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And they're sort of the central hub of the electronic funds transfer system.
A first approximation of security exposures in Electronic funds transfer systems can be done without delimiting their components.
The Bank of England found "sniffer" programs running amok in its electronic funds transfer system.
The application of cryptography(hidden or secret) to electronic funds transfer systems has shown that attacks may occur in different sub-systems.
Electronic funds transfer systems have three components; namely communication links, computers, and terminals(ATMs).
Electronic funds transfer system (EFTS) is one such system.
In theory, at least, these weapons could cripple the computer systems that control everything from the electronic funds transfer systems of banks to electric utilities to battlefield tanks.
IN Britain, however, people have less reason to deposit checks than they do in the United States, because the British electronic funds transfer system is more developed.
Computers and Banking, Electronic Funds Transfer Systems and Public Policy (Plenum Press, 1980).
For example, he would give them limited access to the Fed's electronic funds transfer system, used to send or receive large sums of money - an ability now limited to commercial banks.
One such example occurred in September 1995 where a Russian national allegedly masterminded the break-in of Citicorp's electronic funds transfer system and was ordered to stand trial in the United States.
The facility also housed the Culpeper Switch, which was the central switching station of the Federal Reserve's Fedwire electronic funds transfer system, which at the time connected only the Fed's member banks.
- Due to the December 2007 banknote shortage, funds transferred via Electronic Funds Transfer Systems (EFTS) bore a premium rate of about $4 million, while the cash transaction rate varied around $2 million.
For example, if a traveler should spend $200 for dinner for two and corporate policy calls for a maximum of $125, the electronic funds transfer system will debit the company account for $125 and the traveler's personal account for $75.
The PIN is used to verify the identity of a customer (the user of a bank card) within an electronic funds transfer system, and (typically) to authorise the transfer of funds, so it is important to protect it against unauthorised disclosure or misuse.