Call for the reduction of electronic financial crimes
08/4/2018 12:00 am
In conjunction with the expansion of financial and banking services
Baghdad / Hussein Thugb
The growth and sophistication of the technical and electronic system in the financial and banking sector has increased the volume of banking operations, accompanied by the expansion of the electronic manipulation of this sector, where the manipulators are developing their methods according to the development of this new technology, which created new challenges for banks and regulators .
"Financial financial crimes are one of the challenges facing banks, which requires the creation of sound policies and procedures through the development of e-banking risk management and combating electronic financial crimes," said Ali Thamer Al Waeli. Comprehensive risk management and he pointed out that " the face of these challenges requires hard work to reduce these risks, which entails significant responsibilities to confront them through the adoption of a comprehensive risk management to identify these risks and reduce them through regulatory means and to develop appropriate practical policies to address them , which was adopted by the European recommendation 1988 in the responsibility of the financial institution to bear the risk "
Article 71 of European Recommendation 88/11/1 on the relationship between electronic money issuers and consumers states that the bank is responsible to the consumer for the consequences of non-execution or improper execution of the operations specified in Article 1 of this Agreement, especially if such transactions are carried out through an electronic device The bank controls it directly or individually. Electronic payment means and between Waeli that " the banking business mail is one of the things that brought about the great technological development in the field of communications and information technology, where the development of new means of payment are appropriate to the nature and requirements of e - commerce, as it led to the emergence of new opportunities for business banks in achieving a competitive advantage, As well as providing new marketing opportunities, widespread distribution to achieve long-term profitability, and improving the quality of banking service. " Information Security
"The many benefits offered by e-banking remain fraught with many risks, as there is a close correlation between e-processes and information security that can lead to tampering with customers' own balances, or (e-payment) Legitimate ". Technological Diversity Electronic banking operations in the financial sector represent a range of diverse banking services that are created and advanced by the banking system, electronic media and other diverse technological media. In accordance with the new global electronic development that has been reflected in all areas of life, A major player in the banking sector, which is now relying on electronic operations to facilitate customer services. " Financial inclusion
Moreover, the traditional financial institutions are obliged to accelerate the development and modernization of banking services, in line with the principle of financial coverage at the current stage. It requires the administrative and supervisory authorities to prepare, train and qualify employees to deal with these electronic banking systems.
"The rapid growth of information and communication technology has led to the emergence of fundamental changes in the world, both in terms of business and personal life of the general public or the nature of banking and financial in itself, which contribute to the implementation of financial and banking operations more quickly and at a lower cost."
He continued: "The importance of modern banking technology systems in the efficiency of services provided according to indicators of the most important speed: where the information is saved and retrieved very quickly, and accuracy: These systems reduce the incidence of errors and the provision of effort: They need less effort than traditional hand systems, The amount of information: systems have the ability to save large amounts of information and data more than
"As a result, this significant development in the field of electronic banking requires serious work to reduce the risks of fraud and electronic financial crimes through the development of regulatory systems and continuously updated from my iPhone
[You must be registered and logged in to see this link.]