000			03452cam a22003497a 4500
001			13970871
003			The World Bank
005			20181123120952.0
006			m d
007			cr cn|||||||||
008			050517s2005 dcu sb i000 0 eng
010			_a2005619128
035			_a(The World Bank)13970871
040			_aDLC _cDLC
050	0	0	_aHG3881.5.W57
100	1		_aKellermann, Tom.
245	1	0	_aCapital markets and e-fraud _h[electronic resource] : _bpolicy note and concept paper for future study / _cTom Kellermann, Valerie McNevin.
260			_a[Washington, D.C. : _bWorld Bank, _c2005]
490	1		_aPolicy research working paper ; _v3586
500			_aTitle from PDF file as viewed on 5/17/2005.
504			_aIncludes bibliographical references.
520	3		_a"The technological dependency of securities exchanges on internet-based (IP) platforms has dramatically increased the industry's exposure to reputation, market, and operational risks. In addition, the convergence of several innovations in the market are adding stress to these systems. These innovations affect everything from software to system design and architecture. These include the use of XML (extensible markup language) as the industry IP language, STP or straight through processing of data, pervasive or diffuse computing and grid computing, as well as the increased use of Internet and wireless. The fraud is not new, rather, the magnitude and speed by which fraud can be committed has grown exponentially due to the convergence of once private networks on-line. It is imperative that senior management of securities markets and brokerage houses be properly informed of the negative externalities associated with e-brokerage and the possible critical points of failure that exist in today's digitized financial sector as they grow into tomorrow's exchanges. The overwhelming issue regarding e-finance is to determine the true level of understanding that senior management has about on-line platforms, including the inherent risks and the depth of the need to use it wisely. Kellermann and McNevin attempt to highlight the various risks that have been magnified by the increasing digitalization of processes within the brokerage arena and explain the need for concerted research and analysis of these as well as the profound consequences that may entail without proper planning. An effective legal, regulatory, and enforcement framework is essential for creating the right incentive structure for market participants. The legal and regulatory framework should focus on the improvement of internal monitoring of risks and vulnerabilities, greater information sharing about these risks and vulnerabilities, education and training on the care and use of these technologies, and better reporting of risks and responses. Public/private partnerships and collaborations also are needed to create an electronic commerce (e-commerce) environment that is safe and sound. "--World Bank web site.
530			_aAlso available in print.
650		0	_aCapital market.
650		0	_aElectronic commerce.
650		0	_aInternet fraud.
700	1		_aMcNevin, Valerie.
710	2		_aWorld Bank.
776	1	8	_aPrint version: _iKellermann, Tom. _tCapital markets and e-fraud. _d[Washington, D.C. : World Bank, 2005]
830		0	_aPolicy research working papers ; _v3586.
830		0	_aWorld Bank e-Library.
856	4	0	_uhttp://elibrary.worldbank.org/doi/book/10.1596/1813-9450-3586
999			_c139347 _d139347