banking (sometimes called online banking or e-banking)

b. Internet Brokerage (sometimes called online brokerage or e-brokerage)

c. ATM

d. EFT

2. In what ways are banks utilizing I.T.? Provide as many examples as you can think of.

3. How has the use of I.T. helped make banking more secure?

4. What types of crimes have only become possible because of the use of I.T in banks?

5. What have been the social effects of the move of banks towards increased use of IT.? Think about the effects on both customers and employees.

E-commerce

Recently, details including private information of hundreds of consumers were viewable on a company’s web site. The information could be seen and copied by anyone with internet access. No complicated hacking tools or programming knowledge was required. Many computer security experts think that customer records are not properly protected on many Web sites.


(a) Identify several types of private data, other than names and contact information, in a customer record which might have been able to be viewed due to this security error.



(b) Explain reasons why such a security error could occur.



(c) Explain reasons why companies are extending into internet based business.


(d) Discuss four reasons why many internet stores have not been successful.