Internet Banking

Submitted to:
Ms.Prathyusha Samvedam
Faculty of Law

Submitted by:
Permanika Chuckal
VIIIth Semester
201275

Damodaram Sanjivayya National Law University

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INDEX
ACKNOWLEDGMENT ................................................................................................................3
RESEARCH METHODOLOGY ..................................................................................................4
INTRODUCTION ..........................................................................................................................5
INTERNET BANKING ................................................................................................................6
ADVANTAGES 7
RISKS ...........................................................................................................................................9
PRECAUTIONS FOR INTERNET BANKING USERS ...........................................................11
INDIAN POSITION ....................................................................................................................12
INTERNET BANKING PROBLEMS AND LEGAL REMEDIES ............................................13
CHALLENGES ............................................................................................................................17
CONCLUSION ............................................................................................................................19
BIBLIOGRAPHY .........................................................................................................................20

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ACKNOWLEDGMENT

I would like to express my special appreciation and thanks to my advisor, my Faculty , who has
been a tremendous mentor for me. I would like to thank you for encouraging my research, advice
for the research has been priceless.
I would extend my thanks to the University Authorities, for providing me with is opportunity to
submit my project. I am indebted to all those who have helped me in developing this project for
their suggestion and guidance.

Permanika Chuckal
2012075

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RESEARCH METHODOLOGY

The project is basically based on the doctrinal method of research as no field work is done on
this topic. The whole project is made with the use of secondary source.
AIMS & OBJECTIVES:
The aim of the project is to present a detailed study of INTERNET BANKING through
decisions and suggestions and different writings, articles & reports.
SOURCES OF DATA:
The following secondary sources of data have been used in the project1. Articles
2. Books
3. Websites
METHOD OF WRITING:
The method of writing followed in the course of this research paper is primarily analytical.
MODE OF CITATION:
The researcher has followed a uniform mode of citation throughout the course of this research
paper

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INTRODUCTION
Banking over the Internet has attracted increasing attention from bankers and other financial
services industry participants, the business press, regulators, and law makers. Among the reasons
for Internet banking audience are the notion that electronic banking and payments will grow
rapidly, more or less in tandem with proliferating electronic commerce; industry projections that
Internet banking will cut banks costs, increase banks revenue growth, and make banking more
convenient for customers; and some vexing public policy issues. Despite this attention, there is a
dearth of systematic information on the nature and scope of Internet banking. Bankers and public
policy makers alike have had to plan using largely anecdotal evidence and conjecture.
Banks offer Internet banking in two main ways. An existing bank with physical offices can
establish a Web site and offer Internet banking to its customers as an addition to its traditional
delivery channels. A second alternative is to establish a virtual, branchless, or Internetonly bank. The computer server that lies at the heart of a virtual bank may be housed in an
office that serves as the legal address of such a bank, or at some other location. Virtual banks
may offer their customers the ability to make deposits and withdraw funds via ATMs or other
remote delivery channels owned by other institutions.
Broadly, the levels of banking services offered through INTERNET can be categorized in to
three types: (i) The Basic Level Service is the banks websites which disseminate information on
different products and services offered to customers and members of public in general. It may
receive and reply to customers queries through e-mail, (ii) In the next level are Simple
Transactional Websites which allow customers to submit their instructions, applications for
different services, queries on their account balances, etc, but do not permit any fund-based
transactions on their accounts, (iii) The third level of Internet banking services are offered by
Fully Transactional Websites which allow the customers to operate on their accounts for transfer
of funds, payment of different bills, subscribing to other products of the bank and to transact
purchase and sale of securities, etc. The above forms of Internet banking services are offered by
traditional banks, as an additional method of serving the customer or by new banks, who deliver
banking services primarily through Internet or other electronic delivery channels as the value
added services. Some of these banks are known as ,virtual banks or ,Internet-only banks and may
not have any physical presence in a country despite offering different banking services.
There is no denying the fact that information technology has been the most rapidly changing
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industry in India, and the marriage of technology and banking has to occur for India to keep pace
with changes in the global scenario. Looking back, the Narasimham Committee deserves
mention in that it was instrumental in forcing Indian banks to become competitive. Fleet footed
private sector banks, forced the public sector banks to embrace technology and improve their
level of customer service. Next, the Khan Committee was highly important in that it
recommended the setting up of universal banks. Preference was given to financial institutions,
which could provide a whole range of corporate financial solutions under one roof. But most
importantly, the Verma Committee recommended the need for greater use of IT even in the weak
Public sector banks. Actually, the nationalization of banks back in the 80s is proving to be a
major obstacle in bringing about the required technological changes. Nationalization of the
banking sector has led to occurrences of pseudo developmental activities for nurturing vote
banks, loss of accent on performance and profitability, creation of unions etc to name a few.
INTERNET BANKING
The Internet has revolutionized the computer and communications world like nothing before.
The invention of the telegraph, telephone, radio, and computer set the stage for this
unprecedented integration of capabilities. The Internet is at once a world-wide broadcasting
capability, a mechanism for information dissemination, and a medium for collaboration and
interaction between individuals and their computers without regard for geographic location.
The Internet represents one of the most successful examples of the benefits of sustained
investment and commitment to research and development of information infrastructure.
Beginning with the early research in packet switching, the government, industry and academia
have been partners in evolving and deploying this exciting new technology.
Internet is a vast network of individual computers and computer networks connected to and
communicate with each other using the same communication protocol TCP/IP (Transmission
Control Protocol / Internet Protocol). When two or more computers are connected a network is
created; connecting two or more networks create inter-network or Internet. The Internet, as
commonly understood, is the largest example of such a system. Internet is often and aptly
described as Information Superhighway, a means to reach innumerable potential destinations.
The destination can be any one of the connected networks and host computers.
In 1973, the U.S. Defense Advanced Research Projects Agency (DARPA) initiated a research
program to investigate techniques and technologies for interlinking packet networks of various
kinds. The objective was to develop communication protocols which would allow networked
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computers to communicate transparently across multiple, linked packet networks. This was
called the Internetting project and the system of networks which emerged from the research was
known as the "Internet." The system of protocols which was developed over the course of this
research effort became known as the TCP/IP Protocol Suite, after the two initial protocols
developed: Transmission Control Protocol (TCP) and Internet Protocol (IP).
Though it began in the 1980s, it was only in the mid nineties that internet banking really caught
on. What attracts customers to internet banking is the round the clock availability and ease of
transactions. Studies estimate that internet banking still has a long way to go. There are several
banks that have customers who prefer banking in the traditional ways. Statistics released by the
FDIC show that only 40% of the banks in the U.S. offer internet banking facilities worth
mentioning. All the others may have an online presence but do not have enough online
transactions to justify their presence on the internet.
ADVANTAGES
According to the Internet in India Report 2007 published jointly by the Internet and Mobile
Association of India and IMRB International, the number of internet users in India in the ever
user or claimed user category has touched 46 million in September from 32.2 million in
September 2006. During the same period, the number of active internet users has reached 32
million.
Through Internet banking, we can check our transactions at any time of the day, and as many
times as we want to. Where in a traditional method, we get quarterly statements from the bank. If
the fund transfer has to be made outstation, where the bank does not have a branch, the bank
would demand outstation charges. Whereas with the help of online banking, it will be absolutely
free.
From the perspective of banking products and services being offered through Internet, Internet
banking is nothing more than traditional banking services delivered through an electronic
communication backbone, viz, Internet. But, in the process it has thrown open issues which have
ramifications beyond what a new delivery channel would normally envisage and, hence, has
compelled regulators world over to take note of this emerging channel. Some of the distinctive
features of i-banking are:
1.It removes the traditional geographical barriers as it could reach out to customers of different
countries / legal jurisdiction. This has raised the question of jurisdiction of law / supervisory
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system to which such transactions should be subjected,

2.It has added a new dimension to different kinds of risks traditionally associated with banking,
heightening some of them and throwing new risk control challenges,
3.It poses a strategic risk of loss of business to those banks who do not respond in time, to this
new technology, being the efficient and cost effective delivery mechanism of banking services,
4.A new form of competition has emerged both from the existing players and new players of the
market who are not strictly banks.
Another advantage of Internet banking is that it is cost-effective. Thousands of customers can be
dealt with at once. There is no need to have too many clerks and cashiers. The administrative
work gets reduced drastically with Internet banking. Expenditures on paper slips, forms and even
bank stationery have gone down, which helps raise the profit margin of the bank by a
surprisingly large number.
Rough estimates assume teller cost at Re.1 per transaction, ATM transaction cost at 45 paise,
phone banking at 35 paise, debit cards at 20 paise and Internet banking at 10 paise per
transaction. Fully computerized banks, with better management of their customer base are in a
stronger position to cross-sell their products through this channel.
As far as customers are concerned, their account information is available round the clock,
regardless of their location. They can reschedule their future payments from their bank account
while sitting thousands of miles away. They can electronically transfer money from their bank
accounts or receive money in their bank accounts within seconds.
Bill payment service
One can facilitate payment of electricity and telephone bills, mobile phone, credit card and
insurance premium bills as each bank has tie-ups with various utility companies, service
providers and insurance companies, across the country. To pay bills, all one need to do is
complete a simple one-time registration for each biller. One can also set up standing instructions
online to pay his recurring bills, automatically. Generally, the bank does not charge customers for
online bill payment.
Fund transfer
One can transfer any amount from one account to another of the same or any another bank.
Customers can send money anywhere in India. Once one login to his account, he need to mention
the payees's account number, his bank and the branch. The transfer will take place in a day or so,
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whereas in a traditional method, it takes about three working days.

Credit card customers
With Internet banking, customers can not only pay their credit card bills online but also get a
loan on their cards. If one loses his credit card, he can report lost card online.
Investing through Internet banking
One can now open an FD online through funds transfer. Now investors with interlinked demat
account and bank account can easily trade in the stock market and the amount will be
automatically debited from their respective bank accounts and the shares will be credited in their
demat account. Moreover, some banks even give one the facility to purchase mutual funds
directly from the online banking system.
Nowadays, most leading banks offer both online banking and demat account. However if one has
his demat account with independent share brokers, then he need to sign a special form, which
will link his two accounts.
Shopping
With a range of all kind of products, one can shop online and the payment is also made
conveniently through ones account. One can also buy railway and air tickets through Internet
banking.

RISKS
One of the biggest attractions of Internet as an electronic medium is its openness and freedom. It
is a public domain and there is no restriction on who can use it as long as one adheres to its
technical parameters.
Internet is not an unmixed blessing to the banking sector. Along with reduction in cost of
transactions, it has also brought about a new orientation to risks and even new forms of risks to
which banks conducting i-banking expose themselves. Regulators and supervisors all over the
world are concerned that while banks should remain efficient and cost effective, they must be
conscious of different types of risks this form of banking entails and have systems in place to
manage the same. An important and distinctive feature is that technology plays a significant part
both as source and tool for control of risks. Because of rapid changes in information technology,
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there is no finality either in the types of risks or their control measures. Both evolve
continuously.
Operational risk, also referred to as transactional risk is the most common form of risk associated
with i-banking. It takes the form of inaccurate processing of transactions, non enforceability of
contracts, compromises in data integrity, data privacy and confidentiality, unauthorized access /
intrusion to banks systems and transactions etc. Such risks can arise out of weaknesses in
design, implementation and monitoring of banks information system. Besides inadequacies in
technology, human factors like negligence by customers and employees, fraudulent activity of
employees and crackers / hackers etc. can become potential source of operational risk. Often
there is thin line of difference between operational risk and security risk and both terminologies
are used interchangeably.
Security risk arises on account of unauthorized access to a banks critical information stores like
accounting system, risk management system, portfolio management system, etc. A breach of
security could result in direct financial loss to the bank. For example, hackers operating via the
Internet, could access, retrieve and use confidential customer information and also can implant
virus. This may result in loss of data, theft of or tampering with customer information, disabling
of a significant portion of banks internal computer system thus denying service, cost of repairing
these etc. Other related risks are loss of reputation, infringing customers privacy and its legal
implications etc. Thus, access control is of paramount importance. Controlling access to banks
system has become more complex in the Internet environment which is a public domain and
attempts at unauthorized access could emanate from any source and from anywhere in the world
with or without criminal intent. Attackers could be hackers, unscrupulous vendors, disgruntled
employees or even pure thrill seekers. Also, in a networked environment the security is limited to
its weakest link. It is therefore, necessary that banks critically assess all interrelated systems and
have access control measures in place in each of them.
As Internet banking transactions are conducted remotely banks may find it difficult to apply
traditional method for detecting and preventing undesirable criminal activities. Application of
money laundering rules may also be inappropriate for some forms of electronic payments. Thus
banks expose themselves to the money laundering risk. This may result in legal sanctions for
non-compliance with 'know your customer' laws.

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PRECAUTIONS FOR INTERNET BANKING USERS

Here are some precautions to follow while Internet banking to avoid misuse of their accounts:
One should log out from a banks website using the set procedure especially while working on a
public computer or over a non secured wireless connection.
Keep changing the password at regular intervals.
Try to memorize the username and password for your Internet account instead of writing it.
Never furnish any sensitive information through an email claiming to be from a bank and never
go to any hyperlink directed from a site and give any sensitive information.
The growing fraud in Internet banking can be checked if the regulatory agencies like the Reserve
Bank of India, service providers such as banks and ISPs, and customers themselves are more
alert. Laws have to be made stricter to ensure that banks comply with implementing the
necessary security systems and there is a need for stricter punishment for people committing
cyber crimes.

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INDIAN POSITION
The Indian banks record in Internet banking is nothing much to write about.
Nearly all banks operating in India offer Internet banking services, wherein every customer is
given a unique user name and password. Customers can use these details to log on to their
accounts to carry out any transaction. The bank keeps a record of all online transactions of a
customer.
Although most banks claim to have a multi-layered security architecture comprising firewalls,
filtering routers, encryption and digital certification to protect unauthorized access to their
customer accounts, hacking has become a major problem.The ICICI Bank kicked off online
banking in 1996, followed by a host of other banks. But even for the Internet as a whole, 1996 to
1998 marked the adoption phase, while usage increased only in 1999, owing to lower ISP online
charges, increased PC penetration and a tech-friendly atmosphere.
On the other hand, the Public Sector Banks (PSUs) lagged in the race for adopting Internet
banking practices. While, among the PSUs, the State Bank of India took the lead, others are yet
to catch up on Internet banking services.
Some banks blame it on the lack of regulations and procedures to go online. But, not many are
willing to buy the argument. More than a lack of regulatory framework, it is a lack of zeal and a
mindset attuned towards resisting any new technology that is holding back the nationalized
banks.
Internet banking is an extension of traditional banking services. However, there are several
instances, which contradict the legal framework for internet banking in India: Banking
Regulations Act, 1949, the Reserve Bank of India Act, 1934 and the Foreign Exchange
Management Act, 1999.
The Information Technology Act 2000 attempted to address a number of e-commerce regulatory
issues. Many feel that grey areas still exist, which have neither been spelt out properly nor any
workable modes of implementation suggested by Constitutional institutions.
The IT Act of 2000 did address the need for banks to go online and have laid out security
measures to be adopted. However, one cannot say the aspirations of the industry have been
satisfactorily looked into.
The Reserve Bank of India has taken several initiatives in setting guidelines for internet banking,
and reviews them at periodic intervals. Most important, RBI approval was made mandatory for
all banks before offering any transactional services over the Internet. This was however shelved,
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giving banks more autonomy on the online space, though ensuring at the same time, that it would
be strictly under the provisions of the RBI.
Earlier, the RBI had adopted the recommendations of the Working Group on Internet Banking,
which examined three thrust areas such as Technology and security issues, legal issues and
regulatory and supervisory issue.

INTERNET BANKING PROBLEMS AND LEGAL REMEDIES

A major problem for banks and Internet banking users, Phishing is an art of tricking someone
into giving confidential information and fraudulently acquiring their sensitive information like
passwords and credit card details. The IT Act 2000, however, does not specifically define
phishing as an offence and thus the law enforcement authorities have to take recourse to the
generic provisions of cheating and criminal breach of trust under the Indian Penal Code.
Due to the lack of adequate legal provisions for dealing with growing cyber crimes, banks are
working towards intimating net users about e-security. SMS alerts are used to inform customers
promptly about their online transactions. Banks have also put in place security measures, as
outlined by the Reserve Bank of India in its guidelines for Internet banking. The guidelines talk
about the risks associated with Internet banking, technology and security standards, legal issues
involved, and regulatory and supervisory concerns. The RBI is empowered to audit the
compliance of the Internet banking policy outlined by it.
The banks providing Internet banking service, at present are only accepting the request for
opening of accounts. The accounts are opened only after proper physical introduction and
verification. Considering the legal position prevalent, particularly of Section 131 of the
Negotiable Instruments Act, 1881 and different case laws, the Group holds the view that there is
an obligation on the banks not only to establish the identity but also to make enquiries about
integrity and reputation of the prospective customer. The Group, therefore, endorses the present
practice but has suggested that after coming in to force of the Information Technology Act, 2000
and digital certification machinery being in place, it may be possible for the banks to rely on
digital signature of the introducer.
The present legal regime does not set out the parameters as to the extent to which a person can
be bound in respect of an electronic instruction purported to have been issued by him. Generally
authentication is achieved by security procedure, which involves methods and devices like userid, password, personal identification number (PIN), code numbers and encryption etc., used to
establish authenticity of an instruction. However, from a legal perspective a security procedure
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needs to be recognized by law as a substitute for signature. In India, the Information Technology
Act, 2000, in Section 3(2) provides for a particular technology (viz., the asymmetric crypto
system and hash function) as a means of authenticating electronic record. This has raised the
doubt whether the law would recognize the existing methods used by banks as valid methods of
authentication. The Group holds the view that as in case of other countries, the law should be
technology neutral.
In keeping with the view that law should be technology neutral, the Group has recommended that
Section 3(2) of the Information Technology Act, 2000 needs to be amended to provide that in
addition to the procedure prescribed there in or that may be prescribed by the Central
government, a security procedure mutually agreed to by the concerned parties should be
recognized as a valid method of authentication of an electronic document / transaction during the
transition period.
Banks may be allowed to apply for a license to issue digital signature certificate under Section 21
of the Information Technology Act, 2000 and function as certifying authority for facilitating
Internet banking. Reserve Bank of India may recommend to Central Government for notifying
the business of certifying authority as an approved activity under clause (o) of Section 6(1) of the
Banking Regulations Act, 1949.
Section 40A(3) of the Income Tax Act, 1961 recognizes only payments through a crossed cheque
or crossed bank draft, where such payment exceeds Rs. 20000/-, for the purpose of deductible
expenses. Since the primary intention of the above provision, which is to prevent tax evasion by
ensuring transfer of funds through identified accounts, is also satisfied in case of electronic
transfer of funds between accounts, such transfers should also be recognized under the above
provision. The Income Tax Act, 1961 should be amended suitably.
Under the present regime there is an obligation on banks to maintain secrecy and confidentiality
of customers account. In the Internet banking scenario, the risk of banks not meeting the above
obligation is high on account of several factors like customers not being careful about their
passwords, PIN and other personal identification details and divulging the same to others, banks
sites being hacked despite all precautions and information accessed by inadvertent finders. Banks
offering Internet banking are taking all reasonable security measures like SSL access, 128 bit
encryption, firewalls and other net security devices, etc. The Group is of the view that despite all
reasonable precautions, banks will be exposed to enhanced risk of liability to customers on
account of breach of secrecy, denial of service etc., because of hacking/ other technological
failures. The banks should, therefore, institute adequate risk control measures to manage such
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risk.
In Internet banking scenario there is very little scope for the banks to act on stop-payment
instructions from the customers. Hence, banks should clearly notify to the customers the
timeframe and the circumstances in which any stop-payment instructions could be accepted.
The banks providing Internet banking service and customers availing of the same are currently
entering into agreements defining respective rights and liabilities in respect of Internet banking
transactions. A standard format / minimum consent requirement to be adopted by banks may be
designed by the Indian Banks Association, which should capture all essential conditions to be
fulfilled by the banks, the customers and relative rights and liabilities arising there from. This
will help in standardizing documentation as also develop standard practice among bankers
offering Internet banking facility.
The concern that Internet banking transactions may become a conduit for money laundering, has
been addressed by the Group. Such transactions are initiated and concluded between designated
accounts. Further, the proposed Prevention of Money Laundering Bill 1999 imposes obligation
on every banking company to maintain records of transactions for certain prescribed period. The
Banking Companies (Period of Preservation of Records) Rules, 1985 also require banks to
preserve certain records for a period ranging between 5 to 8 years. The Group is of the view that
these legal provisions which are applicable to all banking transactions, whether Internet banking
or traditional banking, will adequately take care of this concern and no specific measures for
Internet banking is necessary.
The Consumer Protection Act, 1986 defines the rights of consumers in India and is applicable to
banking services as well. Currently, the rights and liabilities of customers availing of internet.
banking services are being determined by bilateral agreements between the banks and customers.
It is open to debate whether any bilateral agreement defining customers rights and liabilities,
which are adverse to consumers than what is enjoyed by them in the traditional banking scenario
will be legally tenable. Considering the banking practice and rights enjoyed by customers in
traditional banking, it appears the banks providing I-banking may not absolve themselves from
liability to the customers on account of unauthorized transfer through hacking. Similar position
may obtain in case of denial of service. Even though, The Information Technology Act, 2000 has
provided for penalty for denial of access to a computer system (Section-43) and hacking (Section
66), the liability of banks in such situations is not clear. The Group was of the view that the
banks providing Internet banking may assess the risk and insure themselves against such risks.
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The Information Technology Act, 2000, in Section 72 has provided for penalty for breach of
privacy and confidentiality. Further, Section 79 of the Act has also provided for exclusion of
liability of a network service provider for data traveling through their network subject to certain
conditions. Thus, the liability of banks for breach of privacy when data is traveling through
network is not clear. This aspect needs detailed legal examination. The issue of ownership of
transactional data stored in banks computer systems also needs further examination.

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Regulatory and Supervisory Issues:

All banks, which propose to offer transactional services on the Internet, should obtain approval
from RBI prior to commencing these services. Banks application for such permission should
indicate its business plan, analysis of cost and benefit, operational arrangements like technology
adopted, business partners and third party service providers and systems and control procedures
the bank proposes to adopt for managing risks, etc. The bank should also submit a security policy
covering recommendations made in chapter-6 of this report and a certificate from an independent
auditor that the minimum requirements prescribed there have been met. After the initial approval
the banks will be obliged to inform RBI any material changes in the services / products offered
by them.
RBI may require banks to periodically obtain certificates from specialist external auditors
certifying their security control and procedures. The banks will report to RBI every breach or
failure of security systems and procedure and the latter, at its discretion, may decide to
commission special audit / inspection of such banks.
Banking has become a process of choice and convenience; better the service, customers tend to
bank, and vice-versa, and Internet Banking is vital for both the industry and the customer.
The future of banking would be in terms of integration, as people will have less time for banking.
People will want to process more transactions on the Internet. There will be more activity in
terms of applications and services on the mobile. Geography will not be an inhibitor any more as
everything is executable on the net.
CHALLENGES
In the Internet banking system, information is considered as an asset and so worthy of protection.
However, the present system of authentication does not address the security aspect in full. This
calls for an urgent need to acclimatize the whole system.
According to Online Banking Association, member institutions rated security as the most
important issue of online banking. There is a dual requirement to protect customers' privacy and
protection against fraud.
Another major issue is that of Data Protection and the need for a legal and regulatory framework.
Information security in e-banking presents two main areas of risk: preventing unauthorized
transactions and maintaining integrity of customers transactions. Data protection falls in the
latter. Data protection laws primarily aim to safeguard the interest of the individual whose data is
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handled and processed by others. Interests are usually expressed in terms of privacy, autonomy
and/or integrity.
The Internet and its underlying technologies will change and transform not just banking, but also
all aspects of finance and commerce. It represents much more than a new distribution
opportunity. It will enable nimble players to leverage their brick and mortar presence to improve
customer satisfaction and gain share. It will force lethargic players who are struck with legacy
cost basis, out of business since they are unable to bring to play in the new context

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CONCLUSION
Internet banking is a facility that allows a person to access his bank accounts from anywhere,
using the Internet. While it offers the benefits of fast transactions, reduced costs and anytime,
anywhere facilities, it is also prone to certain hazards. For instance, Internet banking leaves
an account holder vulnerable to hacking of personal information.
The misuse of Internet amounts to cyber-crime, and India too has been witnessing a sharp
increase in cyber-crimes in the recent years. The Cyber Law of India, provided in the
Information Technology Act, 2000, is, however, silent on prevailing problems such as
Phishing.

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BIBLIOGRAPHY
Articles:
Internet Banking - Legal Issues http://rajdeepandjoyeeta.com/internet-banking.html
Internet Banking and Indian Laws
http://www.lawisgreek.com/category/corporate- laws/banking
Books:
Boni, K.; Tsekeris,C. (2007): Electronic Banking, in Ritzer, G. (ed.),
Blackwell Encyclopedia of Sociology, Blackwell Reference Online.
Gandy, T. (1995): Banking in e-space, The banker, 145 (838), pp. 7476.
Tan, M.; Teo, T. S. (2000): Factors influencing the adoption of Internet banking,
Journal of the Association for Information Systems, 1 (5), pp. 142.
Online Search:
Cronin, Mary J. (1997). Banking and Finance on the Internet, John Wiley and Sons.
ISBN 0471292192 page 41 from Banking and Finance on the Internet. Retrieved
2012-04-10..
"Computer Giants Giving a Major Boost to Increased Use of Corporate Videotex".
Communications News. 1984. Retrieved 2012-04-10.
Security Flaws in Online Banking Sites Found to be Widespread Newswise,
Retrieved on March 23, 2012.
"The Home Banking Dilemma". Retrieved 2012-04-10.

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