The Legal And Regulatory Issues Of Internet Banking And E-Money

Internet banking or Cyberbanking, while relatively new, promises to be the way consumers, will bank in this new millennium. According to the data by Cybercitizen Finance, of the 58 million Internet user populations in July 1998, some 35 million (60 percent) were conducting some form of financial service activity via the Internet. Of these, over 18.1 million were managing their investments on-line. That was in 1998; by 2005, it is estimated that the total online population will exceed 300 million. In the US as of June 1997, based on information from 185 banks surveyed, the United States General Accounting Office (GAO), "projected rapid growth in online banking over the next year and a half as the number of U.S. banks implementing online systems is expected to increase about fivefold nationwide.Download DescriptionInternet banking or Cyberbanking, while relatively new, promises to be the way consumers, will bank in this new millennium. According to the data by Cybercitizen Finance, of the 58 million Internet user populations in July 1998, some 35 million (60 percent) were conducting some form of financial service activity via the Internet. Of these, over 18.1 million were managing their investments on-line. That was in 1998; by 2005, it is estimated that the total online population will exceed 300 million. In the US as of June 1997, based on information from 185 banks surveyed, the United States General Accounting Office (GAO), "projected rapid growth in online banking over the next year and a half as the number of U.S. banks implementing online systems is expected to increase about fivefold nationwide.

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