Electronic banking and
treasury security
This new edition takes into
account the very latest advances in electronic banking and treasury security. The
electronic transmission of funds from companies to banks means that companies are
responsible for high levels of risk previously covered by the bank's own security systems.
This book is the definitive source of advice for all finance professionals. All of the
contents has been thoroughly revised and updated and also includes:
- New
material from the book's sponsor, NatWest
- A
whole chapter covering security on the Internet, and
- Fresh
case study material
Electronic banking and
treasury security covers everything from the systems themselves to the new documentation
and includes contributions from leading figures in the banking, treasury and computing
communities. This book will be invaluable to corporate treasurers, finance directors,
bankers and the financial advisory community.
About the Editor
Brian Welch - Treasury
Consultant with UserCare Limited with wide experience as a corporate treasurer and with
treasury systems. He is an active member of The Association of Corporate Treasurers,
having served as a Member of the Council, Chairman of the Publications Committee and
currently as a member of the Programme Committee and the working party on the introduction
of the Euro.
About the Contributors
Michael Deakin - Executive
Consultant at Ernst & Young Management Consultants advising corporate clients,
financial institutions and central and local government bodies on treasury management.
Tony de Caux - Chief
Executive of The Bank Relationship Consultancy specializing in international banking, cash
management, electronic banking and treasury technology.
Tom Fallon - Treasurer at
United Utilities PLC since 1991, having previously worked for Ford, Octopus Publishing and
Reed International.
Roger Gate - Senior Manager,
Electronic Commerce & On-Line Services, NatWest Group, is well versed in electronic
cash management and E-Commerce - current responsibilities include developing business to
business E-Commerce services.
Claire Goddard - Executive
Consultant in the Global Investment Banking group at Ernst & Young where she advises
on operational and risk related processes and systems needed for front and back offices.
Tony Palmer - Security
Consultant, group Security Services, NatWest Group, focusing on cryptography abd trust
infrastructures. Tony has an international banking background and has a wealth of
experience in trade finance, maney market and international cash management disciplines.
John Sherwood - Director of
Sherwood Associates Limited offering consultancy on IT security and operational risk
management and is also a member of the UK EDI Security Advisory Group.
Charles Storer - Senior
Manager at NatWest Group with expertise in electronic banking, security and smart cards -
current responsibilities include development and implementation of global electronic
commerce opportunities.
Richard Tyson-Davies - Head
of Public Affairs at APACs, where he acts as spokesman for the payments industry on
matters relating to cooperation in the provision of money transmission services.
Contents
Part 1: Electronic banking
Backgroud and history
Function of APACS
Global cash management
BACS: practical control
issues
Electronic banking
documentation
Funds transfer laws - UCC4A
Part 2: Treasury and systems
security
Treasury security issues
Security and audit in
treasury systems
Security on the Internet
EDI security
Part 3: The future
Future developments
Appendix 1 : Selecting a new
treasury system
Appendix 2 : The London Code
of Conduct
Contents
Part 1: Electronic banking
Backgroud and history
Michael Deaking & Claire Goddard
- The
first steps
- The
search for efficiency
- Improving
clearing systems
- Progress
from technical developments
- Weaknesses
are uncovered
- Recent
times
Function of APACS
Richard Tyson-Davies
- History
and background
- The
fundamental role of APACS
- APACS
structure
- Clearing
companies
- Future
developments at APACS
- Future
developments in payment systems and information systems
- CHAPS
- Security
- Settlement
risk
Global cash management
Charles Storer
- Definition
and evolution
- Principal
cash management
- Issues
to consider when establishing a global cash management structure
- Potential
cash management risks and security principals
- Corporate
security requirements and measures
- Additional
measures
- Other
considerations
- Conclusions
BACS: practical control
issues
Tom Fallon & Brian Welch
- BACSTEL
- File
authentication
- Control
point
- Indentification
labels
- Label
numbers
- Bureu
- Validation
- Preparation
of media
- Beneficiaries'
bank details
- Transaction
limit
- Input
report
- BACSMAIL
- Audit
reports
- Mandate
- Controls
checklist
Electronic banking
documentation
Brian Welch
- Negotiating
with the bank
- Specific
points of concern
- Electronic
data interchange (EDI)
- Agreements
by subsidiaries or associates
- Electronic
Funds Transfer Act 1978 (USA)
- Computer
Misuse Act 1990 (UK)
- Electronic
banking documentation checklist
Funds transfer laws - UCC4A
Tony de Caux
- UCC4A
funds transfer law
- The
impact of UCC4A on US-based companies
- The
impact of UCC4A on companies based outside the US
- UNCITRAL
nodel law on international credit transfers
- The
EC cross-border payment directive
Part 2: Treasury and systems
security
Treasury security issues
Claire Goddard & Michael Deakin
- Planning
the organizational framework
- Authorization
procedures
- Segregation
of duties
- Dealing
controls
- Accurate
recording
- Settlement
procedures
- Prompt
reconciliation
- Independent
valuation
- Timely
management monitoring
- Treasury
security checklist
Security and audit in
treasury systems
Brian Welch
- Definition
- Description
- Early
treasury systems
- Basic
security considerations
- Security
and access
- Audit
trail
- Back-up
and recovery
- System
upgrades
- Documentation
- The
unthinkable
- In-house
systems
- Security
and audit checklist
Security on the Internet
Roger Gate & Tony Palmer
- Internet
/ World Wide Web (WWW)
- Firewalls
- Encryption
- Digital
signatures
- Private
key pairs
- Public
keys and certificates
- Challenge
and response
- Secure
electronic transaction protocal (SET)
- Summary
- Checklist
of risks and other solutions
EDI security
John Sherwood
- What
is EDI?
- Why
does EDI need security?
- What
are the security requirements for EDI?
- How
does EDI compare with traditional systems?
- What
international standards are available?
- What
are the security features of EDIFACT?
- What
cryptographic techniques are available?
- How
is encryption technology used to provide message security?
- What
special purpose does X.435 fulfil?
- What
are the legal issues affecting EDI security?
- EDI
security checklist
Part 3: The future
Future developments
Michael Deaking & Claire Goddard
- Retail
banking services
- Corporate
treasury services
- The
effect of continuous progress
Appendix 1 : Selecting a new
treasury system
Appendix 2 : The London Code
of Conduct
304 pages