Information Technology Acts Paper

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Information Technology Acts Paper
Today’s global business use information technologies to survive and prosper in this highly competitive environment. Information Technology relates to any computer based tool that people use to work with information and to support the information and information processing needs of an organization (Rainer & Cegielski, 2011). In this new digital econonmy, business rely heavily on information technology to keep things running smoothly. If not handled properly Information Technolgy can do as much damage as it can good to the image of a business. The use of Information Technology raises many ethical issues, ranging from monitoring email to invading the privacy of millions of customers whose data are stored in private and public databases (Rainer & Cegielski, 2011). Information Technology has advanced into what we now consider an essential part of our daily rountine. Even the government uses these tools to preform duties at the most highest level of business. For example the creation of the laws that we live by such as, the Computer Fraud and Abuse Act of 1986 and the Electonic Funds Tansfer Act of 1978.
Computer Fraud and Abuse Act. The Free Encyclopedia of Ecommerce (2013) states, the United States Computer Fraud and Abuse Act of 1986 served to define criminal fraud and abuse for computer crimes on the federal level. This Act is the primary federal legislation aimed at curtailing computer crime. It especially applies to interstate crimes that fall under federal jurisdiction. The act was designed to strengthen, expand, and clarify the intentionally narrow Computer Fraud and Abuse Act of 1984. It safeguards sensitive data harbored by government agencies and related organizations, covering nuclear systems, financial institutions, and medical records (Encyclopedia of Ecommerce, 2013).
Electronic Funds Transfer Act. The Electronic Funds Transfer Act is a federal law that protects consumers engaged in the transfer of funds through electronic methods. This includes the use of debit cards, automated teller machines and automatic withdrawls from a bank account. The act also provides a means of correcting transaction errors and limits the leability from any losses due to a lost or stolen card. This law was passed in 1978 as a result of the growth of electronic ATM machines and electronic banking. The use of paper checks has steadily declined since then, but the check served as hard evidence of payment. The explosion of electronic financial transactions created a need for new rules that would give consumers the same level of confidence that they had in the checking system. This includes the ability to challenge errors and correct them within a 60-day window, and to limit liability on a lost card to $50 if the card is reported as lost within two business days (Investopedia, 2013).