전자금융 감독제도의 강화를 통한 금융거래 위험의 관리방안

Abstract

The advent of the Internet and advances in information technology and telecommunications unquestionably are having significant effects on financial markets and institutions. No one seems to doubt that, in the long run, electronic finance will result in more efficient financial intermediation. However, the electronic finance is not always bring benefits to the market player and its client. In fact, there is something serious issue regarding financial institution’s risk management and system stability for their electronic equipment. Furthermore, supervisory authority should undertake to control entire financial industry’s stable development. Undoubtedly, declining costs of information will reduce some of the uncertainty that gives rise to financial risks. Under this circumstances, this study argues the risk management of financial transactions through the strengthening of electronic financial transactions supervision standard focusing on the level of liabilities in the Electronic Financial Transactions Act. The risk-management techniques will reduce the required rates of return for bearing the risks that remain by allowing them to be unbundled and shifted more effectively than has been possible. However, many observers are concerned about the short-run challenges that those rapid advances in technology pose for financial institutions and markets and for policy-makers. New financial instruments and electronic financial transactions adopted information technology is general trend in world financial industry. Day by day, financial institutions are caught in a whirlpool of the change of business environment and therefore the argument of risk management of financial institutions is timely works. Some institutions inevitably will suffer erosion of their both corporate values and reputation as competitors. Perhaps more serious issue is how to protect client’s fund. Meanwhile, most of the attacks on electronic finance used today are based on deceiving the user to hack into login data, valid PIN/TANs, and cards duplication etc. Two well known examples for those attacks are phishing and pharming. In addition, cross-site scripting and keylogger and Trojan horses can also be used to steal security information. Most serious circumstances and undesirable massacre for people who are engaged in the electronic financial transactions such as financial supervisor of the government agency, market players, and consumers are also to attack the main computer systems itself. DDos is a case in point. Unfortunately, however, there exist only limited countermeasures which try to avoid attacks on the financial transactions stability. In this piece, considering the whole situation presently we’re encounter, I explain the various risks that are surrounded by financial institutions. I also argue why we should manage the financial institution’s risks. I introduce the current international trend about electronic financial transactions supervising. I argue that how domestic financial institutions and supervisory authority set appropriate supervisory rules. In the conclusion, I present some suggestion and lessons. The main argument in this article is that the requirements of financial institution’s security policy should be left to individual institutions and financial supervisory service’s role in electronic financial transactions shall be minimally imposed on the player but it must be strict.