Security as a legal obligation. Sarbanes Oxley in the European Union
Since the Sarbanes-Oxley Act there has been a worldwide focus on security issues in general.
This seems to suggest that security is a new kind of legal obligation, whereas this has been the case for all EU companies since the early nineties. On top of that, electronic banking involves a whole range of legal obligations in some way related to security that were already (and remain) applicable, despite a possible application of the Sarbanes-Oxley Act to some EU companies.
The criterion of what can be 'reasonably expected' from service providers as 'bonus pater familias', but equally also from customers, is becoming increasingly important.
Read the whole article here. I wrote this article for the Journal of Internet Banking and Commerce, Summer 2005, vol. 10, no. 2.
Free subscription to this journal about e-commerce: here
This seems to suggest that security is a new kind of legal obligation, whereas this has been the case for all EU companies since the early nineties. On top of that, electronic banking involves a whole range of legal obligations in some way related to security that were already (and remain) applicable, despite a possible application of the Sarbanes-Oxley Act to some EU companies.
The criterion of what can be 'reasonably expected' from service providers as 'bonus pater familias', but equally also from customers, is becoming increasingly important.
Read the whole article here. I wrote this article for the Journal of Internet Banking and Commerce, Summer 2005, vol. 10, no. 2.
Free subscription to this journal about e-commerce: here
posted by Edwin Jacobs at 21:20
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