As security protocols are used to authenticate more transactions, they end up being relied on in legal proceedings. Designers often fail to anticipate this. Here we show how the EMV protocol – the dominant card payment system worldwide – does not produce adequate evidence for resolving disputes. We propose five principles for designing systems to produce robust evidence. We apply these to other...

A Review of mechanisms for secure e-banking used by Greek Banks is presented. Some comparison, the common perceptions of security, the opposite directions and trends for future directions are also presented. We conclude with interesting deductions. 1 REQUIREMENT AND AVAILABLE TECHNOLOGIES During the last two decades banking industry has adopted new service channels. The most widely known are AT...

Foes of the United States have demonstrated their ability to strike at the heart of this country. Fear of renewed attacks and a desire for greater national security have now prompted many to call for improvements in the national personal identification system. In particular, the possibility of a national identification card containing the carrier's DNA information is being seriously considered....

Design by Contract (DbC) is a software development methodology that focuses on clearly defining the interfaces between components to produce better quality object-oriented software. The idea behind DbC is that a method defines a contract stating the requirements a client needs to fulfill to use it, the precondition, and the properties it ensures after its execution, the postcondition. Though th...

For decades now, modular design methodologies have helped software engineers cope with the size and complexity of modern-day industrial applications. To be truly effective though, it is essential that module interfaces be rigorously specified. Design by Contract (DBC) is an increasingly popular method of interface specification for object-oriented systems. Many researchers are actively adding s...

In this paper, a new image indexing and retrieval algorithm using multiresolution directional binary code (DBC) co-occurrence matrix is proposed. DBC histogram captures only the patterns distribution in a texture while the spatial correlation between the pair of patterns is gathered by DBC Co-occurrence. Multi-resolution texture decomposition and co-occurrence calculation has been efficiently u...

I n a modern economy, a large fraction of payments for goods and services involve the services of one or more banks. The provision of payment services is, in fact, one of the distinguishing characteristics of banks. A bank-intermediated payment instrument, such as a check, typically communicates instructions to the buyer’s bank to make payment to the seller or the seller’s bank. Often, then, we...

The growth of mobile commerce is directly related to the increase of ownership and use of mobile personal, programmable communication devices, including mobile phones and PDAs. These devices provide effective authorisation and management of payment and banking transactions since they are capable of offering security and convenience advantages compared with existing methods, such as credit/debit...

We highlight the implications of combining underwriting services and lending for the choice of underwriters and for competition in the underwriting business. We show that cross-selling can increase underwriters’ incentives, and we explain three phenomena: first, that cross-selling is important for universal banks to enter the investment banking business; second, that cross-selling is particular...

Loan securitization has become a widely used method for consolidating collections of loans into financial instruments with sufficiently stable statistical properties that they can be freely traded. In recent years the concept has been generally extended, creating a class of asset backed securities, financial instruments which are created from a wide variety of loan sources, including credit car...