The Ethical Issues In Online Banking Systems Information Technology Essay

This research covers a vast area on the legal, social, professional and ethical issues in information systems. Thus this covers a vast area, starting with the online banking system and electronic cards which are identified as visa and credit cards. Thus this speaks of the pros and cons of online banking systems. First the areas that it covers is spoken and there upon the mobile banking system which is a more modern method is dealt with and this could be regarded as the improvement of technology. Thus this speaks on the fact that how a simple Short message service helps you to know about your bank account. Thus this is seen as a unique aspect of providing electronic cards. There upon the functions of a debit card is spoken upon which is seen like a prepaid card. There upon the prose and cons are spoken on a perspective of areas. The ethical aspect of using these systems is spoken upon which the pros and cons jut out. At this point ethical issue is seen upon morale factors. How a person has the choice to determine the right aspect and the wrong aspect. Theoretical roots are based on the Behavioral view and the physical experimental in the real word. Major differentiation is based on behavior but evaluation can be done using physical world experimental in theoretical roots. The ethical perspective is looked in to and categorized to bring out the ethical perspective in online banking, and an identified area is been discussed on. Then the social and legal areas are looked in to. The social issues are recognized through society and the government of a country. A few issues are being recognized in the social aspect which is dealt in detail. In this area the customer and the governments should play a major role. Both the bank and the customer who uses the service have a responsibility. When taking the research facts in to consideration we can very clearly see the fact that, ethics, society and the legal aspects are interrelated and it is like a circle that is connected to each other. Thus the main issue or the place that issues spring is from the ethical aspect. It is up to each individual to protect another person’s right as we can see it is the individual that breaks it. Thus legal systems are brought in to stop the hampering and let every one use the systems freely and with a freed mind. There are a few points that is brought out in the ethical aspect area, which reflects every issue that has risen up.

Answer: On line banking system and Electronic card (Visa, Credit Card)

Thus this area provides to carry out a very secure transaction via a secured web page. There is no face to face contact with the banking agent. So this takes place via an electronic medium. Thus many activities pertaining to money can be done through this. Even bank transfers are possible.

The On line banking system allows the customer to access in a secure banking website and executes a banking facility via web page. It’s like more facilitate like, Do the online transactions (Ex: Fund transferring Bank to bank), Bill Payment (Ex: Credit card bill) , Apply Loans and settle the monthly rental, can do the investment, check account and take a bank statement, Transaction approval wise provide a more facilities to the customers. In the current technology has improved in the online banking to Mobile banking to word. Because with the customer, who does the online transactions online system automatically generates and send to the SMS to customer mobile phone. And using mobile can do the access of the on line web page and get it to do the as he need.

Electronic card is a unique card as provide by the bank to their customers. The card is making a including programmable chip and card reader it’s a unique for relevant customer. PIN number and the Account number should be bind via central banking server Data base .card is read a bank Automated tailor machines. There is server type of electronic card as provided in to the bank according to the customer requires. It’s like Debit card, and credit card Visa card wise. The type of card should be providing its validity of features. And also card provides mainly which is based on prepaid card (online debit card), postpaid card (online credit card) and smart card wise. In the post paid card have a Credit limit based on the customer. This is deciding by the bank.

In the online banking system and Electronic card is have advantage and disadvantage. In the below perspectives we will discuss the Ethical, social and Legal issues in the online banking system and Electronic card usage.

2.1Ethical Perspective

Before going in to the ethical perspective it is of high importance to define the term ethics. Thus we can take the definition used by the Greeks, “What is good to the individual and there upon how the society can benefit”, thus I believe that this applies to the research topic and is of high relation to the topic. Thus we know the cyber or the internet is used by millions of users, and each individual should and must use it in a responsible manner and not hamper another person’s freedom. Cyber ethics is known as internet ethics. The ethical issues that spring up from an information system is so much and is varied and they should be dealt with much attention and securely.

The ethics is a moral standard as person who’s choice what is Wright or wrong. But not on all choice goes via the ethical once. The people select a choice based on competition. These standards are based on the competing standard and or ethical perspective. These are related to the person’s behavior. In this aspect that ethical perspective is can not be vied in exact way but can be shown as useful interest, other party (friends) interesting, cultural and Legal facts values and Experience.

Theoretical roots are based on the Behavioral view and the physical experimental in the real word. Major differentiation is the Based on behavior but evaluate can be done using physical world experimental in theoretical roots.

In the ethical perspective in online banking implementations and the Electronic card should be categorized in to the as follow

Privacy: this is of the going to base on the information and database wise. In the Persons accounts details should be in the Data base and need to be carefully of the set up the ethical perspective in the banking operators. And need have considered how is the privacy set up need to be created in to the bank responsibility wise.

Ownership: this regards in to the information handling in the banking side Ethically they need to consider it in the information of Accounts, Privacy settings in the Bank Data base, Security system need to be handle even be in to nondisclosure agreement wise

Control the behaviors of the banking System operations employees.

Accuracy: this is important in banking and customers side both. In the ethical perspective Customer need to think it’s down time and potential errors are coming as the using time in the System. Ethically it is a technological issue. But the ban operations wise need to be considering it as fix as soon as possible and minimize the errors and down time.

Security: this is in the online system operators and the bank responsible persons need to be handling in ethically in the password and server information.

In the card issue time need to its PIN number and password and information handle in a very ethical manner.

In the business perspective Environmental ethical issues came in to the customers as used in bank cards and online bank using in outstation.

In the above perspective of information technology Ethical issues as above become in the customer side as well as Employees in banking IT staff. Because they are the persons who get do the Credit care information and Online banking information, according to this need to be maintaining in Code of ethics as follows make a trust of the customers as in the ethical perspective?

Data Based and Server and all data stores handling: this storage has very confidential information’s. The handling of this information in banking staff needs to be sign in the non disclosure agreement. Then need to be proof of the information must be handle in the system in the secure manner.

The Banking Staff need to follow a bank as their self. Need to be maintained well. Need to maintain the integrity of the issues and every time ex: issues in the credit card need to be maintain in the letter for issues in as well.

Confidentiality: the online banking users need to be confidentiality is very high because they always think as security of their account details as well as their transactions. Ex: in the registration time the customer has to sign with a disclosure agreement with the bank. This is important to maintain the relationship with customer and bank.

And in the online banking and Electronic card is a personal valuable. It’s a property of the persons like bank customer based on this need to be activate in the banking IT infrastructure as making a decisions,

It’s Consequences, Wright, duties and based behavior on virtues wise.

Ex: If the consequences as Good it’s ethical. If the consequences are bad it’s unethical.

Finally in the Electronic card and the online bankers need to satisfy as

Freedom of information, Security, Privacy Equity and access, these are important to make a morality of the users on the online banking system and electronic card.

This ethical aspect based on the contractual relationship of Bank and employee. Based on following factors this relationship is build

Personal respects

Legal rights protected by Employee but its couldn’t to use an protect him self

Employee responsible to take claim and everything according to standard.

Work Quality and service quality

Honest working in handling bank data base

And after work hours can’t be penalized by customers (Legal, social, Economy, Civic etc.)

Bank Manager or customer need to talk in gratuitous manner.

Social Perspective

In the social issues are coming to the based on the government and the community as using in on line banking system and electronic card. In the banking or a electronic card information wise face in social issues as,

Privacy and security of the information in to credit card and online banking profile.

Accuracy of the information. This is important in the online banking usage .because if the users become a do an immediate payment need to a very accurate system to execute his expectation. Most of the time socially this issues face in the on line transactions wise.

This is changing the social nature and society. Because in the online payment made a transactions automatically. It’s very fast and robust manner. Socially this efficiency is making a profitability and time saving in the society.

Copyright is another main concern of the online banking system. In the social aspect in the Macro envirment can be analysis using PEST Tool.

The following aspects can be seen in the social perspective:

Commitment: this is not only for the customer. This is bank also or electronic card provider also to be needed to be committed on the all transactions’ and the operation wise. This is making a confidence of the society to doing the online banking fcutionality.

Flexibility: in the bank or an electronic card providers need to make flexibilities. Ex: if the card is misuse in somebody else .if the card holder informed it to bank, bank need to be taking actions of it immediately. It’s a satisfaction of the society. Presence: this is important in the online banking system customers. Because some customers are non technical in that time bank has to be maintaining in a support as their changes wise to customers.

Understanding: this is needed to be in the online bank web page as well as in the ATM machines interface.becuse all the user interfaces should be make in the user-friendly manner. Otherwise customers or a user had a issues in the usage of it.

Finally this social aspects need to be maintain in the trust of the customer or card users with bank.

Ethical and social issues

The above facts brought forth speak about the ethical and social perspective. Thus few points are brought in regard to each area and discussed upon. Thus these two areas encounter a few problems to when dealt together.

As we know the development of technology is the result of what we were discussing above, the way it has been useful and helpful to people, it is creates a lot of issues. As we know this is technology and we see the social and ethical issues arising through the fact that when data is processed in to information, Thus this term of ‘Social and Ethical issues” means that this affects uses directly and indirectly. These issues can variy.For instance the issues can be legal factors which on the other hand be morale factors, thus with the misuse of these information can cause a danger to society. Thus a few identified factors are:

Acknowledgment of data sources.

The freedom of information act

Privacy principals

Accuracy of data and reliability of data sources.

Access to data, ownership and control of data.

New trends in the organization,processing,storage and retrieving of data such as data ware housing

Thus the two are interconnected and both ethical and social perspectives have to be respected when using the electronic media and when connected to areas such as banking. Thus the legal aspect has been brought in to protect every one or else the users from the misuses.

2.4Legal Perspective

In today’s context information is seen as a key to power and prosperity. The development in technology has brought the political and social relationships together or has involved these to aspects, thus which makes the important be focused on the factor how ethical perspective is safe guard in the information systems. As we know so many thousands use the networks which are misused by so many. So due to this factor we can see the necessity of legal systems brought in to protect the rights of the rightful users, which will there for balance the needs and rights of everyone.

As we can see with the improvement and advancement of technology, banking transactions too have become automated and much easier via the online banking system and the electronic cards such as visa cards and debit cards. Thus today we can see this not only has extended towards the online or electronic media but today your bank account can be accessed via the mobile phone. But one must be certain that the transactions are secured. Thus that is why we see many laws have been brought in to secure these services, But there are instances that they are not secured. Legal perspective become protect of the implementation of the ethics in correct way. In the legal aspects make an issue as follows.

Public usage

Liability

Privacy and security

Data and bank server security

Copy wrights

An online system is used by millions of people and this is on a particular web page. There upon this is being used.

Public use means the actual accessibility of the public to use a certain facility. Thus a physical use of the object takes place. In an online banking system this comes on a web page which is been accessed by millions of people. The users might rightfully use the system while another lot might miss use it. At a point like this the bank should have a system to secure the rightful user where upon action should be taken on the one’s who misuse it. Thus a strong legal protection is needed to secure the rightful user and protect him at time of unlawful event. Further more if a person looses his or her credit card and if some one is using it, the bank should have laws to protect the users.

Thus when thousands of people assess a system the individual banks should carry out measures to secure each and every customer. Thus a strong legal background is needed. Also the customer too has a responsibility when assessing the bank account from a cyber cafe, which again is used by many he should know to sign off in the proper manner and be careful to use public WI FI systems.

A liability is a responsibility. If a customer takes a loan he is liable to pay off the debt during a certain time period. On the other hand the Bank too is liable in securing their customers. At this point the online banking systems are liable to secure their customers.

Thus two ways are used to ensure the security: one is a password is given to the customer and one time transaction authorization number for each transaction. Thus this is now secured through a short message service which secures it and no middle man transactions. Thus this can be secured through a legal system.

Literatures provided on this area brings out the factor that the banks does not disclose the account numbers or any other details to on line merchants or other third parties. Thus we can see all net working e-mail systems are secured by an industry standard encryption system. Thus this takes place on a virtual private network. Not through a public internet service. Security and monopoly of the bank is secured through the copy Wright, and there upon no one can hack the system or get information through to the accounts.

Mainly in the government legal aspects need to be focused on the protection of the privacy of the intellectual property and protect the privacy. Thus when we take all the above facts in to consideration we can see the legal aspects brought in to secure the electronic systems .But there is an aspect the government should pay. Strong laws should be brought in against the illegal parties and punishment should be carried out. Thus the clients information can be secured and there trust towards the company shall grow and make them use systems like this if only the system is legally protected.

Conclusions

This research covers the Social, Professional and Ethical Issues in Information Systems.The area that has been brought out in this assignment.

When taking in to consideration on the above facts we can see that ethics,social and the legal aspect are intervowen in this context which relates to the information systems.This does not or can not be focused on to one country but this is a world issue.As we can see technology is developing in every nook and corner of the world.So the people should be protected, from the misuers.The online banking system is looked in to and upon this the toatl research is based and there upon the social,ethical and legal aspects are brought out. It is identified that The On line banking system allows the customer to access in a secure banking website and executes a banking facility via web page, and there again the peoples perspective on this differes along with the society and the governemnt.A major aspect is focused on to the legal side.As we know the on line banking system is a result of the advansment of technology and there upon the customers trusty towards the company or bank shoulod be obtained ,so to do this the system should be secured througha strong legal system.The most importanat aspect to remember the customers at this point are broken away from the conventional system of going to a bank and doing their transactions with a agent.But today it is a medium that does the transaction so they customer has to be secured.Thus the governemnt too should have strong legal aspects to protect the customer and the bank.