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Newsletter Volume 4(1) 30 March 
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User Centred Design of Financial Services Project News Volume 4 (1), March 30, 2006 User Centred Design (UCD) of Financial Services Project News is a fortnightly e-newsletter that keeps you in touch with what is happening in the Banking and E-Commerce streams of the Smart Internet Technology CRC project on Security, Trust, Identity and Privacy. The aim is to stimulate interaction with our wider project team, industry partners and researchers involved with the use and design of financial services. <><><><><><><><><><><><><><><><><><><><><<><><><><> ******************************************************** A. Wirelesss Technologies Case Studies The use of wireless technology for a range of business activities, such as mobile commerce, is a small but rapidly growing part of the economy. However, before wireless applications become universally adopted, a number of issues need to be resolved. Although technological hurdles such as compatibility of networks and standards are diminishing, they remain a challenge as does mobile device limitation. However, there are other, non-technical, challenges, such as privacy and security issues, and the need for new payment mechanisms and standards. Professor Margaret Jackson ******************************************************** Marita Shelly will be working in two areas - identity management, privacy and security within SME’s and the wireless economy. She has a background in accounting and information management and is based within the School of Accounting and Law at RMIT University. Her research interest is in the area of copyright. Hayley Seadon has joined the project team. She completed a Bachelor of Science with an Honours year in Physiology, then completed a Bachelor of Commerce, both at the University of Melbourne. She has a keen interest in research. ******************************************************** On 16 December 2005, the Federal Government released an exposure draft of the Anti-Money Laundering and Counter-Terrorism Financing Bill 2005 (AML/CTF Bill). The Bill will cover a range of services provided by the financial services sector, gambling Service Providers and bullion dealers. Lawyers and accountants are covered by the Bill to the extent that they provide financial advice services. The objective of the Bill is to establish an AML/CTF framework, with primary obligations contained in principles based legislation and with operational aspects set out in AML/CTF Rules to be developed by AUSTRAC, the Australian Transaction Reports and Analysis Centre. The focus of the Bill is on a range of designated services that are considered vulnerable to money laundering or terrorism financing. Businesses that provide a designated service are required to conduct appropriate customer identification, due diligence, record-keeping and reporting obligations, as well as to develop, maintain and comply with AML/CTF Programs. These Programs require the Service Provider to articulate a framework for identifying risks, and to ‘identify’ new customers before providing a service. The Bill contains a “technology neutral, flexible approach to customer identification” which allows a Service Provider to choose their own identification procedures. In some circumstances, the provision of certain low-risk services will not require client identification. The Service Provider is required to report any suspicious matters to AUSTRAC. The Exposure Bill will be open for public consultation for four months and will be referred to the Senate Legal and Constitutional Legislation Committee for consideration in 2006. It is expected that there will be many more amendments to the proposed law as the consultation period continues. ******************************************************** Elsie, 45, is a single parent with two children. She is a health professional, but is not in paid work at present because of health reasons. So her annual household income has fallen below $25,000. Telling the story of her life and money, she says money “is the currency of my life”, that money has woven “tentacles” around every relationship. Money is also one of the factors that contributed to the end of her marriage, and ill health. Her life has veered from confidence with money when she was young, to being so overwhelmed and hopeless with it that she became a compulsive gambler and nearly lost her house. Elsie is an enthusiastic adopter of new technologies. She is one of the few people we have interviewed who uses mobile banking. She was one of the trial customers for phone banking and went on to Internet banking soon after it was introduced. She has no fears of security or privacy with these technologies. She also has no fears of identity theft. It is electronic money that is difficult to handle. “The way banking has changed towards electronic processing and more recently to Internet banking is probably more convenient. But the downside for me - I think it is part of why I lost the sense of the value of money, in a way - it is just numbers on paper. You don’t get to handle money like you used to…. You don’t have to segregate the money and say I want to save that for later. It all goes into one account. It is a challenge to either physically move it somewhere else – a deliberate step – or you have to leave it in the pool and exercise some discipline consciously to reserve funds. “I think money has become less real. (That is) the long and the short of it. Particularly the advent of credit cards …and the linking of credit cards to bank accounts, and being able to make payments over the phone – to some extent has made money much less concrete, much less tangible…. (I come) from a background where my Greek father paid cash for everything.. It was a family joke that he would … go and buy petrol and he would be digging in (his pockets) and the cash would be falling out and we would … be picking it up in one and two dollar bills. We have gone from that real concrete grip on money to something quite different. We can even turn our bricks and mortar, the home we live in, into cash.” ******************************************************** Margaret Jackson and Julian Ligertwood (2006) Identity Management: Is an identity card the solution in Australia? Paper to be presented at the Human Factors Series, RNSA Workshop 29 May 2006, University of Wollongong The paper explores how an identity card scheme might work in Australia using the UK Identity Card Scheme as a model. We analyse the possible elements of a proposal for a national ID card scheme and assess how each element would reduce identity theft and fraud, improve national security, and maintain adequate privacy protection. ------------------------------------------------------------------------------ Supriya Singh (2006) UCD of Financial Services at the Smart Internet Technology Centre. Overview to be presented at Computer Human Interaction (CHI) 06, Montreal Supriya Singh, Margaret Jackson, Jenine Beekhuyzen and Anuja Cabraal (2006) The Bank and I: Privacy, Banking and Life Stage. Paper to be presented to the Privacy enhanced Personalization Workshop, CHI 06, Montreal Enabling customers to influence the way they are represented in the bank’s data bases, is one of the major personalization, responsiveness and privacy issues of banking. We find that changes in life Supriya Singh (2006) The Social Context of the Security of Internet Banking. Paper to be presented at the Human Factors Series, RNSA Workshop 29 May 2006, University of Wollongong This paper examines the users’ perspective on the security of Internet banking in Australia within the social context. We conclude that the most effective way to increase the perception of Internet banking security is to increase ease of use, convenience, personalisation and trust. Without the perception of security, there will be little trust in banking and transactions on the Internet. This will impede aspects of the nation’s critical infrastructure. Jackson, Margaret, 'Information Privacy Management by Digital Rights Management Systems', (2005) 55 Telecommunications Journal of Australia 52. Many countries have now introduced some form of data protection regulation which provides a minimum set of principles to be followed by organisations when collecting and using personal information. Most laws operate on a national basis, but websites can operate across national boundaries and collect personal data from users from different countries. This paper examines eight music download websites with digital rights management systems to assess their stated policies for handling the personal information collected from users and subscribers. It explores what the websites state they will do with this personal information once they have collected it, and assesses whether the stated practices are consistent with the data protection regulations, if applicable. ******************************************************** http://www.mobiforum.org/mobiforum/mobi.php The conference will present papers and presentations based on empirical research and theoretical analysis to explore the multiple ways the Internet acts in both converging and fragmenting ways - physical, cultural, technological, political, social - on local, regional, and global scales. http://conferences.aoir.org/index.php?cf=5 If you have any comments regarding this e-newsletter or the Money website, or you would like to submit an item for publication, please contact Anuja Cabraal at: anuja.cabraal@rmit.edu.au. |