NCJ Number
122900
Date Published
1990
Length
39 pages
Annotation
This examination of the adequacy of the regulatory structure and security measures for protecting the national and international systems for electronic funds transfers from misuse and abuse concludes that improvements are needed in oversight, management, and security measures.
Abstract
The analysis included a risk assessment of the security of the FEDWIRE system and the Clearing House Interbank Payments System and a general analysis of the telecommunications system operated by the Society for Worldwide Interbank Financial Telecommunication. No incidents of fraudulent electronic funds transfers have been reported. However, computer control weaknesses and other management weaknesses increase the risks of a disruption or degradation of services or the unauthorized use, modification, destruction, or disclosure of data. In addition, the Federal oversight over these systems is uneven. Recommended improvements, table, footnotes, and appended methodological information, findings, and agency comments are included.