Internet Banking News

August 8, 1999

1) Good news - Last week I reported that the US Government was wanting to monitor private Internet site for hackers. This week, the government is backing off private monitoring. With criticism rolling in from all quarters, U.S. government officials backed away from a controversial plan to monitor private-sector networks for hacking activity. We will see how long this last, but for now all is well.

2) INTERNET SECURITY - The past couple of weeks, I covered three issues that should be included in your information system's security policy. Prevention and detention was discussed the past two weeks. This week I am covering the final issue, "response" which is:

Another key area involves preparing a response program to handle suspected intrusions and system misuse once they are detected. Institutions should have an effective incident response program outlined in a security policy that prioritizes incidents, discusses appropriate responses to incidents, and establishes reporting requirements.

3) INTERNET COMPLIANCE - Consumer Leasing Act (Regulation M) - OSC 213.2(b)-1 provides examples of advertisements that clarify the definition of an advertisement under Regulation M. The term advertisement includes messages inviting, offering, or otherwise generally announcing to prospective customers the availability of consumer leases, whether in visual, oral, print, or electronic media. Included in the examples are on-line messages, such as those on the Internet. Therefore, such messages are subject to the general advertising requirements under 213.7.

IN CONCLUSION - This week I received another report that the bank examiners are getting more enthusiastic auditing the bank's Internet activities.

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Company Information
Yennik, Inc.

4409 101st Street
Lubbock, Texas 79424
Office 806-798-7119
Examiner@yennik.com

 

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