Publication:
Capital Markets and E-fraud Policy Note and Concept Paper for Future Study

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dc.contributor.authorKellermann, Tom
dc.contributor.authorMcNevin, Valerie
dc.date.accessioned2012-06-25T17:40:42Z
dc.date.available2012-06-25T17:40:42Z
dc.date.issued2005-05
dc.description.abstractThe technological dependency of securities exchanges on internet-based (IP) platforms has dramatically increased the industry's exposure to reputation, market, and operational risks. In addition, the convergence of several innovations in the market are adding stress to these systems. These innovations affect everything from software to system design and architecture. These include the use of XML (extensible markup language) as the industry IP language, STP or straight through processing of data, pervasive or diffuse computing and grid computing, as well as the increased use of Internet and wireless. The fraud is not new, rather, the magnitude and speed by which fraud can be committed has grown exponentially due to the convergence of once private networks on-line. It is imperative that senior management of securities markets and brokerage houses be properly informed of the negative externalities associated with e-brokerage and the possible critical points of failure that exist in today's digitized financial sector as they grow into tomorrow's exchanges. The overwhelming issue regarding e-finance is to determine the true level of understanding that senior management has about on-line platforms, including the inherent risks and the depth of the need to use it wisely. Kellermann and McNevin attempt to highlight the various risks that have been magnified by the increasing digitalization of processes within the brokerage arena and explain the need for concerted research and analysis of these as well as the profound consequences that may entail without proper planning. An effective legal, regulatory, and enforcement framework is essential for creating the right incentive structure for market participants. The legal and regulatory framework should focus on the improvement of internal monitoring of risks and vulnerabilities, greater information sharing about these risks and vulnerabilities, education and training on the care and use of these technologies, and better reporting of risks and responses. Public/private partnerships and collaborations also are needed to create an electronic commerce (e-commerce) environment that is safe and sound.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/05/5800517/capital-markets-e-fraud-policy-note-concept-paper-future-study
dc.identifier.doi10.1596/1813-9450-3586
dc.identifier.urihttps://hdl.handle.net/10986/8952
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3586
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectAGENTS
dc.subjectANNUITIES
dc.subjectAPPLICATIONS
dc.subjectAUDITS
dc.subjectBAHAMAS
dc.subjectBENEFIT ANALYSIS
dc.subjectBROKERS
dc.subjectBROKERS/TRADERS
dc.subjectCAPITAL MARKETS
dc.subjectCOMMISSIONERS
dc.subjectCOMMISSIONS
dc.subjectCOMPUTER SYSTEMS
dc.subjectCONSUMERS
dc.subjectCOVERAGE
dc.subjectDEBT
dc.subjectDECISION MAKING
dc.subjectDEPOSIT INSURANCE
dc.subjectE-BUSINESS
dc.subjectE-COMMERCE
dc.subjectEMERGING MARKETS
dc.subjectFINANCIAL INFORMATION
dc.subjectFINANCIAL INSTITUTIONS
dc.subjectFINANCIAL REPORTING
dc.subjectFINANCIAL SYSTEMS
dc.subjectFRAUD
dc.subjectGOVERNMENT SECURITIES
dc.subjectINNOVATIONS
dc.subjectINSIDER TRADING
dc.subjectINSIDER TRADING
dc.subjectDEALING
dc.subjectINSURANCE
dc.subjectINSURANCE COMPANIES
dc.subjectINTEGRITY
dc.subjectINTERNAL CONTROLS
dc.subjectINVESTIGATIONS
dc.subjectMARKET RISK
dc.subjectMEDIA
dc.subjectNEGATIVE EXTERNALITIES
dc.subjectOIL
dc.subjectPATENTS
dc.subjectPAYMENT SYSTEMS
dc.subjectPOLICY MAKERS
dc.subjectPORTFOLIOS
dc.subjectPROGRAMS
dc.subjectRATES
dc.subjectREGULATORY FRAMEWORK
dc.subjectRISK MANAGEMENT
dc.subjectSAVINGS
dc.subjectSECURITIES
dc.subjectSECURITIES MARKETS
dc.subjectSECURITIES TRADING
dc.subjectSTOCK EXCHANGES
dc.subjectSTOCK PRICES
dc.subjectTELECOMMUNICATIONS
dc.subjectTHE
dc.subjectTRADER/BROKERS
dc.subjectTRANSACTION COSTS
dc.titleCapital Markets and E-fraud Policy Note and Concept Paper for Future Studyen
dspace.entity.typePublication
okr.crossref.titleCapital Markets And E-Fraud: Policy Note And Concept Paper For Future Study
okr.date.doiregistration2025-04-10T09:12:06.332875Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2005/05/5800517/capital-markets-e-fraud-policy-note-concept-paper-future-study
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.guid664531468320358452
okr.identifier.doi10.1596/1813-9450-3586
okr.identifier.externaldocumentum000090341_20050515121525
okr.identifier.internaldocumentum5800517
okr.identifier.reportWPS3586
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/05/15/000090341_20050515121525/Rendered/PDF/wps3586.pdfen
okr.topicFinance and Financial Sector Development::Financial Intermediation
okr.topicInsurance and Risk Mitigation
okr.topicBanks and Banking Reform
okr.topicEnvironmental Economics and Policies
okr.topicInformation and Communication Technologies::ICT Policy and Strategies
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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