--%>
Assignment Help - homework help

Security in banking operations

Security in banking operations is a major problem in financial institutions all over the world today. The compromise of banking information and data more often than not leads to fraud. Fraud has become quite a challenge for many banks as any slight breach  in the standard operational procedure in the financial institution results in loss of huge monetary assets of the institution in question.

These challenges can be either

(1) Internal – a situation where the culprit, accomplice or both are within the organization 

(2) External - instances that the fraud is completely perpetuated by a person or a group of persons that is/are not part of the said institution.

The application of scientific knowledge for practical purposes in basic banking operational procedures is capable of preventing compromises in data and information handling, machinery and equipment use and management of banking instruments e.g Cheque books, Electronic Cards etc.

   Related Questions in Finance Basics

  • Q : Emergency Banking Act What did the

    What did the Emergency Banking Act do?

    		•
  • Q : What is Change Book System Change Book

    Change Book System: The system the Department of Finance employs to record all the legislative modifications (comprising changes stated by the Administration and approved by the Legislature) made to the Governor's Budget and the last actions on the bu

    		•
  • Q : Absolute and relative sizes of the

    Normal 0 false false

    		•
  • Q : Explain Administration Program Costs

    Administration Program Costs: It is the indirect cost of a program, usually a share of the costs of the administrative units serving the whole department (example, the Director's Office, Personnel, Legal, Accounting, and Business Serv

    		•
  • Q : What is Workload Budget Adjustment

    Workload Budget Adjustment: Any adjustment to the presently authorized budget obligatory to maintain the level of service needed to fund a Workload Budget, as stated in the Government Code Section 13308.05. A workload budget adjustment is as well term

    		•
  • Q : Aggregate expenditure Normal 0 false

    Normal 0 false false

  • Q : Define Spot Bill Spot Bill : It is an

    Spot Bill: It is an introduced bill which makes non-substantive modifications in a law, generally with the intent to amend the bill at a later date to comprise substantive law modifications. This procedure gives a means for circumventing the deadline

    		•
  • Q : Nominal GDP and suitable price index

    Normal 0 false false

  • Q : Explain financial markets Explain

    Explain financial markets? Why do they exist?In financial markets, financial securities are bought and sold. They exist chiefly to bring deficit economic units (those needing money) and surplus economic units (those have extra money) together.

    		•
  • Q : Do mergers result in layoffs Do mergers

    Do mergers result in layoffs?Entire employment in the banking industry in fact has increased slightly over the last ten years. Some mergers do result in layoffs. Though, several banks demolish their staff largely through attrition to ease the tr

    		•