Accessing bank data crime through the use of various information Dissertation

Accessing bank data crime through the use of various information technology in Saudi law - Dissertation Example However, the same has also led to a simultaneous rise in data crimes, and identity thefts have increased manifold. The ‘playing field’ for criminals has also widened, opening up newer avenues for committing virtual crimes; thus replacing unpleasant physical encounters with cyber crimes (Yusuf 2003). For instance, prior to the computerization of banks, most of the bank frauds or thefts involved armed robberies and breaking into banks causing physical injury to people and considerable damage to property. Today, the criminals use internet to break into customers’ accounts and steal their identities for withdrawing cash, thus only causing monetary damage. The tools available at the disposal of such criminals have also risen considerably with the advent of information technology, where frauds and thefts can easily be committed from the comforts of one’s own home (Forder, Quirk, 2001; Kono et al, 2002). The fact that computers and internet have made life easier f or customers in the banking sector, with services enabled through technology such as ATMs, internet banking, and bank by phone services, cannot be denied. However, at the same time, the complexities of bank-related crimes have also increased substantially and simultaneously. It has posed newer challenges for law enforcement agencies to monitor and control such crimes, making it practically mandatory for the law makers to enact new cyber laws; and their officers to gain and be proficient in computer science / forensics. As humans grow more and more dependent on technology, it is highly likely that computer related crimes would increase simultaneously (Lee, Lee, & Kim, 2007). Hence, the appropriate enactment and application of laws and effective use of technology are the only tools to combat and address such crimes with utmost efficiency. Furthermore, it is also equally important, rather imperative, for customers to understand and be aware of such crimes so as to secure their bank acc ounts from such fraudulent practices (Sathe, 1999; Salvatore, 2006; Jaffer, 2005; Laforet 2008; Dar and Presley 2003). This paper seeks to discuss, analyze and recommend ways to combat the challenges posed by technology enabled crimes within the banking sector, and use the same as an effective means of securing and preventing bank data thefts. Meaning and Definitions of key terms used: Data: According to Article 1 (3) of the Anti Cyber Crime Law, the term ‘data’ refers to â€Å"Information, commands, messages, voices, or images which are prepared or have been prepared for use in computers. This includes data which can be saved, processed, transmitted, or constructed by computers, such as numbers, letters, codes, etc.† Thus with reference to banks and for the purpose of this study, data thefts refers to the theft of all or any of the above mentioned data by use of information technology. Significance: This study would help in identifying the various ways in which data thefts occur in banks and raise awareness on the issue. Furthermore, it is intended to highlight the many ways in which technology can be used to counter such crimes, and address them through effective application of technology (Zheng and Ni, 2006). This study would also include various recommendations to reduce such thefts through network security; ensure greater protection of customers’ data by using tools which would prevent the cyber criminals from hacking and other similar ID related frauds. Thus, help the banks in improving its productivity as well as profitability by offering secure transactions. Scope of study: This study aims to highlight the