Legal Ethical and Regulatory Issues - 1479 Words

Legal, Ethical Regulatory Issues The online banking industry is a growing and a continually evolving business. This paper will identify and describes the legal, ethical, and regulatory issues that impact online banking the Websites. Business ethics examines ethical rules and principles within a commercial context involved in e-commerce are faced with the same if not more legal issues as any other business; these issues include, but are not limited to jurisdiction, contract, and legitimacy in the banking. Banks such as Wells Fargo, Wachovia, and Bank of America using Websites to conduct electronic commerce should adhere to the same ethical standards that other businesses follow. (Schneider, 2004). Ethics play an integral role†¦show more content†¦These hackers threaten our security and confidentiality every day by getting unauthorized access and stealing our most valuable or sensitive information. Privacy and security concerns are not unique to the bank industry; they are spread to personal information such as health or employment, and other e-commerce transactions. The protection of this information has to be ensured by the company or bank in order for customers to continue the relationship with such. The bank industry is a pioneer in handling security and confidential information of customers. By protecting their customers they protect themselves as well. Bank of America, Wachovia and Wells Fargo banks are very careful with the information and security management protecting it is their main goal and commitment as they all express it in their websites and in the face to face banks. The banks try to provide the best service in every aspect and they assure customers their responsibility toward the protection of the customer accounts going beyond their face to face business, it is maintained over the phone and online as well. Bank of America, Wachovia, and Wells Fargo guarantee online security, in the case a customer reports fraud within 60 days of the incident, the bank compromises in refunding 100% of the amount to the bank account. The security of the consumers depends on the consumers as well, they expect customers to take some steps to prevent fraud like protecting passwords, installing aShow MoreRelatedLegal, Regulatory, and Ethical Issues2778 Words   |  12 Pages1. What are the 5 hottest topics today involving legal, regulatory and ethical issues impacting on operating a B2C ebusiness? ECommerce has revolutionized the business world by expanding the marketplace and redefining the traditional organizational structure. Its economic influence has been considerable resulting in implications for politics, society and ethics. The future for eBusiness is bright. It will continue its rapid expansion and may eventually take over from traditional business practicesRead MoreOnline Ethical, Legal, And Regulatory Issues In B2B Versus B2C1012 Words   |  5 PagesOnline Ethical, Legal, and Regulatory Issues in B2B versus B2C Introduction Companies doing business on the Web must be certain of their ability to manage the liabilities that can emerge as a result of todays online business environment. This environment includes laws and ethical factors that are sometimes different from those in the brick and mortar setting. The online environment often forms a network of customers who can have considerable levels of communication with each other. Online businessesRead MoreDifferences in Ethical, Legal, Regulatory Issues in B2B vs. B2C Environment1309 Words   |  6 PagesDifferences in Ethical, Legal, and Regulatory Issues in Business-to-Business and Business-to-Consumer Web Sites Like traditional brick-and-mortar establishments, business-to-business (B2B) and business-to-consumer (B2C) Web sites face ethical, legal, and regulatory concerns. Although both B2B and B2C sites share similarities in web-based jurisdictional issues and general ethical considerations, each site has its own specific concerns due to the end-user relationship of the consumer versus businessRead MoreB2B vs B2C Legal Ethical And Regulatory Essay890 Words   |  4 PagesB2C versus B2B Legal, Ethical and Regulatory Bob Holland EBUS/400 Milind Modi April 28, 2010 B2C versus B2B Legal, Ethical and Regulatory This analysis will provide the reader with information that explains how legal, ethical and regulatory issues differ on a B2C website compared to a B2B website. The analysis will examine these different elements and will describe the differences and the similarities. Overview The primary differences of a B2C and B2B website when discussingRead MoreThe Relationship Between Solicitors And Society1562 Words   |  7 Pagesits vast framework, acting as a voice for the people. In this sense, it is undeniable that the legal profession exists to serve society as well as the court. Because of the nature of this relationship the conduct of solicitors is paramount in ensuring that public trust is maintained in the services solicitors offer. This has resulted in the public expectation that solicitors conduct themselves in an ethical manner. When describing conduct, there are many possible definitions of ethics. In the oxfordRead MoreThe Data Protection Act Of The World Of Sales1684 Words   |  7 PagesIn the world of sales there are a lot of legal requirements that have to be met in order to deliver a fair but efficient service. This can come under many things that will aid in a lot of customers being kept happy and being safe. One of the most famous of these is the Data Protection Act. The purpose of this act is to ensure that the information of customers is kept safe and isn’t openly accessible to just anyone. This isn’t just to protect the customers but is also to protect the business. TheRead MoreCyber Security And The Internet Essay1696 Words   |  7 Pagesassociated with the cyberspace, among which is majorly cyber security. Recently the hackers’ activity has really skyrocketed and has become a major concern for organizations, states and federal governments and even international organiza tions. Several regulatory schemes are put in place to mitigate the activities of hackers across the globe. General Group General group was founded in Berlin in 1831 and has grown to be a major player in the banking, finance service/ insurance sector. The group’s operationRead MorePatient Care And Lower Medicare Program Essay1395 Words   |  6 Pagesnot reimburse hospital with 30 day readmissions Medicare Hosptial Readmissions Reduction Program: To improve care and lower costs. Medicare imposes a financial penalty on hospitals with excess readmissions for heart failure patients. What’s The Issue? Policy makers are constantly searching for new innovative ways to increase quality patient care and lower Medicare program spending. One indicator of inadequate quality that results in increased Medicare spending is the rate of readmissions to theRead MoreLegal And Regulatory Environments And Ethics1712 Words   |  7 Pages1. Title: legal and Regulatory Environments and Ethics: Essential Components of a Fraud and Forensic Accounting Curriculum Forensic accounting is defined as the action of identifying, recording, settling, extracting, sorting, reporting, and verifying past financial data or other accounting activities for settling current or prospective legal disputes or using such past financial data for projecting future financial data to settle legal disputes. Forensic accountant are very important part of theRead MoreLegal And Ethical Issues Of Mergers And Mergers1085 Words   |  5 PagesHostile takeovers are no longer common as they were in the 1980s. However, legal and ethical issues still surround mergers and takeovers (Thomas, 2009). This document examines and identifies legal and ethical issues which the merging parties should consider before, during and after a merger. The document will also look at measures of managing these legal and ethical issues. Pikula (1999) observes that in merging two or more entities, the management of the companies must adhere to the Sherman Anti-trust