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Essay / Research Paper Abstract
This 6 page paper addresses security issues facing electronic banking, and banks in general. Authentication, electronic signatures and encryption along with related technologies are each discussed. Bibliography lists 8 sources.
Page Count:
6 pages (~225 words per page)
File: RT13_SA211bnk.rtf
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Unformatted sample text from the term paper:
and several technological aspects of this becomes rather important. The digital signature is something new. In the past, handwriting was the only way to verify whether or not people are
who they say they are, but today, electronic signatures are catching on. Encryption is also important as computers operate based on encryption practices that protect citizens from unauthorized access to
their accounts. Speaker of the House J. Dennis Hastert and Senator Strom Thurmond used electronic signature technology for the first time when they signed in their own handwriting
the Year 2000 Readiness and Responsibility Act (H.R. 775) ("Congress Signs," 1999). After it was signed by those two senators, the bill was sent to President Clinton for approval via
e-mail (1999). While it seems as if the time has come to utilize digital signatures, many questions loom large. How can one be assured of safety with this new technology?
How might it affect the banking industry where many transactions are contingent on signatures? First, what is a digital signature anyway? It is actually a subset of the electronic signature
concept but it technically means different things to different people (Jeter, 2000). To technologically-oriented people, a digital signature is a complex type of cryptography (2000). The Mississippi Secretary of
States office for instance describes a digital signature as "a computer-entrusted code that protects the authenticity of electronically filed documents" (p.19). While the validity of digital signatures can be compromised,
what is the advantage of using such things? First, it is able to speed up business, and is helpful to banks for example (2000). Thus, transactions may be done without
taking an inordinate amount of time, or going to the bank, or mailing in paperwork. Also, there are limits on its use. The digital signature for example would not be
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