Preventing Technology Based Bank Frauds
V. Radha, Ved Prakash Gulati · The Journal of Internet Banking and Commerce · 2004
New technology always brought some more fraudulent criminal activities developed around these technologies. Ex: Photocopiers, fax machines, credit cards, and mobile phones, ATMs, PCs and now Internet. By the time the regulatory bodies, law enforcement agencies etc take preventive measures to cope up with the present environment and it gets stabilized, either the environment itself changes or some more new elements like new technology emerges making the criminals find a new home and commit fraud. So prevention is basically a cycle of monitor, analyse, detect, act and protect. In this paper we discuss about the technology based opportunities that thieves take advantage and its prevention and how to build future technology based banking services that can limit the frauds.