Scientific Method Applied To Forensic Science Environmental Sciences Essay

Scientific Method Applied To Forensic Science Environmental Sciences Essay Forensic science is often described as a science about patterns of crime mechanisms, about collection of information about the crime and its participants, about rules of evidence gathering, researching, evaluating and applying, and eventually about those media and methods based on this knowledge necessary for judicial scrutiny conduction and crime prevention (Raton, 2003). It makes it natural for this science to use not only specific forensic methods, but general scientific method tested by time and different branches of natural and physical knowledge as well. The term scientific method means a method of research in which a problem is identified, relevant data are gathered, a hypothesis is formulated from these data, and the hypothesis is empirically tested (Flexner Hauck, 1987). The matter is, many scientists fail to build a fundamental theory of how scientific method is applied to forensic science, while it is extremely important to differentiate the way it is applied to this science and the way it is applied to other sciences, as they differ to a great extent. Forensic sciences study the past and not the present, Dr. Thomas Young explains (Young, 2009). The first stage, observation and description is intended to find out and completely reflect what happened. The activity of observation requires efficient and intentional direct perception of objects and phenomena with the use of senses. It includes the study of materials and products, structures and textures. It is especially significant during inspection, search, and other investigative actions. The purpose of observation depends on the character of the object or phenomena we examine. Sometimes we reveal some thing; sometimes we look for certain characteristics, properties and features this thing possesses. In other cases it can be the behavior of the suspect, accused etc. (Davis, 2005). According to these criteria, some facts revealed during observation and procedurally fixed can have the significance of evidence, while others (like the behavior of a defendant during the interrogation) can be just a kind of material to build versions. In this way the task is to describe a set of de fined circumstances, to reconstruct the picture of the crime or a tort, to recreate the intricate variety of past conditions as full as possible, paying attention to timing and order of events. The prerogative are the actions intended to reveal and fix the traces of the crime or tort that change fast and the evidences which can be easily lost or changed on purpose. When the expert has enough data to see what took place, he formulates a hypothesis or several of them to explain the observation. This process can be also called versification we look for versions. The gnoseological aspect interprets version as a form of transmission from unawareness to knowledge about the investigated event. Thats why it is defined as a form and process of reflecting material world phenomena and empowering the objective nature of a studied object by thought itself. The process of cognition doesnt put borders between logical, psychological and cognitive aspects as they are all the parts of one process of mentality (Shafer, 2008). To have scientific power, hypotheses should be theoretically substantiated, allow specific order of verification and applicable methods to check the version. Hypothesis is a driving force of science development; hypothesis is one of the forms of science. Apart from the general theory of forensic science, the expert should apply his own professional experience. This stage is based on application of different logical constructions as an instrument. It is closely connected with the next action, consisting in building up predictions of other phenomena or concluding results. The media and methods of forming forensic predictions are intended for practical cognition of certain social phenomena which is a crime and aim at solving the question of guilt or guiltlessness of the subject. Hence they are to correspond to the strict criteria of reliability, legality, morality and acceptability. Each result, each consequence concluded from the proposed version should be carefully verified. Until the version is disproved and rejected, each fact logically coming from it should be checked in the light of its correspondence to the reality. Some part examined does not give the reason to take the version as something objectively true. If the examination provides contradicting data, you should never stop the tests. All the reasons of divergence should be found out. Falsification is an essential constituent of the scientific method. The hypothesis should be ideally either disproved or falsified. If there is a possibility to disprove the hypothesis, the scientist can discard it and turn to another, more correct hypothesis. Alternatively, if the hypothesis is confirmed by the experimentation and the following observation, it still does not mean this confirmation proves the truth of the hypothesis, Thomas Young claims (Young, 2009). Among the other methods, some statistical methods (generating quantitative results) are applied. Though they are not very popular and, according to the results of the survey, only 7% of respondents rely on them. Quantitative methods dont receive wide practical use because they fail to take to account individual features, and because this systems are not developed that well at all (Shafer, 2008). The last and the very important stage includes the application of such scientific method as experiment. It is usually based on scientifically conducted test performed to study the verified phenomena and its links with other phenomena. The particular feature of the experiment is possibility and necessity to interfere in the process of testing, studying the phenomena from different sides and in different conditions. Through investigation experiment is applied in various forms. One of the most effective methods affirmed by the theory of forensic science is parallel (simultaneous) testing by several independent experimenters. It means that other investigators are permitted to check and try to falsify the hypothesis proposed by the scientist. This procedure provides the most optimal tempo of investigation and economization of working time of the team. It is also efficient to check up several versions across. Gradual verification threatens to take more time and even ruin precious evidences , miss the procedure deadline of investigation. Considerable rule of examination consists in the following: test should go on until the version is disproved or until we achieve the situation when we can consider it to be the objective truth. The scientific method turns an assumption on any fact into a reliable piece of knowledge when we can prove this is the only fact to give such results. The hypothesis also turns into reliable knowledge when it is proved that all possible reasons of some fact except one are ruled out. The forensic version is right under the following circumstances: If all possible suppositions concerning the circumstances of the crime under detection were taken into account and no new data bring new versions. For instance, if there are three versions of murder (willful homicide, manslaughter, or an accident), disprove of the two versions except the first doesnt prove the willful murder is true. It can turn to be a mistake and truth nay be in the suicide version missed by the investigator. All the versions proposed concerning the situation were verified and all of them except the only one objectively proved were disproved and thrown away. All the consequences (circumstances) logically concluded from the proved version were thoroughly studied and revealed by confirmation. The version confirmed is absolutely coordinated with other circumstances of the case. Only in the case all the conditions listed are observed, the version can be admitted as the one corresponding to reality and expressing the objective truth (Flexner Hauck, 1987). Eventually, when the hypothesis is confirmed repeatedly through times over time, this hypothesis has all the chances to become a theory. When we say a theory, we mean a common principle used by scientists to explicate phenomena and make predictions of further events. All in all, we have seen the systematic approach provided by the general scientific method when applied to the forensic science. At the same time it is necessary to remember that forensic science itself is often defined as the application of science to law. It goes without saying, it is not ideal at all and has its own disadvantages consisting in certain limitations, but still it has demonstrated its sustainability in the sphere of crimes. The scientific method has proven itself over time to be a reliable way to arrive at real, measurable, observable truth, Dr. Thomas Young proclaims (Young, 2009).

Online Banking System

1. Introduction Online banking is an internet based account management service that allows to view our account balances and transaction transfer funds between authorized accounts, initiate loan payments, request stop payments on checks, order personal checks, download transaction information into your computer communicate with the bank using e-mail, and can include bill payment services bill payment services. On-line storage refers to a file of information (like a file on â€Å"students† or † courses) that the computer and the user can access immediately. The computer, in other words, is directly connected to the file. A database is simply a collection of on-line files to which the user can gain access Tape storage of data is inexpensive and reliable. Computer tape stores data much like audiotape and videotape store pictures and music, namely, in sequential order using magnetic impression on a thin film. Disk storage involves using magnetic impressions on a thin steel disk. The advantage here is that the information does not need to be in sequential order and the user can gain access to any piece of information immediately. Transactions Immediate Input Immediate Processing Immediate File Update On-Line Processing Online processing, which is now common involves transactions and processing them immediately. On-line processing systems use disk storage, which permits immediate access to specific items of information. In on-line processing, transactions are keyed into the system immediately and the system responds immediately. The master file is updated continually. The online has revolutionized the computer and communications world like noting before. The invention of the telegraph, telephone, radio, and computer set the stage for this unprecedented integration of capabilities. The online is at once a world wide broadcasting capability, a mechanism for information dissemination, and a medium for collaboration and interaction between individuals and their computers without regard for geographic location. In this paper online several of us involved in the development and evolution of the share our views of its origins and history. This history revolves around four distinct aspects. There is the technological evolution that began with early research on packet switching and the Arpanet (and related technologies), and where current research continues to expand the horizons of the infrastructure along several dimensions such as scale, Performance and higher level functionality. There is the operations and management aspect of a global and complex operational infrastructure. There is the social aspect, which resulted in a broad community of Internets working together to create and evolve the technology. And there is the commercialization aspect, resulting in an Extremely effective transition of research results into a broadly deployed and available information infrastructure. The online today is a widespread information infrastructure the initial prototype of what is often called the National (or Global or Galactic) Information Infrastructure. Its history is complex and involves many aspects-technological organizational and community. And its influence reaches not only to the technical fields of computer communications but throughout society as we move toward increasing use of online tools to accomplish electronic commerce, information acquisition, and community operations. 2. Importance of the study The banking business has been in effect since the importance and need of finance and money as well transaction in business. We got the banking culture in a usual form within the relationship between customers and bankers. In course of time banking became the inevitable part of our daily necessities through out our state. Banking business always appears to fulfill the need and convenience of customers in home and abroad. Nowadays, the banking business refurbished itself in accordance with variation in customer's need and utilization. Accordingly a larger section of population is still unaware of Online Banking owing to many reasons and legitimate crises. Moreover, this Online banking culture is such a culture or trend, as people ought to know, considering the issue. We should go forward to work immensely in this area or field as though this trend or culture spreads and gets access to the realization of people in no time. The money embezzlement in a bank poses tense and threat to the belief of people on bank, that man be eradicated through updated, modem service ensured in change of traditional banking management, therefore, my research work regarding this banking culture might grow the confidence, eagerness to large extent. On the contrary, this study would let the people and students be familiarized and come to a close contact in behalf of this banking system. 3. Objectives of the study: The primary objective of the term paper is to find out a feasible solution for the banking System of Bangladesh using a nation-wide network. Implementing a nation-wide Electronic banking system requires huge investment especially for the establishment of a backbone network. It really matters for a country like ours. But fortunately we need not go for establishing the backbone network; instead the high-speed optical fiber network previously owned by Bangladesh Railway can be leased partially to meet the requirement. This work also finds some comparison study with the existing system and finally focuses on few what-if analyses. The comparison study has been founded upon some important financial services such as fund emote transferring, letter of credit (L/C), assuring foreign exchange rate etc. It mainly finds the economic benefits. The what-if analyses have been formed using some internal matrices for performance evolution. The main objective of the term paper is to gather knowledge about the online Banking system and find out the consistency and inconsistency. I also try to adjust with the gap to be competent at the modem job market. The areas on which I have tried to give emphasis are: ? Working environment has and should be established. Identify the problems and prospects of online banking and recommends their solution. ? Justify the present supportive facilities, which are given by online Banking ? Interaction between different place with-in Bangladesh ? To show the influence of environmental situation on online. 4. Methodology of the study: Term paper is conclusive as well as descriptive in nature. Necessary Statistical tools have been applied to carry out the assigned study Following methods have been used to accomplish this proposed solution: ?  ¬ Basic principles of existing banking system (Bangladesh) ? Study the major drawbacks of existing system by interviewing the current employees of different banks. Interviews are mostly taken through emails and in some cases through telephone and Internet chat. ?  ¬ Study the existing IT infrastructure of Bangladesh in context of Bank by interviewi ng the developer of different banking software vendors ?  ¬ Study the E-banking system from different resources that are available in different websites, books and online journals ?  ¬ Some of the what-if analysis has been used to measure performance of the proposed solution. 5. Limitations of the study I have tried out best to collect the maximum information from the internet and Banks but I faced some problems: 1. Banks didn't provide all necessary information for their business secrecy. 2. Collecting data and preparing report is very expensive. 3. Times are not sufficient for preparing a very good report. As a result, information presented on the report might not reflect the utmost entire reality. Few data, which are gathered from secondary sources, could not match with present situation, because there was no annual report from the company. . 0 Findings and Analysis: 6. 1 The initial online concepts: The original ARPANET grew into the online, online was based on the idea that there would be multiple independent networks of rather arbitrary design, beginning with the ARPANET as the pioneering packet switching network, but soon to include packet satellite networks ground based packet radio networks and other networks. The online as we now know it embodies a key underlying technical idea, namely that of open architecture networking. In this approach, the choice of any individual network technology was not dictated by particular network architecture but rather could be selected freely by a provider and made to interwar with the other networks though a meta-level â€Å"Internetworking Architecture† Up until that time there was only one general method for federating networks. This was the traditional circuit switching method where networks would interconnect at the circuit level passing individual bits on a synchronous basis along a portion of an end to end circuit between a pair of end locations. Recall that Klein rock had shown in 1961 that packet switching was a more efficient switching method. Along with packet switching special purpose interconnection arrangements between networks were another possibility. Which there were other limited ways to interconnect different networks, they required that one be used as a component of the other, rather than acting as a peer of the other in offering end to end service. In an open architecture network, the individual networks may e separately designed and developed and each may have its own unique interface which it may offer to users and/ or other providers, including other internet roviders. Each network can be designed in accordance with the specific environment and user requirements of that network. There are generally no constraints on the types of network that can be included or on their geographic scope, although certain pragmatic considerations will dictate what makes sense to offer. Basically online is making up by networkin g of all branches. Any customer can collect money or deposit any amount of money, any branch of this bank. So modern world, online banking is call easy banking online system has two parts: Internal online system. External online system. Internal online system is any customer can deposit money or collect money from any branches of this bank. And external online system is any customer can deposit money or collect money or even pay his any kind of bill by ATM card or credit card. Online banking system is a powerful banking system for any banking transaction. For set up an online system need a lot of money. So which bank has only two or three branches don't want to set up online system. Online banking is secure. Every online bank is so confident of its technology that they guarantee the confidentiality of any transaction on the internet. Electronic payment is so easy. Just follow the instructions as outlined in the easy guide to electronic bill paying as it takes through the process. Step-by step or visit their bill payment tutorial as new things come on-line, well announce in these new area. The customer can get to it from their name page or as the customer â€Å"exit† online banking. They also e-mail their customers when there are changes in their bank, who has online banking system, they also have own website. In this website they must have obtain of online. Any customer can take the benefit of online service from this website. Every online bank sends customer's last month transaction report at their home. So check this report, to see what’s cleared and what hasn't. Customer's â€Å"Account summary† will display whether a bill payment was rejected. Mobile banking is the modify color of online banking. Any customer can take the benefit of online banking by phone. Any customer can enjoy the fabulous features of online banking even when they away from the bank. Mobile banking is the smart choice for busy People on the move and if they are already on online banking customer. It's available at no additional cost. Mobile Banking with a palm handheld adds an exciting new dimension to online Banking. Now customer can enjoy all the ease, convenience, privacy and security of Online Banking through a handheld computer that fits neatly in customer purse or pocket it’s the financial Imagine the freedom and control of viewing customer financial picture any time of the day of night, in the privacy of customer's own surroundings. Check the balances of saving accounts, business banking accounts, lines of credit, or VISA' credit card accounts; †¢ Transfer funds between accounts. †¢ Check the balances and details of your loan and mortgage accounts †¢ Pay your bills, †¢ Obtain up-to- the minute account information. Online Banking is anywhere you have Internet access, so it's never been more convenient to manage your finances. With online banking you can quickly and easily solution of the future and its there right now system Check your account activity and balances. †¢ Transfer funds and receive and pay bills. †¢ Contribute to your RRSP and double up on your mortgage payments †¢ Plus so much more. l management Enjoy all this convenience and control within the safety, security and privacy of Online Banking 24 hours a day, 7 days a week. 6. 2 Service Provided by Online Bank Most of the online Banks have the equivalence in the services. Considering the services of banks given, we can show the view of services offered based on the following forms given bellow: Services available | |Basic (Most bank offer) |Advanced (some banks offer) | |Check account balances |Apply for loans | |Transfer funds among accounts |Download information about accounts | |Pay bills electronically |Trade stocks or mutual funds | | |View images of checks and deposit | 6. 3 Description of Online banking service Online Ban king Service is an electronic service provided via the Internet that permits customer authorized access to Access information about certain deposits and credit accounts for which customer are authorized to view information. †¢ Transfer funds between authorized accounts. †¢ Request and receive confirmation of stop payment on a check. †¢ Enter an order for customer personal checks according to check order information on file. †¢ Download transaction information to personal financial management software or spreadsheet. Communicate with the Bank using the online Banking E-mail Feature. The service is provided free to charge except for Online Bill Payment and stop payment orders. The Bank may offer additional services in the future, which will be subject to these terms and conditions as from time to time modified. Fees and charges for online Banking Services and Bill Payment will not be changed without at least 30 days prior notice and shall be charged to customer acc ount. The service is generally available 24 hours a day, seven days a week; however, the service may be unavailable from time to time for routine software and hardware maintenance or due to unscheduled down time. 6. 4 General terms and conditions Anyone agree to indemnify, hold harmless, and defend this bank from and against any and all claims, actions, suits, judgments, and expenses ( including court costs and reasonable fees of attorneys, accountants , and expert witnesses) at us sole expense, arising from us failure to abide by the restrictions on use of the Online Banking Services set forth herein. He agrees that the following uses of the Online Banking Services are strictly prohibited: †¢ Unauthorized communication of any account information to any other person or entity. †¢ Unauthorized communication of any information concerning any password or other online access number, code, or identification or any other proprietary information belonging to any other person or entity. Use of the Online Banking Services to copy or to distribute or transmit copies of copyrighted materials belonging to any other person or entity is permitted only to the extent that the owner has provided express permission to the user Permit ting such activity and the Bank has also approved such use in advance. Copying or Distributing or transmitting copyrighted materials other than with permission as specified above is expressly prohibited. †¢ Communicating any absence or defamatory information. †¢ Use of the Online Banking Services in violation of any telecommunication, postal, or other local laws or regulations of the user's †¢ Any use of the Online banking services for any purpose other than conducting banking business pertaining to us account (s) with regarding Bank. 6. 5 Limitations and liabilities The Bank and its suppliers make no warranties or representations of any kind with respect to the Online Banking Services, whether express or implied including but not limited to merchantability or fitness for particular purpose and neither the Bank nor the Bank's suppliers nor anyone else who has been involved in the creation, production or delivery of the Online Banking Services assumes any responsibilities with respect to his use thereof. No oral or written information or advice given by the Bank, the Bank's suppliers or any of the Bank’s agents or employees shall create or increase the scope of a warranty or in any way decrease this limitation and he may not rely on any such information or advice. He explicitly agree that any liability of regarding Bank arising from the provision of Online Banking Services is limited to the fee he paid the Bank for the transaction which gave rise to the alleged liability. He expressly waive any claims for additional consequential, incidental, compensatory or punitive damages and agree that the damage provisions set forth herein are commercially reasonable in light of the value of such Online Banking Services (including the possibility that the fees he paid hereunder may not be sufficient to fully compensate for all losses, but such fees are in an amount as to make it unfeasible for us to be responsible for greater damages). Any cause of action concerning the online banking services or online bill payment services under the agreement must be commenced within one year after such cause of action has occurred and be filled the circuit Court of the sate of Oregon for Baker country. 6. 6 How does online banking work? Online banking offers many chances for consumers to do certain transactions over the Internet. They allow them to use online features, which are available on the web such as checking their account balance and other types of transactions. To use Internet features, consumers have to log in and type their account number with the password. This will enable them to view all the information they need of their accounts and by clicking on the type of transaction, they want. In addition to that, most online banks provide a proper privacy of the information related to consumers and maintains security aspects. There are many services that can be presented by the banks over the Internet instead of viewing accounts for consumers around the world. Paying bills electrically is also one of the most effective features of online banking. Consumers do not need to wait until receiving mails of bills if they use the electronic way of payments. More over, online banking can serve their customers with transferring their money between accounts, which could be as a real transaction in dealing with traditional banks. They also can contact their branches over the net by sending emails if they face any problem or ask for farther information. Architecturally, bank may design its Online Banking system in two ways: Central Server System Distributed Server System Considering the facts of telecommunication infrastructure, distributed system is preferred solution. So that, one branch can do its transaction and customers can get service even if the communication is disrupted. The foreign banks in our country use central Server concept. In these systems, all the branches log in the central server and perform transactions. Solid communication line is required for central server system. If the line is down, transaction hamper2. 4 Critical evaluation of online banking. 6. 6. 1 Bill payment services This applies to all checking accounts for which Online Bill Payment Service has been requested. He authorize regarding Bank to transfer funds in accordance with his payment request. Payment (s) will be deducted from his checking account and transferred to a designated vendor/merchant account based on the electronic instructions he authorize. The Bank will execute his request when instructed by him or his authorized representative, subject to the terms of this agreement and applicable disclosures. Consumer funds transfers are also subject to the Electronic Funds Transfer Act (EFTA). 6. 6. 2 Security procedures The Bank's financial standard security procedures are to request one’s online banking users ID code and password. User may change his/her password at anytime while online. He agrees that any use of the Online banking services indicates his acceptance of the Bank's security procedures. He agree that any request acted upon in good faith by the Bank in compliance with these security procedures whether or not authorized by him, shall be treated as his authorized request whether he paying his bills with Online Banking trading stocks with Action Direct Net Action or submitting a credit card application online, regarding bank financial group members have gone to great lengths to ensure your confidentiality and security. They use several layers of robust security methods including encryption, firewall and timed long outs among others to ensure his personal and financial information are kept private and confidential. With respect to his Online banking sessions, as an extra measure of security, confirmation numbers are issued with every transaction. To protect his password and online Banking session, they employ state of the art encryption technology. Encryption is presently the most effective way to achieve data security. That is why your browser must be compatible with 128-bit encryption in order to access Online Banking. Client privacy is an important issued both to him and to them regarding Bank is committed to respecting the confidentiality of them customer’s personal business and information. 6. 6. 3 Recording and records The user authorizes the Bank to record electronic transmissions between the Bank and him or any person acting on his behalf, to keep those records as long as we consider it necessary. If the bank records about a payment are different than the users records, recordings, including, but not limited to any payment instructions received by the bank. 6. 6. 4 Methods used to make the funds transferred The Bank may select any means for the transmission of funds which we consider suitable, including but not limited to Automated Clearing House (ACH). You should anticipate that payments made by ACH might take up to 4 days to be credited; other payments may take up to 10 days to be credited. The Bank is not responsible for performance failure as a result of a delay or interruption in transfer facilities, labor disputes, power failures, equipment malfunctions, suspension of payment by another bank or payee, refusal or delay by another bank or payee to accept the funds transfer, war , emergency conditions, fire , earthquake, or other circumstances not within our control. These difficulties may extend the time when payments are credited. 6. 6. 5 Incorrect instruction He agree that he are solely responsible for giving them correct instructions with regard to the account his wish debited, the time of payment, the amount of the payment and the correct payee. He furthermore agree that his obligation to pay the Bank the amount of the payment made on his behalf is not excused by his failure to give us accurate or proper instructions. He agrees that the Bank will not be responsible for any delay arising out of our attempt to obtain correct instructions. 6. 6. 6 Receipt, acknowledgement and execution of request by bank Payment request are considered received by the Bank after providing he with a confirmation number for his payments (s) and his payment (s) have been confirmed as correct by him at the end of the Online Bill Payment session. The Bank must have a certain amount of notice before paying a bill. In order to execute his order to pay a bill on the same day the request is received, the Bank must have the request before 12:00 noon, Pacific Time, of that day. If the request to pay a bill is received after 12:00 noon, Pacific Time, the request will not be made until the next banking day. 6. 6. 7 Payment of bank When the Bank makes him requested payment he authorized the Bank to automatically and immediately deduct form his checking account the amount of the payment. He also agrees that the Online Bill payment transaction fee will be automatically deducted from his account on a monthly basis. 6. 6. 8 Rejection of payment The Bank has a right to reject his request for a payment for reasons including but not limited to: insufficient funds or uncollected funds in the amount specified in his request; the Bank's inability to execute the funds transfer for the reasons set out above titled Method Used to Make the Funds Transfer or incorrect or incomplete instructions given by you. He recognizes that the payee may be advised of the reason a payment is reject. 6. 6. 9 Cancellation or amendment of payment If the Bank has received his payment request and he later decides he you want to cancel or amend that payment, he may be able to revise his payment transfer instructions. He will not be able to cancel or amend his bill payment request if it has already been executed by the Bank. The Bank shall have no liability if such cancellation or amendment is not effected, and he agree to indemnify and hold the Bank harmless from any and all liabilities, costs and expenses (including court costs and reasonable fees for attorneys, accountants, and expert witnesses) the Bank may incur in attempting to cancel or amend the payment. 6. 6. 10 Confirmation of payment execution and account statement All payee payments executed will appear on his monthly checking account statement. He should review his statement, or other notice, for any discrepancies in connection with his payments. If he thinks a payment was made incorrectly form his checking account. He must contact Pioneer Bank in writing upon discovery of the error or within 60 days after he receive the first statement or notice which has the discrepancy, whichever is earlier. Failure to do so will reliever the Bank of any obligation to compensate you for his losses and expenses directly related to the erroneous payment. 6. 6. 11 Duty of reasonable care The Bank shall exercise good faith and reasonable care in processing his payments. He shall similarly exercise good faith and reasonable care in observing and maintaining security procedures, in communicating payment requests to the Bank, and in reviewing Bank statements for any discrepancies. The Bank will use reasonable efforts in attempting to cause creditors to reverse any service fee or late charge, which is related to payment processing error or delay. He also understand that the Bank will not be responsible for any loss or penalty that he may incur due to lack of sufficient funds or other conditions that may prevent the withdrawal of funds from his account or cause delays of errors in his payments. He understand that the Bank will not honor any request to pay when there are not sufficient funds available for withdrawal of funds form his account or cause delays or errors in his payments. He understands that the Bank will not honor any request to pay when there are not sufficient funds available in his account. The Bank's rules on when deposited funds are available for withdrawal are outlined in the information he received when opening your accounts (s). 6. 6. 12 Limitation of liability He explicitly agree that any liability of regarding Bank arising from the provision of Online Bill Payment Services is limited to the fee he paid the Bank for the transaction which gave rise to the alleged liability. He expressly waive any claims for additional, consequential, incidental, compensatory, or punitive damages and agree that the damage provisions set forth herein are commercially reasonable in light of the value of such Online bill Payment Services (including the possibility that the fees you paid hereunder may not be sufficient to fully compensate for all losses, but such fees are in an amount as to make it unfeasible for the Bank to be responsible for greater damages) 6. 7. Features of online banking The features available from an on-line bank account are similar to those which are avail able via ‘phone banking or visiting the local branch. on-line banking features do differ between the banks, but usually include: 6. 8 The major principles are: 6. 8. 1 Online Bank ing Principles Supplement to consumers Union policy on Electronic money and Banking security: 1. Providers of on-line financial services should provide sites that are secure. Secure sites should include the most effective existing protections such as passwords and encryption, and should be routinely reviewed and updated to ensure that new security features are added as they are developed. 2. Financial services providers should be vigilant to expose imposters using their names or similar names to include consumers to reveal personal financial information. 3 . Federal and state regulations should carefully scrutinize the operating practices, security and solvency standards, and privacy policies of both on-line providers of financial services and of third-party providers, contractors and subcontractors. 4. Financial services entities should take responsibility to make the consumer whole for losses from computer crime not caused by the consumer; for security breaches; for failures and losses caused by third parties selected by the financial services entity or by its subcontractors; and for losses contributed to by the financial institution's sharing of customer data internally, with an affiliate, or with a third party. 5. Providers of on-line financial services should accept the responsibility to try to prevent, detect, and eradicate viruses and other security breaches. Viruses sometimes cannot be prevented, but some on-line banking contractors offered today attempt to eliminate all responsibility on the provider even to try to do so. Because a consumer's ability to access funds needed for daily living can be affected by viruses and other security breaches, on-line financial services providers should accept more responsibility than is commonly accepted by web site providers of lower cost, less financially sensitive products. 6. Banks should take affirmative steps to make on-line banking services available in neighborhoods where access to on-line services is low. This may include providing access and training in community centers, housing projects, and urban high schools, as well as other creative approaches. 7. On-line banking channels should not replace other channels that permit in-person activity unless and until there is clear evidence that all demographic groups (including age and income groups) are in fact bearing equally well served by on- line banking as by other bank channels, including brick and mortar branches. 8. Banks who provide special offers to internet customers must also have an effective method to make those offers available to customers without access to the internet. 9. Access to on-line banking services should not be tied to the purchase of another product or service, or to high minimum balance requirements. 10 . Banks and insured financial service providers who accept deposits nationally should not restrict their Community Reinvestment Act areas to the physical location of their home offices. 11. Banks and other providers of on-line financial services should protect and respect consumers' financial privacy. Information about account numbers, account balances, transaction patterns, specific transactions or similar information should never be provided to third parties, affiliates or internal divisions without the express permission of the customer. Material used to check permission should desirable all of the types of information that might be shared and with whom the information might be shared. 12. Banks who use an opt-out method should provide a means to exercise the opt-out directly through the sign-up process, in addition to providing a phone numbers or other methods. The customer who knows he or she wishes to opt-out at the time of signing up for on-line banking should not have to take a separate step to do so. If opt-out is used, it must include the opportunity to opt-out from information sharing among both affiliates and internal bank departments, as well as with third parties. 13. Financial services providers should not condition the provision of on-line services upon consent to share financial information with an internal division, affiliate, or third party, except to the extent that the internal sharing of such information id both necessary for the provision of the service and fully disclosed to the consumer. 14 Financial services sites should never store information about the consumer in any location where it can be accessed by a third party. On-line financial services providers should fully disclose the nature and purpose of any electronic markets they propose to place in the consumer's system, secure the consumer's consent to place those markets, and permit the consumer to decline to accept such markets. 15. Banks and others offering uninsured on-line financial services should prominently and effectively disclose which services, accounts, or products are not insured by the FDIC. At a minimum, insured and uninsured products should not be offered on the same screen. When linking from an insured to an uninsured product screen, special care must be taken to identify the uninsured nature of the products offered through the link. Providers should test their customer base to evaluate the effectiveness of these disclosers. Regulators should actively enforce these requirements, and should conduct their own tests to evaluate the effectiveness of disclosers. 16. Banks and other FDIC-insured entities should never permit their names to be used by or licensed to uninsured entities, nor to be used by any third party in a fashion that creates an impression that a communication from the third party is from the Bank. 17. Increases in fees and changes in material terms should be accompanied by at least 30 days advance notice. The notice should be sent by a means calculated to actually communicate the information to the customer. Posting information on the bank's web site about new fees or changes in material terms is not sufficient. 18. Providers of on-line financial services should make their contracts available before the customer must give personal financial information and should make those agreements available in a form which the customer can download, print, and retain in a manner that shows what the agreement was when the consumer entered into it. 19. On-line bill payment services, whether or not associated with on-line banking, should clearly disclose on the screen which is used to schedule the payment the date and time that the payment will be sent and whether the payment will be sent electronically or by ordinary mail. 20. On-line financial services providers should use the power of the electronic environment to facilitate more effective consumer discloser and education. 21. On-line banking services should meet the consumer protection and other statutory requirements and restrictions of the consumer's home state. 22. Disputes arising from on-line banking and bill payment should be resolved promptly, and should be at least as prompt as the voluntary time frame of not more than five business days to re-credit disputed funds which have been developed for debit cards. 23. If an arbitration clause is used, it should permit the consumer to choose whether to agree to arbitration after the dispute arises, and should provide fair, cost-effective procedures for the consumer. 24. On-line bill payment services should not impose an earlier time for stop payments than the time the payment could be stopped if it were made by check. 25. Financial services providers who use electronic mail to communicate with their customers should provide two-way 26. Customers wishing to close their accounts should be able to do so with an instantaneous electronic transfer of funds to another designated account 27. On-line banking contracts contain to provision presuming that a consumer is in receipt of information simply because the bank has sent or posted met information. 6. 9 Types of online banking: The common assumption is that Internet banking is the only method of online banking. However, this is not strictly the case, as several types of services are currently available: PC Banking- The forerunner to Internet banking has been around since the late 1980's and is still widely used today. Individual banks provide software which is loaded on to an SME's office computer. The SME can then access their bank account via a modem and telephone link to the bank. Access is not necessarily via the Internet. Internet Banking- Using a Web browser, a user can access their account, once the bank's application server has validated the user's identity. Digital TV Banking- Using the standard digital reception equipment (set top box and remote control); users can access their bank account. Abbey national and HSBC services are available via digital TV providers. One of its main selling points is that no account details are transmitted via the World Wide Web. Text phone Banking- HSBC has introduced this service to allow customers with text phones to check their balance, pay bills and transfer money. Internet banking can be split into two distinct groups: Traditional banks and building societies use the internet as an add-on service with which to give businesses access to their accounts. 6. 10 Critical evaluation of online banking 6. 10. 1 Advantages of Online Banking For consumers ? The privacy of customers. ? Online services are available for consumers 24 hours daily during the whole week. ? Customers might save time and efforts of doing their finance transactions. ? It will be easy for them to view all information they need clearly and simply. ? Searching of any branch of a bank will be accessibly by online users. For Banks ? One way of attracting more customers is to use their services. Increasing the bank's reputation around the world is well known by many people. ? It doesn't need to employ lots of suffer or bankers to deal with customers directly. ? Banks can deal simply with their branches all over the world with one network. 6. 10. 2 Disadvantages of Online Banking For c onsumers ? Some people feel uncomfortable to provide their passwords or any kind of information about their funds over the internet. ? Some websites might be difficult for consumers for the first time to check their finance. ? It is possible for banks to update their websites, which needs from consumers to type in again their data. ? It is necessary to have knowledge and skills on using the Internet. For Banks Banks may require big amount of money to establish a website with attractive features. ? They may lose their information if the network broke with other branches. ? Hacking and viruses will cause problems for online banking, which could broke and damage the information or 6. 11 Channels of Online Banking There are so many channels of online banking to get the online operation accomplished within a few branches of a bank in banking sector. 1. Wide area network (WAN): 2. WAN by radio link (Communication using Radio Frequency): By introducing Radio Link communication network WAN can be set up between Head office and branch office. It is a point-to-point communication network, which uses radio frequency. Radio frequency of that particular bandwidth should take the approval from Bangladesh Telegraph and Telephone Board (BTTB). WAN through Radio linking provides 11 mbps bandwidth. 3. WAN by V-set (Very small Aperture Terminal): Online communication between two single nodes VSAT can be installed. For this, a fixed amount of fees is to be paid to the satellite company for renting bandwidth each year. 4. WAN by optical fiber backbone line: â€Å"WAN† can be set up by installing a switch consisting 72 Fiber Optic port at the place of Main Server that can make a connection directly with the Commercial Bank's Head Office server by putting the Optic Fiber Line but this is very difficult and expansive. Data can be transferred and received through a continuous speed. It costs near about TK. 90 million that is lower than the VSAT connection. 5. WAN by T&T leased line: These are simple copper wire leased lines provided by T&T. These connections are the most cost effective solution and provide sufficient data transmission speed up to 19. 2 kilobytes (kbps). 6. 12 The major types of business models are: |Brokerage |Advertising | |Infomediary |Merchant | |Manufacturer |Affiliate | |Community |Utility | Each type of those business models has individual way to be used by any business. For example. Brokerage model depends on helping both sellers and buyers with their transitions. Brokers charge for fees of doing transactions depending on the value of business. This model can be business-to-business (B2B) and business-to-consumer (B2C) and consumer-to-business (C2B). Advertising is another kind of business models that operates with web advertising such as creating banners of the business. Infomediary model is used by a business interested in having information about consumers and products. Online banking follows the merchant type as a business model to generate its revenue. They sell services and products such as loans, credit cards and other facilities against gaining charges and interests or commissions. It seems to be similar as traditional banks with its business model of operating their income but with electronic services it could be more simple and faster than traditional methods. This kind of model can be business-to-business (B2B) and business-to-consumer (B2C). This means that online banks can provide and help consumers with loans, paying bills, opening accounts, credit cards and other services. Furthermore, online banking can offer certain services for businesses with the loans that invested in such projects . 13. Current Banking Security System Security is a vital issue for all financial institutions. Banks that provide services to customer must ensure security so those customers are satisfied about bank. In a sense, bank is a business organization so it is also their responsibility to maintain everything securely. Banks also maintain lockers for safekeeping the most important valuable assets of customers. To serve that purpose, bank takes some rent from customer; the same rule exists for safekeeping money, which will be also discussed in this chapter. To ensure the E-banking, there are some security principles that have to be provided by Banks. Because there are many transactions occurring in electronic media, so without securing the banking activities banks cannot run. Security principles are: 01. Authentication Authentication is the process by which two parties involved in a dialogue are given a guarantee that they are indeed interacting with whom they think they are interacting. Authentication might be from both sides- server authentication and client authentication. 02. Confidentiality Confidentiality deals with protecting the contents of message or data transmitted over the Internet from unauthorized people. For example, one wants to protect his/her credit card information when he/she purchases over the Internet. 03. Integrity Data integrity is related to preventing data from being modified by an attacker. For Instance, only the credit card number is protected while the contents of the order (online) are not. Then, the attacker could potentially modify your order while it is being transmitted over the network by adding or deleting contents from the order or even changing the delivery address. 04. Availability It is also important to guarantee that authentic users of an e-banking site expect to get his service when he needs it. Sometimes an attacker might set up a program that continuously attempts to be authenticated by the bank. But the authentication will repeatedly fail. However, attacker would occupy precious resources of the site. These resources become unavailable to the legitimate customers of the bank. 05. Non-repudiation Non-repudiation is an attribute of secure systems that prevents the sender of a message from denying having sent it. This might very costly for e-businesses such as online trading which want to ensure that a customer will not be able to deny having requested to buy or sell securities. 7. 0 Online Banking in Bangladesh Foreign Banks: 7. 1 HSBC in Bangladesh The HSBC Asia Pacific group represents HSBC in Bangladesh. HSBC opened its first branch in Dhaka on 17th December 1996, to provide personal banking services, trade and corporate services, and custody services. Through a lobal network linked by advanced technology, including a rapidly growing e-commerce capability, HSBC provides a comprehensive range of financial services: personal, commercial, corporate, investment and private banking; trade services; cash management; treasury and capital markets services; insurance; consumer and busines s finance; pension and investment fund management; trustee services; and securities and custody services. HSBC is fully on line banking & without any hesitation I can say one thing that they are providing best services for the customers rather than the other foreign banks. Hexagon: Hexagon is an electronic Banking system through which HSBC group customers have access to information about their relationship with the group and may transact their business. The HSBC group recognizes that in order to maintain and enhance its position as a global financial service organization, it must continue to provide and promote a sophisticated global electronic banking system to both existing and new group customers. Hexagon may be used by small and medium sized businesses, large corporate, institute high net worth individuals and retail customers. The HSBC group is committed to the success and Hexagon and has allocated significant TSV and business resources to its development, management and marketing. Hexagon is run from three electronic banking computers (EBCs) is Hong Kong (HK), Buffalo (US) and Great Britain (UK), with links to group systems such as HUB and TREATS. The main features of Hexagon The products and services offered by hexagon to customer include: |Current account information |(CA) CA A1 | |Saving account information |(SA) SA A1 | |Loan account information |(LN) LN AI | |Credit care information |(CC) CC A1 | |Funds transfers (PA and TR) |PA/TR Payments | |Transfers Foreign exchange (FX) |FX A1 | |Time deposits (TD) |TD A1 | |Trade services | | |Imports and exports |IM/EX Report writer | |Documentary credits |DC import | The main benefits of Hexagon Hexagon gives customers direct access to there account 24 hours a day, 365 days a year from any where in the world. Benefits for customer include ? Increase in business efficiency ? Flexibility- the system may be tailored to the needs or particular customers; ? Easy to use, training is simple and no sophisticated equipment is required. 7. 2 Standard Chartered Bank Standard Chartered Bank’s online banking service is known as â€Å"I-Banking†. I-Banking offer the convenience of managing and controlling ones banking and finances – whenever he wants to, wherever it’s needed. I-Banking is convenient, simple and secure. I-Banking: Standard Chartered Bank’s I-Banking facility is simple and secure and it’s absolutely free of charge! With I-Banking, one can access any of the basic banking services he requires, 24 hours a day, 7 days a week, 365 days a years. I-Banking offers the following range of online service. Which makes the client’s banking accessible anytime and from anywhere. I-Banking includes the following services. ? Account services ? Fund transfers ? Payments ? Card services. ? Personal update Private Banks: 7. 3 Eastern Bank Ltd. Online Banking: Flex [email  protected] is the Internet banking solution that delivers the Corporate, Consumer and Investment Banking products to bank’s customers over the net. EBL’s Internet Banking module is a secure, robust and extensible web banking solution. It is anchored on a reusable component framework that complies with industry standards. Customers will be able to transfer funds, inquired balance, and request for chequebook, pay utility bills on-line etc. Internet Banking: EBL Internet banking application addresses the needs of small, individual and corporate account holders of the bank. This application provides a comprehensive range of banking services that enable the customer to meet most of their banking requirements over the net. List of Transactions: 1. Account Operations and Inquiries 2. Fund Transfers and Payments 3. Utility Bill payment 4. Deposits 5. Loans 6. Inquires and other services 7. Session Summary Deposits: ? Maintain deposits ? Request for rollover of deposits ? Request for premature closure of deposits Loans: ? Loan application requests ? Initiate part of full payment of loan ? View schedules of loan payments Inquiries and other services: ? Interest Rates inquiry ? Foreign Exchange Rates Inquiry ? Messages & Bulletins ? Internet Banking ? Product information ? Change password EBL with new ICT Infrastructure features: Essentially, EBL was not in a well-connected situation. Data communication was limited to secluded offices in a very limited fashion. EBL now is a different scenario. EBL HO is now connected with the branches all around Bangladesh. Here is a breakdown of what the data communication infrastructure looks like today: ? High Speed DDN and Radio Link connectivity between Branches and the Head Office ? Local Area Network (LAN)- providing data network connectivity at the Head Office and the Branches. ? Metropolitan Are Network (MAN)- connecting the DHK branches with HO, CTG branches with Agrabad and SYL branches with Chouhatta. ? Wide Area Network (WAN)- enabling the data network circle between Head Office and the Branches. ? Solid foundation over data and network security implementation. EBL Banking Benefits: Flex cube banking software automated in all branches of EBL has the adaptability for incorporating the delivery channels like, Internet Banking, Tele-Banking, ATM/POS, Home Banking, Wireless Access Protocol, Call Centre are all superb services which a customer can avail in due course. EBL’s repertoire of hardware is highly sophisticated; as no other banks in Bangladesh have availed this are recent times. The combination of hardware will help consolidate the backbone for the plethora of services provided to the customers by the Bank for the years to come. Moreover, EBL, country wish bade farewell to the lackluster range of hardware, which were in use over the year. ? Anywhere 24 hours ( 7 days banking ? Internet banking, Tele banking and ATM/POS ? One Stop Shop for all you banking need. ? Significantly reduced time in banking transactions Sophisticated customer information at the fingertips and can be provided anytime. ? Online Inter-branch Transfer ? Any Branch pay order Syste m ? Digital Signature/photo image while transacting ? Display Customers Balance, Transactions, and Statements online. ? Automatic Sweep in & out ? Locker Service Availability ? EBL 5 to 9 Extended Service ? Bill payment o Utility Service Bill o Tuition Fees o Mobile Phone Bills ? Versatile Products availability ? Fast Cash ? Fast Loan ? Auto Loan ? Consumer Loans ? High Performance Account ? Savings Insurance Account ? Monthly Income Plan ? Monthly Deposit Plan. Visa Electronic online debit card EBL Introduces the Visa Electron online debit card: Unique Features: 1. With EBL via Electron you can now draw cash from the Q-cash ATM network, 24 hours a day through out the year. No need to carry excess cash in you wallet. Your card is electronically linked to your EBL account. 2. EBL Visa Electron is also accepted at Visa merchants with Electronic P. O. S Visa Symbol, where you can pay for merchandise and services. 3. Acceptance- hassle free acceptance at network of Q-cash ATMs currently 10 and to be expanded up to 50 by July 204 and approximately 100 POS deployed in major cities. 4. Photo card- Displays your photo & signature on front of your card for enhanced security. 7. 4 Prime Bank Ltd. Online Branch Banking (Any Branch Banking) The Bank has set up a Wide Area Network (WAN) across the country to provide online branch banking facility to its valued clients. Under the Scheme, clients of any branch shall be able to do banking transaction at other branches of the bank. Under this system a client will to be able to do following type of transactions: ? Cash withdrawal from his/her account at any branch of the Bank irrespective or location. ? Cash deposit in/he account at any branch of the Bank irrespective of location. ? Cash deposit in other’s account at any branch of the Bank irrespective of location. ? Transfer of money from his/her account with any branch of the Bank. Any amount can be deposited or transferred under Prime Line. In the system, however, at present there is a limit for cash withdrawal through bearer or by account holder himself. Online Branch Banking Service: Is designed to serve its valued clients. Under this system, you shall be able to do the following type of transactions: ? Cash withdrawal from you account at any branch of the Bank. ? Deposit in you account at any Branch of the Bank. ? Transfer of money from you account to any other account with any Branch of the Bank. One Stop Utility Service Scheme Like any other country of the world, the people living in the urban areas of our country lead a very busy life. Time is very valuable to them. Despite this, they are to waste their valuable time at the counter of different Banks and other Institutions for payment of their monthly bills of different utility services like Electricity, Telephone, Water, and Gas etc. They, as such, face enormous difficulties for payment of their monthly bills in time. Such inconveniences of the urban people can be removed by making a management to collect all the bills of various utility services at One Point. Scope of Services: With this end in View, Prime Bank Limited has introduced a scheme entitle â€Å"One Stop Utility Services Scheme†. The scheme is designed to provide all the required services to the customer in making payment of their following bills on their behalf from the counter of the Bank: ? To pay Electricity Bills ? Cash deposit in his/her account at any branch of the Bank irrespective of location. Cash deposit in other’s account at any branch of the Bank irrespective of location. ? Transfer of money from his/her a ccount with any branch of the Bank. ? Any amount can be deposited or transferred under Prime Line. In the system, however, at present there is a limit for cash withdrawal through bearer or by account holder himself. Main features of Master Card Credit: ? Prime bank ensure high level of security by inserting your photograph on the card. ? 20 to 50 day’s credit from the data of transaction. When you receive you monthly statement, you can either choose to pay in full or just minimum due amount shown on the statement. No interest in charged if you pay in full within payment due date. 24 hours a day, 365 days world wide service. ? No joining/administrative fees. ? Waiver of annual fees for International Card: If you accumulate 20,000 Prime Bank Bonus Point for you Gold Card or 10,000 Bonus Point for you Silver Card in a year then you enjoy our Card without fees ($1 purchase: 1 Bonus). ? Waiver of annual fee for Local Card: If you accumulate 10,000 Prime Bank Bonus Point for you Go ld Card or 8,000 Bonus Point for you Silver Card in a year then you enjoy our Card without fees (Tk. 50/- purchase: 1 Bonus Point). ? The Highest Prime Bank Bonus Point holder can enjoy free air ticket Dhaka-Bankok-Dhka. (Business Class) ? Cash advance facilities. 1, 39, 00,000 locations accept Master Card worldwide. Facilities available wide the card: The card can be used for: a. Making payments to Merchants against purchase of all goods and services by the Cardholder from Merchant(s); and b. Availing Cash Advances: i. From any of PBL Branches or any member of Master Card of any Merchant authorized to make Cash Advances; as may be agreed upon by PBL or ii. By the use of the Card on any ATM of PBL or of Master Card. Subject to these terms and conditions and in compliance with such requirements, PBL, any Merchant or Master card may impose limitations and procedures as from time to time. 8. Role of Government This is particularly important for countries like Bangladesh where very little has been done in development these technologies and skills to promote and support online banking. The government can take the following policies to promote online banking in our country: 1. The intergovernmental agreement for harmonizing the rules and regulations that can help in smooth transformation of the world economy and expansion of a unified world market. 2. The regulations should simply foster competition, protect intellectual property and privacy, and prevent fraud to do businesses under whatever terms they agree upon. An international uniform commercial code is needed to simplify and encourage electronic commerce under consistent rules and rights. 3. Govt. an undertake perfect initiatives to construct feasible, platform of information technology within affordable capacity. Financial allocation should be more widen for global standard banking technology. 4. Adequate number of bank employee will ha ve both computer and banking aptitude and cognizance, suitable in the banking perspective to improve the banking sector. 5. â€Å"Tele-communication† sector is pre-conditions to make fastest online banking services. Unfortunately a tale-communication service of govt. is yet to reach to remote and rural area. 6. Frequent inflow of information technology in the shape of broad band internet access, sub-marine optical fiber utility processed, might be patronized by govt. apidly to step ahead in respect to information technology for enhancement of blessing of on line banking. As well, this linkage of internet service will be encouraging for implementation of online banking in Bangladesh. 7. A project of â€Å"software development† should be under process to continue the function of banking software and expertise of banking network. Thus, banks and bankers enjoy creating creditable, demanding and world standard services for the shake of greater interest of nation and economy . 9. Conclusion The main objective of this term paper was to come up with a feasible proposal for implementing nationwide E-banking as well as ensure security. To ensure security we proposed some of the security features that need to be implemented in various levels of the proposed infrastructure like application level security, IP level security, user level authentication as well as employee level authentication as it is very much needed to keep track who is responsible for transferring money from one account to another account. We have analyzed the problems of existing system and shown that our proposed system can overcome most of the existing problems: Currently in our country accessing and transferring fund from remote area is a difficult and time-consuming task. Naturally it now takes 3 to 25 days. The key point is to note that the fund to be transferred is kept idle for the delay period. The proposed framework very clearly shows that it is a huge loss of money when considered collectively. So, it gains a remarkable save both for the customers and banks. Letter of Credit (L/C) is an important service of a bank. It is directly involved in foreign trade. The more efficient and cost-effective the L/C operation is the better opportunity comes for foreign trade affairs which is a prime factor to escalate the national economy. Basically an L/C operation comprises of a number of sequential steps. Information Passing required for an L/C operation is now done by foreign courier services like DHL, FedEx etc. It requires much time compared with the electronic transaction. Moreover, an amount of TK 1000/= (on an average) is spent per L/C. Proposed online transaction system cuts down this charges almost to zero. It contributes a lot when a large number of L/C is considered (i. e. total no. Of L/C of a branch in a year). At the same time due to reduced processing time it increases the no. of L/C transaction. It is very frustrating to note that now few banks deceives the Central Bank by giving a wrong calculation of its total deposit. So, they deposit less money as CCR to the Central Bank. In our proposed infrastructure, the Central Bank is given the supreme mandate for any required information from any bank at any time without delay. It removes the risk of escaping or misleading the deposit of proper CCR amount. As a result Bangladesh Bank would be properly benefited. CIB (Credit Information Bureau) generation is another important factor especially for inland trading loan. Currently the process of CIB report generation is very complicated and time-consuming. Proposed system maintains an integrated database with his past transactions record. So it becomes a matter of few clicks and prints to generate CIB report. Besides faster computation it also assures that the information is authentic and updated. Another important factor for banking services is updating foreign exchange rate. Now each day the Central Bank announces the rates. Each bank gets information on an interval of 30 minutes. It ensures some sort of unexpected loss/profit for both banks and customers. The suggested system maintains a complete connectivity among all banks so the foreign exchange rate is always updated at each bank. 10. Recommendations As this research-based study on the â€Å"Online banking† lets me a provision to come to the closest contract of the original plot of this banking system. There are some recommendations to improvise the On-line banking in our country. 1) Autonomous Banking culture, reducing dependence on manual service, should be in abundance irrespective of govt. and non-Govt. rganization in association with ‘SWIFT’ to bring about the whole banking service for massive well being of people. 2) The report of taskforce with the title of â€Å"Banking sector reform† committee with 21 major clauses on score of extinction of horrendous and problem some context that usurps our banking sector, has elaborately expressed the imminent enactment of suggestions of taskforce for the be

An essay on the play Romeo and Juliet Essay

In the play we do not meet Romeo until after the fight in the street between the Montague’s and the Capulet’s, Shakespeare shows the audience the feud between the two families before he introduces the main character, Romeo. The first impressions we get of Romeo are that he is a loner and prefers to be on his own, rather then spending time with other people. Shakespeare shows this by making him seem solitary and distant, he also uses darkness to portray Romeos feelings, he does this when Montague describes Romeos actions â€Å"Shuts up his windows, locks fair daylight out and makes himself an artificial night†. Montague talks to Benvolio about Romeos troubles and describes his condition as an illness, Shakespeare shows this when Montague says â€Å"as willingly give the cure as known† this shows that Montague describes Romeo as being ill as he refers to a â€Å"cure† being able to help him. When Benvolio promises Montague to â€Å"know his grievance† the audience meets Romeo for the first time already with an idea about his character, that he is a loner and is depressed. When Romeo first appears he has a conversation with Benvolio, this tells the audience what is wrong with Romeo. Romeo tells Benvolio that his current state is because of unrequited love. Shakespeare shows Romeos emotions using a paradox â€Å"O brawling love, O loving hate† (the theme of love and hate is reoccurring through out the play) and â€Å"Feather of lead† these are examples of oxymoron’s (a paradox reduced to two words), they show that Romeo is in a confused and perplexed state, this could mean that Romeo does not fully understand his love for Rosaline and is bewildered by it. Romeo tells Benvolio that the love he feels for Rosaline makes him feel like some one else and he admits to loosing his grip on reality â€Å"I have lost myself; I am not here, this is not Romeo, he’s some other where. † This shows that Romeo is self absorbed and infatuated by Rosaline, this gives the idea that Romeo loves the idea of being in love. Although because his love is unrequited it makes him feel ill and depressed â€Å"sick man in sadness† this shows that Romeo is a romantic character who wants to be in love. Romeo seems to be suffering with his love for Rosaline â€Å"out of her favor I am in love† this shows that Romeo understands that Rosaline will never love him, the thought of this makes Romeo suffer which shows that his attitude to love is idealistic. Romeo seems to be enjoying the fact that he is in love and he would rather be unhappy in love then not be in love at all. Benvolio then tries to help Romeo with his feelings for Rosaline by counseling Romeo. Benvolio tells Romeo he will teach him â€Å"be ruled by me; forget to think of her† this shows that Benvolio cares about Romeo and wishes to help him, he also tries to instruct him to â€Å"examine other beauties† he says this to try an make Romeo fall in love with another person who may return his love. Romeo rejects these ideas this shows that he likes the idea of being in love and does not want to give it up. Benvolio tries to teach Romeo to forget about Rosaline by using a several proverbs â€Å"one fire burns out another’s burning† this means that he will forget all about Rosaline if he finds some one else to love. For this Romeo ridicules Benvolio by telling him simple cures for a simple wound. Romeo then goes on to describe the torment of unrequited love â€Å"shut up in prison, kept without food and whipped† this shows how Romeos unrequited love is making him feel, the pain that Romeo describes seems to have been exaggerated which shows that Romeo is obsessed by his own suffering. During their conversation one of the Capulet’s servants asks them to read out a party invitation as he cannot read. Romeo only goes to the party from heavy persuasion by Benvolio and the thought of seeing Rosaline. The thought of seeing her also cheers Romeo up. On his way to the party Romeo continues to show that his love for Rosaline is never ending, as he protests about having fun at the party because the pain from love is to much â€Å"Give me a torch. I am not for this ambling being but heavy I will bear the light† This shows that he does not want to partake in the dancing or have fun and he also refuses to be cheered up further (in the time this was written bearing the torch meant that the person would not have to dance). Romeo uses puns to describe how he feels about dancing at the party â€Å"With nimble soles; I have a soul of lead† this shows that Romeo is still showing the pain he feels. He claims that he will not be hit by cupid’s arrow which shows that he does not think he will love anyone else. When Romeo reaches the party he meets Juliet for the first time. He falls in love with her when he first lays his eyes upon her, this makes the audience feel that Romeos love for Rosaline was not true but what he feels for Juliet might be, at this point Romeo forgets all about Rosaline this shows Romeo is fickle in love. Romeo then uses images of light and dark to describe how she stands out from the rest of the people at the party â€Å"She hangs upon the cheek of night, as a rich jewel† Romeos language no longer seems forced but genuine this shows that he is a romantic person who has truly fallen in love. Romeo and Juliet share a sonnet the first time they meet, Romeo describes him self as a pilgrim worshipping a shrine which symbolizes Juliet, â€Å"this holy shrine, the gentle sin is this. My lips, two blushing pilgrims† this shows the true love that the two feel for each other. At the end of the sonnet Romeo kisses Juliet, but before they kiss again Juliet’s maid takes her away to Lady Capulet (Juliet’s mother), when this happens both Romeo and Juliet realize that their families are enemies. Romeo then states that â€Å"my life is my foes debt† this shows that his life is now in Juliet’s hands and is out of his control, this again shows that Romeo is truly in love with Juliet as he is going to wait and let Juliet control him. In conclusion Shakespeare reveals Romeos attitude to love in many different ways he shows that he is ruled by his emotions and is not rational when it comes to love. He also shows that Romeo is fickle in love; he also seems to like the idea of being in love and enjoys the suffering he feels from unrequited love. He shows that Romeos love is unpredictable as he forgets about Rosaline all too quickly; this shows that Romeo may be genuinely falling in love for the first time. I think Shakespeare has portrayed Romeos character well as he shows a number of different emotions and uses different techniques portray his ideas of the character Romeo.

The Number Of People Unemployed - 1909 Words

The number of people unemployed is defined by economists as â€Å"those of working age who are without work, but who are available for work at current wage rates.† If the number of people who are unemployed is worked out but needs to be displayed as a percentage, then it is a percentage of the total labour force. According to Sloman, the labour force is defined as: â€Å"those in employment (including the self-employment, those in the armed forces and those on government training schemes) plus those unemployed.† According to the Labour Force Survey the rate of unemployment is estimated to be 5.9% for the period of July-September 2015 which is the most recent figure to date. This rate of unemployed fell by 0.6% from the previous quarter. There are a number of different types of unemployment which is due to a number of causes. One type of unemployment is structural unemployment. This is a result of a mismatch of skills they have and what the new skills are needed to move into a new job. This type of unemployment happens when there is a long-term decline in demand within a particular industry which leads to demand for jobs to decrease as there is fewer jobs. An example would be the ship building and textile industries in Belfast. Those who are economically active are no longer trained how to build ships as there has been a long term decline within this industry. Since there was a long term decline in ship building, those who were employed in this industry may have little use with theirShow MoreRelatedCauses And Effects Of Unemployment1611 Words   |  7 Pagesunable to find any work. In addition, to define a person as unemployed, the person must be an active member of the labor force in search of work. (Encyclopedia B ritannica, 2012) Unemployment can be caused by several different factors. Depending on the reasons for unemployment, they are classified as such: frictional, structural, and cyclical. There will always be a certain number of people that are frictionally or structurally unemployed due to varying reasons in the economy. Frictional and structuralRead MoreUnemployment And The Economy By Emily B. Irwin1329 Words   |  6 Pagesforce in every economy – wages paid for labor promote consumer spending and the output of that labor is critical to a company’s success. Similarly, unemployed workers represent wasted potential production in the economy. Therefore, individuals are directly affected by unemployment and it is a significant economic concern.† (Simpson, 2011) Because most people rely on income generated by â€Å"working† to maintain their standard of living, the loss of employment often directly threatens to reduce that standardRead MoreThe Real Unemployment Rate1014 Words   |  5 Pagesactually the true figure, or is the real number being misrepresented? In effort to answer this question, one has to understand the breakdown of the U.S. population as it relates to the actual labor force. One also has to comprehend who the government considers to be unemployed. I will be analyzing the current statistical numbers provided by the BLS, as well providing a detailed analysis of the government’s perspective as to what is deemed to be employed and unemployed. As mentioned in our text, EconomicsRead MoreThe Unemployment Of The United States1026 Words   |  5 Pages In the United States, the unemployment rate measures the number of people actively searching for employment as a fraction of the labor force. While things seem to be looking up for the economy with lower gas prices and grocery bills are decreasing, unemployment still seems the plague the country. Only 63 percent of working-age Americans have a job or are actively looking for one -- the lowest share of the population participating in the labor force since 1978. (The population of working-age AmericansRead MoreLabor Is A Driving Force921 Words   |  4 PagesLauren Lawson Dr. Scott Testa EC201.3 December 1, 2014 Unemployment in America Labor is a driving force in every economy. Wages paid for labor helps increase consumer spending and is essential for companies. Unemployed workers represent wasted potential inside an economy. Unemployment arises when factors of production that are willing and able to produce goods and services are not actively engaged in production. Unemployment means that the economy isn’t meeting its goal of full employment. ThereRead MoreUnemployment And Its Impact On The Nation s Unemployment Essay1712 Words   |  7 Pagescountry and also is one of the biggest problems that we have as well. In essence it is the state of being unemployed. There are three total types of unemployment: frictional, structural and cyclical. The latest unemployment rate reported by the Bureau of Labor Statistics (BLS) was 4.9% in January. The way that we measure unemployment is BLS conducts a national survey that is random to a number around 60,000 households. They do this to determine who is employed and who is not employed. The surveyRead MoreUnemployment : A Social And An Economic Threat1127 Words   |  5 PagesUnemployment has become both a social development and a global economic threat. According to the International Labor organization (ILO) report released in 2007, more than one people are working on low wage or are underemployed, as another 178 million is unemployed (Assaad Roudi-Fahimi, 2007). In 2009 the number of unemployed people increased to 212 million. There are many causes that have contributed to unemployment. Some of the key concerns of unemployment are increase in technological change, populationRead MoreProblems Caused By Overpopulation Is The Rise Of A Place Populated With Excessively Large Numbers879 Words   |  4 Pagesexcessively large numbers’. It is considered a problem in man y senses, since it causes a number of issues for various different reasons. One major issue caused by overpopulation is the rise of unemployment. This is when people actively seeking employment or just people that are able to work remain unemployed. Overpopulation causes this because the amount of jobs available would be the same as before the city became overpopulated, meaning that there wouldn’t be enough jobs for the amount of people needing oneRead MoreInvestigative Report On Labour Market Trends1690 Words   |  7 Pagesthe bargaining power. What is Unemployment? The workforce is separated into two sections, the employed and the unemployed. An individual is defined as being employed if they work for one or more hour each week. An individual is defined as unemployed if they are currently available for work, currently searching for work and are unable to find it. As a result of an individual being unemployed, labour resources are not being utilised to their full potential in an economy. Nature, Causes and Effects ofRead MoreUnemployment is Harmful to the Health and Well-being of Families597 Words   |  3 Pagescontributing factors to consider why the unemployment rate remains so high. The unemployment rate has a lasting effect on people who have families to support. This document will review the different ways unemployment could be harmful to the health and well-being on families and of people. A weak economy is why todays unemployment crisis continues to grow and this affects people and their families. The Main Cause One of the major causes of unemployment today is the lack of capacity in the