Risks of Internet Banking vis a vis Consumer Protection in Malaysia (An Abstract)

By: Sonny Zulhuda *

Like other ICT inventions that promise both unprecedented benefits and scaring risks, Internet banking has been received by both excitement and worries. While it offers high level of effectiveness such as online fund transfer as easy as from customers’ home desktop, it also haunts many as reflected in incidents involving theft of personal access code, tracing of online footprints and intrusion of online activities of other customers.

In Malaysia, Internet banking is still at its infancy though the number of service providers is increasing. Unfortunately, some crucial areas are left unclear for Internet banking consumers. This includes issues of distribution of liability between Internet banking stakeholders, use of personal data of bank customers, and low level of consumer protection provided by Internet banking operators. Furthermore, serious risks are awaiting consumers since the country’s consumer protection law statute is not applicable to commercial activities effected by information and communications technologies (ICT).

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E-Business and Privacy: Total Strangers or Marriage Made in Heaven? (An Abstract)

By: Sonny Zulhuda *

The information economy derives its name from the fact that information has become a powerful source of wealth for today’s corporations. Understandably there comes the rising demand to ensure this promised wealth is not unnecessarily missed. For this, today’s corporate world witnesses a great evolution in terms of the way they run the business by adopting the advantage of information and communications technologies (ICT). These tools have been increasingly exploited in order to secure the wealth as promised by the information age.

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