Dr AbdelGadir Warsama Ghalib 7 Legal Counsel
Internet transactions are increasing around the clock everywhere. The fruitful useful impact of the internet usage has been proved, no doubt, in many electronic transactions including Internet banking.
Needless to say, the Internet banking depend to a large extent on the output of electronic software that requires proper utilization and implementation of the internet and its related fields
One of the main infrastructures needed, for the new technological services, is the legal platform and the legal framework that should be cemented carefully, with due diligence and professionalism, taking into account the experience of other advanced jurisdictions.
The e-banking will effectively enhance the expansion of business entities. However, we have to admit that Internet banking transactions are still facing some legal, commercial and logistical problems as, the payments system is still facing some practical difficulties, additional cost for freight, customs duties, insurance charges and postage, some companies may be out of competition because they are unable to display their products in an attractive way, many commercial entities or individuals are still facing computer literacy, some of the software companies inventing required Internet programs are facing certain legal litigation.
Above points explain that Internet banking is not without its share of obstacles. Some of these obstacles raise a call for positive legal steps to be taken, so as to prepare a healthy legal environment for such projects.
IT is facing certain criminal acts such as trespassing, hacking, robbery, theft, forgery, criminal misappropriation etc. These criminal acts and new cyber-crimes have increased dramatically.
Legally speaking, are we prepared to face such modern crimes? Do we have clear-cut definitions to what is known now as electronic or cyber-crimes? Do we have enough cybersecurity? As a matter of fact the relevant criminal laws, in most Countries, are not referring nor including clear-cut definitions to cover such modern sophisticated electronic crimes related to Internet banking. The absence of clear
definitions in the law for such misdeeds or crimes, could lead to ambiguity and doubts that could be taken to the benefit of criminal suspects.
According to the basic constitutional and legal principles there shall be no crime without a law and, also, no penalty without committing a criminal act according to the law. Taking these constitutional and legal principles in consideration, we strongly say that new laws should be issued to cover the new cyber-crimes that could happen due to the usage of new technologies that could be used according to the spread of e-banking projects. We need to fill-in the gaps by issuing modified laws, or new special laws to give proper technical definitions to such new electronic crimes, and at the same time, to provide for penalties according to the gravity of the crime committed. Issuing such laws or modifying the existing legislations will certainly create a healthy environment for e-banking transactions and all related services.
As a matter of fact, we could notice that banks are striving in electronising most of their banking transactions with the aim of giving modern, easy and fast services to their customers and the community. However, we have to say that there are certain legal issues or, if we could say, legal problems that could affect the natural process of the Internet banking and its normal development.
The electronic evolution in the information technology necessitates an urgent evolution and revolution in all related legislations and laws so as to fill the gaps to legalize the new electronic transactions and to face the new cybersecurity dangers.
Loose security measures would, certainly, threaten the process of Internet banking and all e-transactions. Cyber crimes and other similar white-collar crimes should be well defined along with the required cybersecurity measures and stringent penalties to combat such crimes.
Source: Dr AbdelGadir Warsama Ghalib 7 Legal Counsel