INTERNET BANKING ITS PROBLEMS AND PROSPECTS

A DISSERTATION SUBMITTED IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE DEGREE IN MASTER IN LAW (IV. SEMESTER, 2013, PAPER LM 510)

Guided By: Mrs. Shyamali Mukherjee, B.Sc. LL.M. Post Graduate Department of Law North Orissa University

Submitted By: Suman Suravi Roll No: 14001N114022 Registration No : 01865/11

NORTH ORISSA UNIVERSITY

SRIRAM CHANDRA VIHAR, TAKATPUR, BARIPADA 757003, ORISSA

DECLARATION

I declare that the Dissertation work Internet Banking Its Problems and Prospects submitted by me in partial fulfillment of the requirement for the award of degree in Master of Law is an original work done by me based on case studies and words of mouth of the victim of circumstances and I further declare on good faith that nothing has been reproduced from earlier work to the best of my knowledge.

Suman Suravi Registration No : 01865/11 Roll No: 14001N114022

NORTH ORISSA UNIVERSITY

SRIRAM CHANDRA VIHAR, TAKATPUR, BARIPADA 757003, ORISSA
Mrs. Shyamali Mukherjee, B.Sc. LL.M. (Utkal) Post Graduate Department of Law North Orissa University

CERTIFICATE
This is to certify that the work titled the Internet Banking Its Problems and

Prospects submitted in partial fulfillment of the requirement for the award of degree in
Master of Law, IVth Semester, is a record of original work done by Suman Suravi, a student of this Department during Session 2011-13 under my guidance and supervision and that it is her bonafide work.

Place: Date:
Mrs. Shyamali Mukherjee, B.Sc. LL.M. (Utkal) Post Graduate Department of Law North Orissa University

Acknowledgement
It is indeed a pleasure to express my deep and profound gratefulness to my Supervisor Mrs. Shamali Mukherjee for bestowing much of her precious time and thought in going minutely through every page of this work and making appropriate corrections and valuable suggestions. I am proud of having guidance from a scholar like her, with whom I always felt at home. I am also obliged to Mr. S. Patnaik, my reverend Professor, for his academic patronage. Department of Law North Orissa University Dated Suman Suravi

CONTENTS
Executive Summary & Hypothesis Objectives Research Questions Date Sources Research Methodology Limitation 1. 2. Introduction What is Internet Banking 2.1 Internet Its Basic Structure And Topology 2.1.1 Email 2.1.2 World Wide Web (WWW) 2.1.3 Wireless Application Protocol (WAP): 2.1.4 Security

2.2

2.3 3.

E-Commerce: 2.2.1 Business-to-Consumers (B2C) 2.2.2 Opportunities: 2.2.3 Concerns: 2.2.A. Business to Business (B2B) The Growth of Internet Banking and common products:

International Experience 3.1 U.S.A. 3.2 U.K. 3.3 Scandinavia 3.4 Other Countries 3.4.1 Australia 3.4.2 New Zealand 3.4.3 Singapore 3.4.4 Hong Kong 3.4.5 Japan The Indian Scenario 4.1 The entry of Indian bank into Net Banking 4.2 Products & Services Offered 4.3 Future Scenario Types of risks associated with internet Banking 5.1 Operational risk 5.2 Security risk 5.3 Reputational risk 5.4 Legal risk 5.5 Money laundering risk 5.6 Cross border risks 5.7 Strategic risk 5.8 Other risk

4.

5.

6.

Technology & Security Standards for internet banking 6.1 Technologies 6.1.1 Computer Networking & Internet 6.1.2 Protocols
6.2

Banking products 6.2.1 Information only system 6.2.2 Electronic information transfer system 6.2.3 Fully transactional system Application Architecture Security & Privacy Issues 6.A1 Terminology 6.A2 Attacks & compromises 6.A3 Authentication techniques 6.A4 Firewalls 6.A5 Cryptography 6.A6 Digital Signature & Certification 6.A7 Physical Security 6.A8 Security Policy

6.3

6.A

7. 8.

Legal Issues involved in Internet Banking Regulatory And Supervisory Concerns 8.1 Board Regulatory Framework Recommendations 9.1 Technology & Security Standards 9.2 Legal Issues 9.3 Regulatory and Supervisory Issues

9.

END NOTES BIBLIOGRAPHY