Breach of data confidentiality

Breach of data confidentiality Introduction This essay focuses on breach of data confidentiality as a potential source of problems in healthcare institutions. Ensuring data confidentiality in healthcare institutions is a form of creating accountability in care organizations (American College of Healthcare Executives, 2012). The paper looks at causes, consequences, and recommendations on effective management of data.Advertising We will write a custom essay sample on Breach of data confidentiality specifically for you for only $16.05 $11/page Learn More Data confidentiality Poor handling of patients’ confidential data can cause serious problems in healthcare institutions. Therefore, preventing unauthorized access to and improper use of such data are mandatory parts of effective data governance in healthcare institutions. The goal of information confidentiality is to eliminate data security threats such as data loss and unauthorized access to, inappropriate use, and distribution of su ch data. This is a potential source of reputation and data privacy challenges in healthcare institutions. Causes and Prevention Healthcare institutions experience data confidentiality breach from unauthorized access, manipulation, usage, and distribution. Therefore, healthcare institutions must make sure that data are confidential by providing data security solutions that safeguard, restrict, and prevent unauthorized access to patients’ information. In addition, healthcare should stop any authorized access or use of such information using its internal structures for restrictions. Therefore, in order to ensure information confidentiality in healthcare institutions, there should be several measures to prevent confidentiality breach. First, healthcare institutions should use controlled access systems. This aims at preventing access to information by providing various access levels and authorization. Healthcare institutions should ensure that employees only get access to informat ion relevant to their job categories. Second, healthcare institutions should have restrictions on gaining access to areas and systems with medical records of patients. Third, healthcare institutions should have identification and authentication procedures for their employees. This approach ensures that only people authorized to get access to data do so. It should also implement real-time identity procedures to ensure that only employees with authorization can get access to patients’ information. Fourth, healthcare institutions should have systems that conceal patient’s identity as a way of controlling access to patients information. Thus, people can gain access to and use such information without compromising their confidentiality (American Medical Association , 2012).Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Importance of ensuring data confidentiality There a re serious ethical and legal consequences of breaching data confidentiality. As a result, ethics and laws about information confidentiality have evolved to protect both patients and institutions. However, healthcare institutions face constant threats from computerized systems as they have changed how people gain access to and use confidential information. Given difficulties with information governance in healthcare institutions, healthcare institutions and their employees should ensure utmost protection of patient confidentiality. Employees in healthcare institutions must ensure that confidential data remain protected always. Therefore, it is the duty of caregivers to let patients know the limits of confidentiality. Thus, patients must make informed decisions about protecting their sensitive information by avoiding disclosure and choice for treatment. Patients also expect their caregivers and physicians to respect their privacy. In other words, caregivers and physicians can only rel ease sensitive medical records with informed consents of patients. It is only important for physicians and caregivers to know laws that involve effective protection of confidentiality, and should not ignore any form of confidentiality breach. This is because even minor cases of confidentiality breach result to mistrust, potential lawsuits together with disciplinary action or dismissal from the job (American Medical Association, 2012). Recommendations for information confidentiality in healthcare institutions Healthcare institutions face many challenges due to confidentiality of information shared across many sections. Human problems and management practices are serious threatens to information confidentiality in healthcare facilities. Therefore, effective information confidentiality and governance should involve the following. Healthcare institutions must educate both their staff and patients about the importance of maintaining information confidentiality. This ensures that people w ho handle such confidential data understand possible consequences of confidentiality breach. Healthcare institutions must also create systems that guard against any form of breach in confidentiality. This implies that policies and access controls should focus on regulatory and legal benchmarks. This prevents threats to information confidentiality.Advertising We will write a custom essay sample on Breach of data confidentiality specifically for you for only $16.05 $11/page Learn More If information governance procedures and access controls will have desirable impacts on healthcare provisions and management activities, then employees will adopt desirable practices when handling data. This improves quality of healthcare and satisfaction of patients. Different units should also align their procedures and information controls with those of the institution. This eliminates cases of unauthorized access to information. This requires all departments to collaborate a nd create aligned systems of gaining access to information. Healthcare facilities must also develop and implement procedures for reporting any case of breach in confidentiality of information. All parties know severe consequences of information misuse and loss, such as financial, trust, reputation and regulatory. Further, healthcare institutions must also avoid corresponding fines, lawsuits, loss of patients’ confidence, and misuse of information by adopting effective information governance. Therefore, any healthcare institution can reduce cases and impacts of breaches in data confidentiality by implementing appropriate methods of managing and reporting cases of confidentiality breaches. In case of any confidentiality breach, healthcare institutions should have appropriate response mechanisms to confidentiality breach and propose alternative measures to reduce impacts of such cases. References American College of Healthcare Executives. (2012). Top Issues Confronting Hospitals : 2011. Web. American Medical Association. (2012). Confidentiality: Computers. Web.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More American Medical Association. (2012). Patient Confidentiality. Web.

What is Proofreading And Can You Do It Yourself

What is Proofreading And Can You Do It Yourself What is Proofreading? And Can You Do It Yourself? Whether you’re a student, a mechanic, a doctor, or a professional writer, you’ve probably come across proofreading in some form or another - though you might not be aware of it. So much of the work people do these days revolves around the written word. Mistakes in their writing can have a massive impact on their success - which is where proofreading comes in!In this post, we’ll have a look at the ins and outs of proofreading, from the perspective of experienced proofreaders in the publishing trade.What is proofreading?Proofreading is the act of reading written work and marking any errors. These mistakes most commonly involve spelling, grammar, punctuation, and consistency.In publishing, proofreading comes into play at the very end of the editorial process, after a manuscript has been corrected by a copy or line editor. The proofreader’s job is to comb through the document and look for any mistakes that may have slipped through the cracks. Regardless of h ow meticulous the writer and editor have been, there will almost always be errors when you’re dealing with a book of 80,000 words or more. Find out what proofreading involves right here. What Are the Meaning of Proofreading Marks? Read post Can you proofread your own work?Many writers can and do proofread their own work. Simply reading back something you’ve written will usually reveal typos and ungainly passages. In situations where your writing isn’t intended for a massive audience (for example, in an email to your boss), you can usually rely on an online spelling and grammar checker such as Grammarly to catch any major mistakes.However, when it comes to a longer piece of writing meant for wider consumption - like, say, a book - there’s still nothing that can beat a trained professional.Who should use professional proofreading?In traditional publishing, every book will be proofed before it’s released to the public. If a reader were to find more than a handful of typos or grammatical mistakes in a novel, for example, it could negatively color their reading experience (and damage the publisher’s reputation).In self-publishing, where independent authors often look for ways to reduce th eir costs, proofreading is becoming a non-negotiable part of the editorial process. As indie authors become more professional in their approach, the specter of the â€Å"poorly edited self-pub book† is quickly becoming a thing of the past.Outside of trade publishing, proofreaders will often find work in areas such as academia, journalism, and even advertising. In some corporate settings, they can even be hired to check through slide decks before presentations. Find out how much it costs to hire a pro proofreader. How much does a professional proofreader cost?Based on statistics from Reedsy’s marketplace, proofreading a book costs $10 per thousand words, on average.Of course, this is only a ballpark figure and the final rate will depend on a number of other factors. For example, if the proofreader needs to cross-check the index, this would naturally escalate the cost.In non-publishing industries, costs may also vary. A proofreader with a deep background in technical writing may choose to charge extra for their expertise, for example. But whatever the cost, you can be sure that getting a professional proofreader is worth it. They might just be the difference between a few frustrating typos and a perfectly polished piece.Looking for a proofreader? Sign up for a free Reedsy account and browse through the best freelancers in the business.

Honesty In Contemporary Politics Essay Example | Topics and Well Written Essays - 1250 words

Honesty In Contemporary Politics - Essay Example The columnist Charles Blow in his issue has mainly discussed honesty, hypocrisy, and lies of the politicians. He talks mostly about Romney, the Republican nominated candidate for the presidency. He sides with the results of the Gallup poll that surveyed the sentiments of Independents and Republicans about Romney’s chances of re-election. This group surveyed is the group considered least likely to vote a Democrat and therefore the fact that they predict that Romney will lose by 20% of the votes is credible since they go against their biases. Blow’s sources are all credible, which is a clear indication of his commitment to veracity. This shows Charles Blow is unbiased, thus he gets views from all sides. The critical arguments made in the article are those that talk about Romney hypocrisy and dishonesty throughout his campaign trail (Blow). Romney contradicts himself countless times and this clearly shows that Romney was not honest about all the promises he was making. The article on Romney’s son intimated to Vladimir Putin personally, that his father Mitt Romney was intending to keep relations with Russia if elected. Blow states that Romney’s son, Matt, recently traveled to Russia and delivered a message to President Vladimir Putin. Later, Romney contradicts himself by saying he told a Russian known to be able to deliver messages to Mr. Putin. As a result of these contradictions, it’s unclear if the message actually got to Mr. Putin. This also does not give us actual evidence of whether Romney’s son actually intimated to the president of Russia. However, the article does accurately represent the state electorate before the United States 2012 elections (Blow). Charles Blow writes another column â€Å"The G.O.P fact vacuum.†

Biography of a scientist Essay Example | Topics and Well Written Essays - 750 words

Biography of a scientist - Essay Example His education was further continued in Italy and later in Zurich he received training in physics and mathematics from Swiss Federal Polytechnic School. In the year 1901, he completed his diploma and joined Swiss Patent Office as technical assistant, after attaining Swiss citizenship. Thereafter in another four years, he completed his doctorate. While he performed his work as a professor in universities or as technical assistance with any organization, he continued with his scientific works as well. During his professional life, he conducted much of his scientific works and also played the role of professor in Physics for a certain period of time. He had also undertaken citizenship in Germany and stayed there from the year 1914 till 1933. In the year 1940 he shifted to America. He sooner became a significant public figure in the Movement of the World Government performing as a leader and he also received the offer for the post of Israel President ship but he did not accept the offer. He is known to contribute in religion works as well (Biography). Thus his reputation and recognition for his contributions were well known in the different countries that he stayed in. Einstein was focused in the problem-solving of Physics and worked on his theory of relativity for which he is most popularly known. He focused on the characteristics of light and also invented the photon theory of light. He also published his writing on relativity. He worked on quantum theory as well while he was in America. After his retirement, he continued with his work on the concepts of physics. His research works were published that included both scientific and non-scientific works of him and he also received doctorate degrees with honor from the Universities in Europe and America in the subjects of science, medicine and philosophy. Also, in addition to these, he received several awards and recognition for his works. The Nobel Prize was awarded to him in the year 1921

The Problems Of Human Population Levels Environmental Sciences Essay

The Problems Of Human Population Levels Environmental Sciences Essay Suppose the world population stopped growing today (whew!) What environmental problems would that solve? Which ones would remain? What remaining problems would get worse? The biggest problem facing our environment today is the population of our planet. If the population of the world stopped today it would help improve living standards and perhaps facilitate more time to improve technology plus help balance the natural resources we have available. Taking steps to preserve or stop the abuse of our environment will largely depend on stabilizing the population. Serious concerns remain if we do not adopt some method of slowing the population. Birth control is one step in slowing down the worlds population. Education in developing countries is paramount. Many of these countries continue to have large families to ensure a sort of social security. However, the health of these families does not insure the longevity of the individuals. Many children die early as the result of poor nutrition and the lack of public health programs. However, even if we were able to contain the population from growing exponentially our environment still needs improvement in almost every sector. No one knows for sure just how many individuals mother earth can support. What we do know is that major problems such as public health, food supply, fresh water and the continued degrading and destruction of our woodlands and rain forests will remain. Plant biodiversity and climate control are also major issues that need our attention. Finally we need to look at what major problems would still remain after a cap in population came into effect. According to the article How Global Population Growth is Creating Serious Problems by Larry West posted at www.environmentabout.com the largest fear is that in coming decades the population of the planet will be faced with serious water-stress or water-scarce situations. These conditions will continue to intensify in meeting the needs of all individuals. The most serious of these overpopulation problems include starvation, pandemic diseases or warfare to secure a means of survival. Describe a way in which you use the scientific process in your life? The scientific process involves the following: identify a problem you would like to solve, formulate a hypothesis, test the hypothesis, collect and analyze the data, make conclusions. Three years ago we purchased an above ground swimming pool. My husband and I have owned two other such swimming pools. Although far from being experts we are both well versed in the care and cleaning of a swimming pool. We were talked into purchasing a paper cartridge type of filter. We had always used a sand filter and they had always performed well. Thinking that this new technology was better than sand we purchased the new filter. What should have been a fun project turned into a real nightmare. The problem was we could not keep the water clear. Although we knew what the problem was, the hypothesis was determining what was causing the water to go from clear to white. We tested the water; we had other people test the water. No one could come up with a reason why this was happening. Finally after using numerous chemicals and gallons and gallons of chlorine we stumbled upon a pool company near us. They also tested the water and low and behold we had phosphates or the common term, white algae. I had always thought that algae were green or black. However, as we learned there is also a variety known as white algae. The material was coming from our well water as well as in the air from farmers in the area spraying fertilizer. Our wonderful new filter that we had purchased could not handle the problem. Last year we finally gave the original filter the heave-ho and purchased the reliable sand filter and the results have been no more problems! A problem that I would like to solve is that of a cat spraying. It has to be the most disgusting thing I have ever encountered. One would have to wonder why cats do this. According to an article at www.iams.com Is your Cat Potty Naughty this is a rather common problem especially for certain cats. After observing cats in general, there are actually several reasons why this happens. First and foremost they do it to mark their territory. This is why it is important to spay or neuter animals especially males. The other issues concern the health of the animal or perhaps a behavioral issue. We have a cat that had both a health issue and a behavioral issue. We got the health issue taken care of with the help of our veterinarian. The behavioral issue was something that was going to take some time. At the suggestion of the veterinarian we secluded this animal in a cage by himself. In addition we tried all kind of cleaning chemicals to get rid of any remaining odor. Thank goodness none of it was on any of the carpeting! What we found however was certain cleaning solutions made the naught potty problem only worse. Any p roduct with ammonia only attracted the animal right back to the spot. So after trial and error we finally found that only cat cleaners that our vet recommended worked. 3. Describe two specific ways that microbes are important environmentally speaking, outside of the areas of health and food. Describe one way that microbes are beneficial in health. Just what is a microbe? Microbes play a very important role in our environment. According to www.library.thinkquest.org microbes are very small organisms belonging to various groups; Bacteria, Fungi, Protozoa and viruses. According to this article they play a significant role in our life on this planet. Without them there would be no earth as we know it. Phytoplankton is one microbe which resides in the ocean. Its role is to provide oxygen and help slow global warming by removing some of the carbon dioxide produced when we burn fossil fuels such as coal, natural gas or gasoline. In addition microbes provide a natural repellent to control pests on food crops and other vegetation. Perhaps if we relied more on this natural pest control we could reduce the use of harmful chemicals that end up on our food. Microbes are also present in our bodies. The friendly bacteria present in our bodies help to break down the food we eat and also prevent us from succumbing to serious illness by preventing harmful bacteria from entering our bodies. 4. Explain what could happen to the ecosystem where American Alligators live if the alligators went extinct. Name a plant species and animal species that would be seriously affected and describe how each might respond to these changes in their environment. The American Alligator is known as a Keystone Species. One might wonder just what a Keystone Species is. These species are those that play a critical role in the maintaining of the ecosystem where those species reside. Keystone Species such as the American Alligator have a very particular niche in the area where they reside. According to an article at www.atlss.org/gator the American Alligators role is one that has a major effect on the plant communities and associated aquatic animals. The alligators have survived where others have been come extinct. At www.exploringnature.org it was cited that alligators were put on the endangered species list back in 1967 and protected from hunting. After the alligator has hatched its young, the alligators nesting mounds provide a nesting area for other species such as herons, egrets and red-bellied turtles. In addition alligators keep in check the population of certain predatory fish such as the Gar. Perhaps the most important role they play is by keeping the wetlands open thereby sustaining the area by providing a home to many other plants and animals. It important to realize certain species even though thought of as annoying pests are quite important to our whole ecosystem. Take the same approach that you used in Question #4 and research and discuss the arrival of the Asian Carp into Lake Michigan. What are Asian Carp and where did these fish come from? According to an article at www.time.com these fish are related to what are commonly called bighead and silver carp. The Asian Carp are native to China and parts of Southeast Asia. These fish were originally used by American catfish farmers to eat the algae in their ponds. The Asian Carp have slowly found ways to make it into the Mississippi River and are now threatening Lake Michigan. According to the article these fish even though they are not particularly dangerous to people, grow quickly and adapt very well to their new environment. What makes them dangerous is that they feed on plankton which removes the bottom layers of the food chain of native fish species. Their potential presence is a very serious problem that has multiple effects. Their entry into Lake Michigan has the potential to ruin the fishing and tourism industries of Lake Michigan and the surrounding states. After all what fisherman would like to be smacked by on e of these huge fish that seem to love to go airborne when disrupted! From another ecological perspective, the Great Lakes are a key mid-continent migration rest stop for hundreds of thousands of waterfowl according to an article at www.ducks.org. Because these fish have such a huge appetite they can eat their weight in vegetation daily leaving the wetlands degraded and destroyed for these migrating waterfowl. This problem demonstrates what can happen when an invasive species find its way into a new area, allowed to reproduce and destroys the original ecosystem. Identify a major local, national or global environmental problem and research and describe the role of population growth on this problem. Lake Manitou is a 735 acre manmade lake located in Rochester, Indiana. This lake is home to many residents of Fulton County, Indiana and also a hot spot in the summer to many individuals living outside the Fulton County area. In 2006 it was discovered that Lake Manitou was being threatened by an invasive fast-growing aquatic plant. The name of this pant is Hydrilla verticillata. Hydrilla is a noxious plant according to www.plants.usda.gov. In addition, according to an article found at www.rochsent.com Hydrilla invades lake this plant is commonly found in southern states. What makes this plant so serious is that it invades the water ecosystem and has the potential to choke out other aquatic plants. There are several ways that this plant may have made its way into this lake. Since this lake is a popular boating lake it is possible that a boat was contaminated somewhere else and when launched into Manitou it released the plant. The second reason according the Indiana DNR is that individ uals who live or rent cottages at the lake unintentionally tossed water garden or pond plants into the lake. My husband and I live on a private lake in Fulton County. This lake has been used in the past by many residents for fishing. However, we are very picky and do not allow any boats to come on our property especially after this incident at Lake Manitou. It is very important to my husband and me that we maintain the quality of the lake and protect the ecosystem right in our own backyard. Explain in a detailed way why most of the animals in tropical rainforest live in trees. Tropical rainforests are defined as dense forests with high amounts of rainfall and are located in tropical regions of the world. These forests are home to all kinds of animals and insect life. In fact there are probably many animals and or insects that have yet to be discovered in the rainforests. According to Rainforest an article located at www.rainforestanimals.net there are several layers to the rainforest. These layers are known as Emergent Layer, Canopy, Understory and the Rainforest floor. The top layer known as the Emergent Layer is home to a variety of insects, some species of bats and some species of birds. The next layer known as the Canopy is composed of trees that grow to heights of 100 150 feet. It is in these two areas where most of the animals make their home and find their food. The lower levels of the rain forest do not receive much sunlight however; these levels still provide an environment conducive to a variety of life that inhabits the rainforest floor. It does make one wonder how so many species can live in harmony and find the food and water to survive. The main reason is because they have adapted to living on specific plants or animals which other species are unable to eat. I found a very interesting article at www.ran.org. that explains how these species often help each other by supplying fruits and vegetation by droppings etc. However, these species have become so dependent on each other that if one does not survive the other will often become extinct as well. Using the bird example as a model, identify another species that your lifestyle (or that of our community) could directly or indirectly contribute to its premature extinction. What are three things that could be done to mitigate that? Extinction is forever. There is no turning back the clock to save the species which in the case of the passenger pigeon was directly the result of human intervention. It is our human activities that have the most profound effect on species animals and plants alike. By degrading and destroying our environment we are the prime reason why species are becoming extinct. One species that could be in danger is migrating waterfowl. By degrading and destroying wetlands and marshes we are limiting the areas where these animals take refuge. On a local perspective we all become annoyed at the growing population of the Canada goose. They seem to be everywhere. But have you ever thought that perhaps we have taken away the areas that once belonged to them? In our local community the golfers are upset because there is a large population of geese. Well what do you expect down the road is a large 735 acre lake and wetlands next to the gold course. It really makes me angry when we take areas away from these animals and then complain about their presence. Where are they supposed to live? Another area that is in danger is located in Western Canada and Central Alaska that is home to one of the largest forested regions in the world according to the article Western Boreal Forest Canada Region #5 located at www.ducks.org . This massive forest area is home to many species of waterfowl including; ducks, loons and sandhill cranes. It is where they migrate, molt and breed. These pristine areas of lakes and forests have in the past been immune to outside degradation and destruction due to the remote area where it is located. However, it is evident that humans are moving into this area in search of ways to feed our growing oil consumption. It will have a profound effect on the land, the species and the climate of this region. There are many things that can be done to protect these wonderful areas. One of the most important I feel is education. Ducks Unlimited strives to do just that by educating individuals and maintaining existing wetlands. In addition we need to use proper forest management to protect these areas. Lastly we need to find solutions to decrease our huge appetite for petroleum. In doing so we alleviate several problems, cut down on destroying pristine areas which are home to many species, lower water and air population and slow down the process of greenhouse gases. All of these are important to sustain our environment.

Consider the Significance of the Extract (Lines 816-844) and Discuss its Relevance to the Tale as a Whole

The significance of this extract is extremely dimensional as the narrator once again provides the reader with additional examples of January's mindset and lifestyle and also continues to foreshadow the remainder of the tale. The immense sexual imagery present during this extract reinforces January's marriage intentions, foreshadows the future and also includes a flair of comedy. The garden January built has been constructed especially to avoid any prying eyes and to achieve the utmost privacy as the garden is ‘walled al with stone.' The impounding enclosure of the walls signifies and reinforces his sexual prowess and desire to ‘menace (L.540)' May which can also be construed to consider January's tendency for sexual violence. The introduction of Priapus, God of Gardens yet also personification of the erect phallus is ironic and is a comedic devise used to signify the importance of the garden as neither could ‘telle the beautee of the gardyn and the welle.' The significance of the key and gate represent January and May respectively as the key to the garden, carried only by January signifies his desire to keep May to himself, allowing no one else to have access to her as she represents the ‘smale wiket' which January was able to unlock when he wished. Keys and keyholes are bold significant metaphors for sex, which proves explicit later on in the tale. The sexual imagery and implications applied during this extract pose a major significance to some of the tale's implied themes of January's age, his intentions for marriage and of the forthcoming deception he will encounter. The mythical gods which are introduced in this extract enables the reader to comprehend the sheer significance of the garden and reinforce the beauty. In particular, Proserpina and Pluto are especially significant later in the tale and their initial connection with the Garden at this position in the tale allows the reader to understand their domestic debate later featured which constitutes to the outcome of the entire tale. Arguably, one of the most predominant significance of this extract is the comparisons of January's private garden with the Garden of Eden. References have been made beforehand, likening the relationship and characters of January and May to Adam and Eve. The main difference between the two couples is Adam and Eve had sex after Eden whereas for January, his Garden has been built purely to satisfy his sexual desires. This extract can also be compared to the wedding feast, where January appears the more dominant of the couple as he eagerly awaits his guests to leave in order to sleep with May. However, this extract proves significant in the power exchange, as here, the initiative rests with May as the reader learns that January's joy will be short lived ‘worldly joy may nat alwey dure.' The extract possess many ‘Courtly Love' references the obvious one being the reference to the ‘Romance of the Rose' a French courtly love poem where the woman is represented as a rosebud in a beautiful garden. Also through the description of the garden the and the ‘welle, that stood under a laurer alwey grene' ‘Courtly Love' is explored and remains a highly comical literature devise throughout the tale. January and May's incompatibility is significantly challenged during this extract which bears an enormous relevance to the tale. The beautiful garden represents spring, which is astronomically associated with the month of May and also the character; therefore ‘he [January] wolde paye his wyf hir dette in somer seson' significantly reinforces their incompatibility and makes way for the adultery. The extract, in relevance to the tale as a whole, provides an insight as to what will happen later on in the tale. Various sexual images and references including ‘thinges whiche were nat doon abedde he in the gardyn parfourned hem' allows the reader to identify and relate this extract to the adulterous actions which later happen. The frequent references to mythical people and Gods are also present within this extract, however, these actually bear a direct significance to the tales scheme.

The Impact Of Online Banking On Global Markets Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2298 Downloads: 5 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Online banking has been shaping and shaking the financial sector world wide. But sustainability depend on proper understanding of consumer, there demand and the way they use it. The main objective of this report is to focus on technology (especially IT) use in banking sectors. Don’t waste time! Our writers will create an original "The Impact Of Online Banking On Global Markets Finance Essay" essay for you Create order It also focuses on Limited Purpose Bank and Credit Card system. Thus objectives of the study are to: Changes of future banking sector and impact of information systems. Limited purpose bank and use of technology in facilitating special purpose. Consumer banking and various consumer facilities provided by bank using information systems. Understand and suggest the online bank on the basis findings. Credit card banks, sub-prime lenders, and Internet primary banks [Mahboob, 2001] FUTURE OF BANKING SECTOR Consolidation of the banking industry: What are the prospects for, and implications of, further consolidation of the banking industry, particularly relating to safety and soundness, market concentration, and small business credit? Combinations of commerce and banking: In future the questions may arise concerning the pros and cons of allowing common ownership and the options for regulating combinations. Supervisory issues: The implications for bank supervision f or the growing complexity of large banking organizations may be other questions. Governance issues: There are many corporate scandals that have led to efforts to hold our corporate management and directors to a higher level of standard [Willium, 1996] LIMITED PURPOSE BANK Limited-purpose banks are institutions that specialize in relatively narrow business lines. Making a certain type of loan, serving as a subset of consumers and offering different innovative products some limited-purpose banks create their market. They focus niche marketing concerning limited set of activities these banking institutions can develop expertise in particular business lines and can become efficient producers. Specialization may have been promoted by technological innovations. Credit card banks offer their customers both convenience and liquidity by providing a financial product that can be used as a means of payment and a source of instant credit. Some banks provide banking services through internet are known as primary banks[American Banker,1996] CREDIT CARD BANK The credit card banks provide their customers with both convenience and liquidity by offering a product that can be used as a payment device and as an open-end revolving credit. There is no fixed duration to allow credit card loans that complicates the measurement of interest- rate risk. It creates the problems of adverse selection because of mass marketing of credit cards, small average balances on individual accounts. High interest rates results in high profitability of credit card loans, fee income, securitization, successful use of technology, and scale economies in operations. We can expect that the prosperity of credit card banks will continue [Ashust, 1996]. Benefits and Costs for Participants in the Credit Card Type of Participant Function Benefits Costs Cardholder Purchases goods and services Convenience of making purchases Without carrying cash Ability to time payments to match cash flows Access to credit Access to float Use of bonus features Interest rates and fees Difficulty managing credit Merchants Sells goods and services Access to large number of consumers Ability to sell to consumer needing credit without carrying credit risk Guaranty of payment Need to pay interchange fees on sales to cardholders Loss of private credit accounts (customer loyalty, marketing information, interest income) Issuing Bank Collects payments from cardholders Extends credit to cardholders Distributes cards Finances receivables Authorizes transactions Ability to collect on interest rate spreads Ability to collect fees from cardholders Ability to share in interchange fees from merchants Ability to crosssell to consumers OperationaI costs Some fraud risk Card Association Promotes the brand Establishes rules, standards and protocols governing participation in network Sets int erchange fee structure Collects transaction fees Collects assessment fees Marketing costs Cost of fraud reduction programs Operational costs of maintaining network TECHNOLOGICAL USE IN BANKING SECTOR Technological improvements have played an important role in the growth of limited-purpose banks as well as in the broader financial services industry. Some people think that specialization in financial institution comes from improvements in technology. Banking sector is going to get fully technology based. Most valuable reasons are the huge task conducted by business firms. Banks are giving consumer service and getting more consumers oriented such as ATM service, Internet Banking, SME Loan, Priority Banking and so on.Banks are now competitive because of combination of banks and commerce. So they have to provide quick service such as check funding, quick withdrawal, fund transfer, LC opening etc. For various purposes data-mining techniques are used in the finan cial industry. Credit scoring is the most mentionable example of the use. To produce a score to summarize a credit risk, credit scoring uses statistical techniques and historical data. Credit scoring is used to speed up credit decision to attract new customers, institutions use data-mining techniques to identify potential customers. In todays financial services industry electronic payment systems are important innovations having methods of transferring funds electronically. Because of having less physical branches these banks rely on ATMs to give their customers access to their cash and on the automated clearing house (ACH) to transfer fund. Credit card banks can process the payments within short time and having no physical existence of branches because of the development of technology. This dramatically reduces the cost of credit card banks. This development benefitted the credit card card banks as well as customers. Credit card banks take the traditional notion of banking as challenge and they have unique product mixes and business models to attract considerable attention f the customers [Basel, June, 1996] BANKING TECHNOLOGY Banking Kiosk Cheque Deposit: A unique feature of the Versa Banker is its cheque deposit capability. It issues a receipt to deposit a cheque with a scanned image of the cheque. If a cheque is endorsed at the back detail transaction report is generated for the department of MIS of the bank. Personal Enquiries: The Versa banker allows you to check your account balance, print a mini statement and make cheque book requests. Internet Banking: Connect to the internet and carry out transactions through e-banking, with the help of Versa Banker. It is asked by the bank to view details of ones account and after that to make transactions online. ATM TMs were originally developed as just cash dispensers; they have evolved to include many other bank-related functions. ATMs include many functions which are not d irectly related to the management of ones own bank account, such as: Updating  passbooks Paying routine bills, fees, and taxes (utilities, phone bills, social security, legal fees, taxes, etc.) Deposit currency recognition, acceptance, and recycling. Loading monetary value into  stored value cards Printing  bank statements Purchasing Concert tickets Postage stamps Shopping mall  gift certificates Lottery  tickets Train tickets Movie tickets Donating to charities Adding pre-paid  cell phone  credit. Cheque Processing Module Games and promotional features ELECTRONIC FUNDS TRANSFER Electronic funds transfer  or  EFT  refers to the  computer-based systems used to perform  financial transactions  electronically. There is a number of different concepts that use this term: A cardholder makes use of payment card Direct deposit  payroll payments for a business to its employees, possibly via a  payrol l services company Direct debit  payments from customer to business, where the transaction is initiated by the business with customer permission Electronic bill payment  in  online banking, which may be delivered by EFT or paper check Wire transfer  via an international banking network (generally carries a higher fee) Electronic Benefit Transfer MICR Check The MICR stands for Magnetic Ink Character Recognition. This technology is unique and uses magnetically chargeable ink and/or toner to print the special characters or numbers on the bottom of the checks. E-13B: CMC-7: United States of America France Canada Spain Australia United Kingdom Other Mediterranean Countries Japan South America (except Colombia) India After printing, the documents are then processed mechanically and electronically through a reader-sorter machine. BANKS in BANGLADESH USING INFORMATION TECHNOLOGY The two main technology based bank in bangladesh are- Dutch Bangla Bank Ltd (DBBL) Eastern Bank Ltd (EBL) TECHNOLOGY USED BY DBBL Dutch-Bangla Bank offers a complete electronic banking facility for your company around the clock. Most multi-nationals use this service because it is advanced, secure and affordable. DBBL creates a custom banking service to suit any business of any size. The services have a wide range that includes cash flow services, distribution banking and salary accounts. If a company knows what type of custom and tailored banking service they need, DBBL can provide it instantly and at minimal cost (usually free of charge). For example for your starting point, DBBL has created Employee Banking program which allows: Providing employees with timely salary payments Transactions are properly logged for your easy reference Seamless and error free distribution of salaries Highly secure way of distributing money Lower manpower needed Reduces cash theft and misappropriation No cash at hand in the office, all cash finally distributed through the largest ATM network in Bangladesh DEBIT / CREDIT CARDS Dutch-Bangla Bank family, always believe that, as in everything else, you deserve the best in banking too. We are here to assist you 365 days round the clock through our Customer Care Center.Normal cards use a magnetic strip at the back of the card. The information and security on that magnetic strip is stationary and does not change. Hence it can be easily duplicated. But NexusEMVs processor uses its processor to fully digitally lock all the information. It prevents the information from being copied as the processor generates security codes rather than store it. It is a form of encryption. INTERNET BANKING DBBL allows you to do seamless intern et banking. This allows you to review your account, statements, paying bills as well as making some transactions. Because of local banking regulations, DBBL is not allowed to provide some types of transactions even though it is fully capable. Additional Internet Banking Features for Corporate Banking: Letter of Credit Bank Guarantee Limits Query SMS/MOBILE BANKING DBBL pioneered Mobile Banking in Bangladesh. It was the first bank to offer banking facilties through a wide range of mobile phones. SMS (Short Messaging System) is an extremely unsecure method to do mobile banking. The mobile phone networks are unsecure and there is nothing DBBL can do but to take precautionary steps. To make the most of this unsecure scenario, DBBL issues you a mobile PIN number which is different from the DBBL pin number for your mobile transactions. Not under any circumstances is the DBBL PIN number to be used in mobile banking. A different PIN number and a mobile transaction limit im posed by DBBL provide some security (but not all) over the unsecure phone network. Clients should be aware and cautious that although DBBL does its best, it cannot guarantee full security over a phone network it has no control over. EBL INTERNET BANKING EBL Internet banking application addresses the needs of small, individual and corporate account holders of the bank. List of Transactions: Fund Transfers and Payments: The customer can choose to transfer funds by selecting different mode of transfers. The user also has the right to select source and destination accounts depending upon his rights. Utility Bill Payment: The customer can make Utility Bill Payments to utility companies as set up by the Bank by transferring funds from his/her Savings or checking accounts. Deposits: Maintain Deposits The user can view all the deposits maintained by the corporate. Request for rollover of deposits The user can request for a rollover of a deposit upon matur ity. Request for premature closure of deposits The customer can redeem/encash a deposit prior to matuity. Session Summary: The customer will be able to view a log of the transactions performed in a session. SECURITY MECHANISMS Encryption Encryption is the usual way to meet the data confidentiality requirements and although using a symmetric algorithm (symmetric or asymmetric) could be used, there are good reasons for using symmetric [Financial times, November 8, 1996]. Message Authentication A Message Authentication Code (MAC) is a cryptographic checksum, calculated using a symmetric algorithm, which is appended to a message and which can be verified by the recipient of the message. The use of MAC is one method of providing the integrity and authentication services, but it is not appropriate for meeting the requirements for no repudiation. Digital Signature A digital signature is a checksum, calculated using the private key of an asymmetric key pair, which is appended to a message and which can be verified by anyone with access to the corresponding public key. The digital signature is dependent on the complete message, so any change to the message will be detected. The real difference between MAC and digital signature is that as well as providing integrity and authentication, the later also provide non-repudiation. Algorithms and Cryptographic Mechanisms The constraint linked with each cryptographic algorithm (computation resources, time to compute, key management, algorithm capability and design†¦) limits their use for only a given number of security services. The following table lists the main security services and states whether RSA or DES (Data Encryption Standard) can address them [Denny, 1998] CONCLUSION The present status of e-banking is not satisfactory in case of virtual banking, call center and SMS banking. But all banks under study have their connectivity with SWIFT channel. Major reason is that secu rity concern. One study in Europe reported that there is 2.6% increase in establishment of Bank branches. That means that E-Banking is declining in Europe. The main concern is security. So, data confidentiality, integrity, proof of origin, peer entity authentication, non-repudiation must be ensured. A few problems have been experienced by the IT heads in the Banks such as withdrawal of money beyond the limit. This has taken place at ATM booths because there is agreement between Banks regarding networking sharing. Gigantic fraud does not take place because there is limit in ATM Debit and Credit card to withdraw money from the booths [Barbara, 1997]