Electronic funds transfer: new legal issues?

Research output: Contribution to journalArticle

Abstract

Electronic funds transfer (EFT) payments promise a cashless society in electronic commerce (e-commerce). Whilst technical issues have overcome the legal and practical logistics are being addressed. A background to legal problems is given including liability, certainty of payments and the requirements of mobile commerce (m-commerce). Cybercrime threats such as fraud and abuse of access to automatic teller machines (ATM) are also outlined. Issues with the disenfranchised young, older persons and indigenous populations in outback Australia who use EFT are discussed. Litigation from various common and civil law jurisdictions are described as relevant legislation pertaining to EFT. New technological innovations in mobile banking (m-banking) have introduced new problems that challenge the law. Policy and legislative instruments provide a critical means by which issues may be overcome to ensure that EFT as a generic payments system may yet endure as a sound business model.
Original languageEnglish
Pages (from-to)168-182
Number of pages15
JournalInternational Journal of Technology Policy and Law
Volume1
Issue number2
DOIs
Publication statusPublished - 2012

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electronics
transfer payments
electronic commerce
civil law
common law
fraud
technical innovation
commerce
banking
liability
jurisdiction
abuse
logistics
threat
Law
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Cite this

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title = "Electronic funds transfer: new legal issues?",
abstract = "Electronic funds transfer (EFT) payments promise a cashless society in electronic commerce (e-commerce). Whilst technical issues have overcome the legal and practical logistics are being addressed. A background to legal problems is given including liability, certainty of payments and the requirements of mobile commerce (m-commerce). Cybercrime threats such as fraud and abuse of access to automatic teller machines (ATM) are also outlined. Issues with the disenfranchised young, older persons and indigenous populations in outback Australia who use EFT are discussed. Litigation from various common and civil law jurisdictions are described as relevant legislation pertaining to EFT. New technological innovations in mobile banking (m-banking) have introduced new problems that challenge the law. Policy and legislative instruments provide a critical means by which issues may be overcome to ensure that EFT as a generic payments system may yet endure as a sound business model.",
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}

Electronic funds transfer: new legal issues? / Cho, George.

In: International Journal of Technology Policy and Law, Vol. 1, No. 2, 2012, p. 168-182.

Research output: Contribution to journalArticle

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