Vulnerabilities of EFTs to Intentionally Caused Losses The hypothesis that consumers are provided greater accuracy and freedom from error and fraud with electronic funds transfer systems (EFTs) is discussed in light of the technical capabilities and potential of the computer to protect against both accidentally and intentionally caused losses. Although the nomenclature for business crimes remains the same as for manual depository and other financial service systems - for example, fraud, theft, embezzlement - the characteristics of the crimes are new. The changes resulting from the accelerating use of EFTs and its continual technological advances broaden the scope of security issues to be examined. Factors such as backup requirements, regulatory and legislative actions, and economics give rise to the urgency for immediate research into solutions for emerging EFTs - related vulnerabilities. CACM December, 1979 Parker, D. EFTs, computer abuse, crime, security, errors, losses, positions of trust, legislation 2.11 2.3 3.52 3.80 CA791205 DB February 25, 1980 1:56 PM 3142 4 3182 3179 4 3182 3178 4 3182 3182 4 3182 3183 4 3182 3076 5 3182 3178 5 3182 3182 5 3182 3182 5 3182 3182 5 3182 3076 6 3182 3140 6 3182 3142 6 3182 3179 6 3182 3180 6 3182 3181 6 3182 3182 6 3182