Journal of Internet Banking and Commerce
Vol. 9 No. 3, December 2004
http://www.ARRAYdev.com/commerce/JIBC/current.asp


========================
From JIBC Publisher Nahum Goldmann and Editor-in-Chief Gord Jenkins
http://www.arraydev.com/commerce/jibc/0412-edit.HTM
========================

Once again we start from the most important by asking each and every one of you,
our readers and subscribers, to email JIBC to at least three of your colleagues,
friends and discussion groups that you are participating at, and recommend that
they also subscribe!

As well, we are challenging all the current and past authors and editors to
email your articles along with the rest of JIBC edition to at least 10 of your
peers and colleagues in academia, government and industry. Make sure they are
aware of your articles and the Journal of Internet Banking and Commerce!
Recommend that they also subscribe.

***

This issue is especially professionally mature and conceptually interesting. As
usual, we have a number of articles from all over the world. Most of them are
providing a highly desirable mix of quantitative analysis and qualitative
conclusions. All are highly applicable to the emerging areas of Internet
commerce, banking and governance, as well as marketing, law, procurement and
security/privacy.

In the future issues of JIBC we would like to maintain the momentum of edgy
results that characterizes this publication. At the same time we want to see
more of the overviews and surveys on the global situation with Internet commerce
and banking. Please send us brief lists and reviews of world-leading ecommerce,
e-governance and IP-law academic programs. Send us articles on the activities of
academic and applied research groups and on industrial, public and voluntary
sectors' innovation teams that you are familiar with or participate at,
especially as it relates to ecommerce issues. Feel free to involve any expert
on this exciting subject anywhere in the world. Challenge them to write for
JIBC.

Both the JIBC Publisher and Editor-in-Chief would like to use this occasion to
thanks again our authors, our volunteer contributing editors and, especially,
Assistant Editor Xin "Robert" Luo who despite his busy educational schedule
found time to manage placing of new articles on JIBC Web site, as well as
Mailing List Managing Editor Anne-Marie Jennings who for the last 18 months is
successfully managing our Yahoo mailing list. Your dedicated effort is much
appreciated!

***

Let's spread the word!


========================
Urgent Message from India Contributing Editor Nikhil Agarwal:
How can you help Tsunami Victims?
========================

Millions of people around the Indian Ocean are scrambling for food and clean
water, with the threat of disease now stalking survivors of the most devastating
tsunami on record.

The official death toll soared to nearly 80,000 on Thursday, but the true scale
of the disaster may not be known for days, or even weeks, as rescuers struggled
to reach stricken areas and grieving survivors searched for relatives.

"I would not be at all surprised that we will be on 100,000 (deaths) when we
know what has happened on the (Indian) Andaman and Nicobar islands," Peter Rees
of the International Federation of Red Cross and Red Crescent Societies (IFRCS)
said.

Countries around the world sent rescue teams, food and millions of dollars in
aid to the hardest-hit nations of Indonesia, Sri Lanka, India and Thailand to
cope with the aftermath of the century's worst natural disaster.

Thousands of bodies rotting in the tropical sun were tumbled into mass graves.
Contaminated water, ruptured sewage systems and mosquito-borne diseases now
stalk those who survived the monster wave on Sunday, triggered by a 9.0
magnitude underwater quake off the Indonesian island of Sumatra.

"Perhaps as many as 5 million people are not able to access what they need for
living," David Nabarro, who heads the World Health Organisation's health crisis
team, told Reuters. "Either they cannot get water, or their sanitation is
inadequate or they cannot get food."

We appeal to the citizens of the world to HELP the people in NEED. Make this New
Year 'Happy' for those, who want food, water and living. Imagine surviving
without basic necessities, without a family. Professors., staff and students of
our college has decided to give away one week salary to relief fund. Your little
help can make the difference. Contribute generously.

You can send your cheques / drafts in any currencies in favour of "RELIEF FUND
FOR TSUNAMI VICTIMS" payable at New Delhi, India. Kindly send your contribution
to the following address:

Relief Fund For Tsunami Victims
c/o Prof. Nikhil Agarwal
R - 7/22, Rajnagar
Ghaziabad 201001
INDIA
Ph: +91-9810216826

PS: Kindly forward and circulate this email to your friends and organization all
over. Remember each and every penny will make a difference to the millions of
people who are fighting to LIVE.
--
Nikhil Agarwal
Assistant Professor,
Institute of Management Technology (IMT),
INDIA
<nikhil.jibc@...>
#+91-9810216826,9850391092
/---------------------ADVERTISEMENT -------------------\

CALL FOR PAPERS :3rd International Finance Conference, IFC
3-5 March 2005, Hammamet, Tunisia
You are encouraged to submit papers in all areas of accounting, banking control
and supervision, finance, management, financial economics, Internet and new
economy, corporate finance, accounting and auditing, financial markets,
investment and financing problems, emerging markets, derivatives, real options,
portfolio theory, macro-economics and finance, international finance,
international trade, techniques in international trade, international taxation,
mathematical finance, econometric issues, statistics, electronic payment,
Internet banking, finance and the new economy, financial liberalization and
innovation, transition economies and their problems, open economic issues,
foreign direct and portfolio investment, e-commerce, etc. Electronic
Submissions should be sent as an e-mail attachment (pdf, rft or doc file) to
contact@.... Selected papers can be published in the International Journal
of Finance, the Journal of Internet Banking and Commerce and Revue du financier.

\---------------------ADVERTISEMENT -------------------/


========================
REGULAR CONTRIBUTORS
========================

UNITED KINGDOM: Identity Cards and Financial Services: How Will the
Introduction of ID
Cards Affect Financial Services Providers?
(By Dave Birch)
http://www.arraydev.com/commerce/jibc/2004-12/birch.htm

It is clear that without significant change the identity problem will only get
worse. In a recent US case, what the authorities there call the biggest case of
identity theft ever, just two men orchestrated an identity fraud that hit 30,000
Americans and netted $50 million. The financial services sector is at the
forefront of the fight. More than half of all identity fraud in the US relates
to banking and, as the fraudsters become more widespread and more wise, banks
and other financial services providers will find more and more of their
resources being tied up by identity problems of all kinds. The problem of
identity and identity management can only increase in priority and trying to
solve it by asking customers to remember more and more passwords is a waste of
time.

MALAYSIA: Wavs of Multimedia Banking Development
(By VP.Vijayan, Vignesen Perumal and Bala Shanmugam)
http://www.arraydev.com/commerce/jibc/2004-12/Vijayan.HTM

This exploratory study on the rise of multimedia banking highlights the 'waves'
of development experienced by the banking industry, the initial step being the
ATM wave, followed by the PC wave and finally the E-cash wave all of which have
revolutionized the banking industry. In addition, the opportunities and threats
for banks as a result of new technology are examined as well as the existing
remedies to these threats.

MALAYSIA: Internet Banking: Boon or Bane?
(By Vignesen Perumal and Bala Shanmugam)
http://www.arraydev.com/commerce/jibc/2004-12/Perumal.HTM

There is little doubt that the Internet has revolutionized the entire
communication system. As much as banking involves communication in one way or
the other, banks have joined the communication bandwagon. Having observed the
astronomical growth rate and acknowledging the potential banks adapting and
often adapting the Internet to suit their functions and roles. As in any new
venture there are setbacks in terms of issue of security and associated costs.
As a consequence banks are working towards remedying these shortcomings so as to
take full advantage of the digital revolution.

USA: The Phishing Hook: Issues and Reality
(By Qinyu Liao and Xin Luo)
http://www.arraydev.com/commerce/jibc/2004-12/Phishing.HTM

Phishing attacks have become increasingly serious and spread more rapidly
because of its ease of launching, difficulties to be caught and the monetary
benefit behind it. As currently there is no single technology that has been
effective in deterring phishing, the authors pointed out the trends in
prevention of phishing and emphasized the importance of preventive measures,
such as awareness education, collaboration in information sharing and
standardization, legal enforcement etc.

INDIA: Cyber Branding: An Exploratory Study of Virtual Organizations
(By Smriti Yash Verma and Nikhil Agarwal)
http://www.arraydev.com/commerce/jibc/2004-12/Nikhil.HTM

Virtual organizations are those that do not have any brick-and-mortar structure,
thus enhancing the need of physical evidences. In this case, branding takes the
front seat to successfully pose the site on the Internet. The present study was
undertaken to understand and analyze the factors affecting e-branding. It has
been observed that "Downloading Speed" and Logo & Punch Line" are most preferred
attributes for branding on Internet.


========================
FEATURE ARTICLES
========================

BELGIUM: Electronic Invoicing: More Than Just VAT Aspects
(By Edwin Jacobs)
http://www.arraydev.com/commerce/jibc/2004-12/Jacobs131204.HTM

European legislation facilitates that companies start using electronic
invoicing. The aim of the European E-invoice Directive was to introduce some
uniform rules regarding VAT throughout the European Union. Some other important
legal aspects, such as the probative value of an e-invoice, endorsement,
e-invoices in bankruptcy proceedings,remain often unexamined. EU Member State
law can be construed and interpreted according to the European Directives, for
legal issues not covered by the E-invoice Directive. When the security issues
are covered, such as the authenticity of the origin and the integrity of the
contents (i.e. essential requirements of the E-invoice Directive), so that
can be assured that the invoice remains unchanged and readable, e-invoices and
paper invoices should have the same legal value.

SINGAPORE: Strong(er) User Identification
(By Tan Teik Guan)
http://www.arraydev.com/commerce/jibc/2004-12/Guan.HTM

As more people use the electronic and Internet platform to carry out more
sensitive and higher valued transactions, the need for organizations that
operate such systems to have the ability to remotely ascertain the identity of
the user becomes extremely critical. In this paper, some of the questions that
organizations must ask when sourcing for 2-factor authentication solutions, and
show that with a flexible solution, 2-factor authentication need not be painful
or costly are highlighted.

SWEDEN: End-to-End Management in ICT Managed Services
(By Isto Kannisto)
http://www.arraydev.com/commerce/jibc/2004-12/KannistoIsto.asp

The change of outsourcing business has transformed from the outsourcing of
generic IT services to the outsourcing of specific IT services Information
System Outsourcing. The basic need of the customer is to find an adaptable and
comprehensive Information and Communication Technology (ICT) management
solution. Service Providers have to ensure end-to-end service is protected, all
the elements must be included, physical protection to the core communications
infrastructure, including network equipment, routers, switches, servers and so
on, back-up power sources located in bunkers, virtually defence-level
protection, have to be available to ensure uninterrupted network operation.


/---------------------ADVERTISEMENT -------------------\

The World-Leading Web Security Audit
ADDSecure.Net(TM) Audit encompasses a range of Internet network and server audit
and testing services. The program is powerful enough to satisfy the strenuous
demands of leading government organizations, banks and private corporations, yet
it can meet the budget requirements of even small firms. Further information is
at:
http://www.addsecure.net/info/service.htm

\---------------------ADVERTISEMENT -------------------/


====================
Administrative Notice
====================

Journal of Internet Banking and Commerce

JIBC is a leading edge publication that informs banking and electronic commerce
professionals and executives on principal developments, benchmark practices, and
future trends in the Internet-based marketing practices of governments and
industry. This free online interactive journal is a way to keep in touch, to
share information, and to establish business contacts (networking) for worldwide
professionals that specialize in electronic commerce, governance and banking
solutions.

In JIBC you will find informed discussion of the latest internet-based banking
and electronic trends and practices from around the world. Our priority is
quality, not quantity. We want to maintain JIBC as a service that provides
substantial information and an effective forum for your articles, your letters,
your insights and ideas.

JIBC invites banking and electronic commerce professionals, academicians and
publishers to submit important announcements, original articles, guest columns
and significant feature presentations. We also welcome surveys, book reviews and
letters to the Editor. Technical discussions in highly specialized areas of
expertise will be kept to an absolute minimum.

JIBC is formally issued three to four times a year when an email summary of
current articles is distributed to subscribers. The full text of current
articles is posted on the JIBC
Web site at http://www.ARRAYdev.com/commerce/JIBC/current.asp.

The publication is complemented by the Compendium of Internet Banking and
Commerce Initiatives at http://www.arraydev.com/frames/f-guest_comp.htm. We
invite readers to provide brief descriptions of products, books, and services
that they think others will find interesting.

The Journal of Internet Banking and Commerce (JIBC) is provided as a service by
ARRAY Development based in Ottawa, Canada. Views expressed are those of the
authors and are not necessarily shared by ARRAY Development. Firms or
individuals interested in sharing sponsorship of this project may contact array
(at) ARRAYdev.com.

The JIBC Web Archive http://www.arraydev.com/commerce/jibc/articles.htm contains
all articles published to date.

You can reach the Editor-in-Chief Gord Jenkins with any questions or comments by
email at:
jenkins@...

Publisher Nahum Goldmann is at:
Nahum.Goldmann (at) ARRAYdev.com.

Editorial Advisory Board

Publisher: Nahum Goldmann

Chief Editor: Gord Jenkins

Assistant Editor: Xin "Robert" Luo

Mailing List Managing Editor: Anne-Marie Jennings

Contributing Editors
U.K. Contributing Editor: David G.W.Birch
Nordic Countries Contributing Editor: Minna Mattila
Legal Contributing Editor: Edwin Jacobs
India Contributing Editor: Nikhil Agarwal
Middle East Contributing Editor: Saheer Al-Jaghoub
Africa Contributing Editor: Alemayehu Molla
France Contributing Editor: Jean-Michel Sahut


Please send any questions related to maintenance of this Web site to:
array (at) ARRAYdev.com

Information and subscription for JIBC mailing list is available via:
http://groups.yahoo.com/group/JIBC/