General Information
Electronic Banking Law is an elective subject in undergraduate programs offered by the Faculty of Law. This subject provides an introduction to the laws on e-banking, the legal issues of electronic funds transfers, evidential issues; legal issues on specific electronic fund transfer transactions and internet banking. A comparison of both international and Australian practices of e-banking will also be undertaken. Confidentiality, data protection, frauds, money laundering, financial terrorism and current pertinent issues in both domestic and international perspectives will be covered in this subject.
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Details
Academic unit: Faculty of Law Subject code: LAWS13-547 Subject title: Electronic Banking Law Subject level: Undergraduate Semester/Year: January 2018 Credit points: 10.000 -
Delivery & attendance
Timetable: https://bond.edu.au/timetable Delivery mode: Intensive Workload items: - Seminar: x1 (Total hours: 4) - Seminar 1
- Seminar: x1 (Total hours: 4) - Seminar 2
- Seminar: x1 (Total hours: 4) - Seminar 3
- Seminar: x1 (Total hours: 4) - Seminar 4
- Seminar: x1 (Total hours: 4) - Seminar 5
- Seminar: x1 (Total hours: 4) - Seminar 6
- Seminar: x1 (Total hours: 4) - Seminar 7
- Seminar: x1 (Total hours: 4) - Seminar 8
- Seminar: x1 (Total hours: 4) - Seminar 9
- Personal Study Hours: x12 (Total hours: 84) - Recommended Study Hours
Attendance and learning activities: You should attend all classes as there is a 20% class participation assessment. -
Resources
Prescribed resources: No Prescribed resources.
After enrolment, students can check the Books and Tools area in iLearn for the full Resource List.iLearn@Bond & Email: iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au
Class recordings: The primary workload items for this subject will be recorded for the purpose of revision.
These recordings are not a substitute for attending classes. Students are encouraged to attend all sessions as there may be instances where a session is not recorded due to the presence of a guest speaker, the inclusion of sensitive or protected content, or technical issues. Students are advised not to rely solely on these recordings for revision.
See the Recording policy for further details.
| Academic unit: | Faculty of Law |
|---|---|
| Subject code: | LAWS13-547 |
| Subject title: | Electronic Banking Law |
| Subject level: | Undergraduate |
| Semester/Year: | January 2018 |
| Credit points: | 10.000 |
| Timetable: | https://bond.edu.au/timetable |
|---|---|
| Delivery mode: | Intensive |
| Workload items: |
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| Attendance and learning activities: | You should attend all classes as there is a 20% class participation assessment. |
| Prescribed resources: | No Prescribed resources. After enrolment, students can check the Books and Tools area in iLearn for the full Resource List. |
|---|---|
| iLearn@Bond & Email: | iLearn@Bond is the online learning environment at Bond University and is used to provide access to subject materials, lecture recordings and detailed subject information regarding the subject curriculum, assessment and timing. Both iLearn and the Student Email facility are used to provide important subject notifications. Additionally, official correspondence from the University will be forwarded to students’ Bond email account and must be monitored by the student. To access these services, log on to the Student Portal from the Bond University website as www.bond.edu.au |
| Class recordings: | The primary workload items for this subject will be recorded for the purpose of revision. These recordings are not a substitute for attending classes. Students are encouraged to attend all sessions as there may be instances where a session is not recorded due to the presence of a guest speaker, the inclusion of sensitive or protected content, or technical issues. Students are advised not to rely solely on these recordings for revision. See the Recording policy for further details. |
Enrolment requirements
| Requisites: |
Nil |
|---|---|
| Assumed knowledge: |
Assumed knowledge is the minimum level of knowledge of a subject area that students are assumed to have acquired through previous study. It is the responsibility of students to ensure they meet the assumed knowledge expectations of the subject. Students who do not possess this prior knowledge are strongly recommended against enrolling and do so at their own risk. No concessions will be made for students’ lack of prior knowledge. Assumed Prior Learning (or equivalent):Admission into a Bachelor Law Degree OR Bachelor of Laws Combined Degree OR approved Study Abroad OR Exchange Student Anti-req LAWS13-482 - Electronic Banking Law |
| Restrictions: |
Nil |
Assurance of learning
Assurance of Learning means that universities take responsibility for creating, monitoring and updating curriculum, teaching and assessment so that students graduate with the knowledge, skills and attributes they need for employability and/or further study.
At Bond University, we carefully develop subject and program outcomes to ensure that student learning in each subject contributes to the whole student experience. Students are encouraged to carefully read and consider subject and program outcomes as combined elements.
Program Learning Outcomes (PLOs)
Program Learning Outcomes provide a broad and measurable set of standards that incorporate a range of knowledge and skills that will be achieved on completion of the program. If you are undertaking this subject as part of a degree program, you should refer to the relevant degree program outcomes and graduate attributes as they relate to this subject.
Subject Learning Outcomes (SLOs)
On successful completion of this subject the learner will be able to:
- Understand the law relating to electronic and internet banking, electronic funds transfers transactions, the payments and settlements system, and other current issues in electronic banking in both domestic and international contexts.
- Apply the law to practical situations in electronic and internet banking.
- Conduct research into current issues on electronic banking.
- Appreciate the importance of confidentiality, banking secrecy and data protection.
- Have awareness of fraud risk and the risk of electronic banking being used as a conduit for money laundering and the financing of terrorism.
Generative Artificial Intelligence in Assessment
The University acknowledges that Generative Artificial Intelligence (Gen-AI) tools are an important facet of contemporary life. Their use in assessment is considered in line with students’ development of the skills and knowledge which demonstrate learning outcomes and underpin study and career success. Instructions on the use of Gen-AI are given for each assessment task; it is your responsibility to adhere to these instructions.
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Assessment details
Type Task % Timing* Outcomes assessed Essay Research paper 60% Week 10 3 Essay Assignment 20% Ongoing 2 *Class Participation Class participation 20% Ongoing 1,4,5 - * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
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Assessment criteria
Assessment criteria
High Distinction 85-100 Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. Distinction 75-84 Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. Credit 65-74 Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. Pass 50-64 Usually awarded to students whose performance meets the requirements set for work provided for assessment. Fail 0-49 Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
| Type | Task | % | Timing* | Outcomes assessed |
|---|---|---|---|---|
| Essay | Research paper | 60% | Week 10 | 3 |
| Essay | Assignment | 20% | Ongoing | 2 |
| *Class Participation | Class participation | 20% | Ongoing | 1,4,5 |
- * Assessment timing is indicative of the week that the assessment is due or begins (where conducted over multiple weeks), and is based on the standard University academic calendar
- C = Students must reach a level of competency to successfully complete this assessment.
Assessment criteria
| High Distinction | 85-100 | Outstanding or exemplary performance in the following areas: interpretative ability; intellectual initiative in response to questions; mastery of the skills required by the subject, general levels of knowledge and analytic ability or clear thinking. |
|---|---|---|
| Distinction | 75-84 | Usually awarded to students whose performance goes well beyond the minimum requirements set for tasks required in assessment, and who perform well in most of the above areas. |
| Credit | 65-74 | Usually awarded to students whose performance is considered to go beyond the minimum requirements for work set for assessment. Assessable work is typically characterised by a strong performance in some of the capacities listed above. |
| Pass | 50-64 | Usually awarded to students whose performance meets the requirements set for work provided for assessment. |
| Fail | 0-49 | Usually awarded to students whose performance is not considered to meet the minimum requirements set for particular tasks. The fail grade may be a result of insufficient preparation, of inattention to assignment guidelines or lack of academic ability. A frequent cause of failure is lack of attention to subject or assignment guidelines. |
Quality assurance
For the purposes of quality assurance, Bond University conducts an evaluation process to measure and document student assessment as evidence of the extent to which program and subject learning outcomes are achieved. Some examples of student work will be retained for potential research and quality auditing purposes only. Any student work used will be treated confidentially and no student grades will be affected.
Study Information
Submission procedures
Students must check the iLearn@Bond subject site for detailed assessment information and submission procedures.
Policy on late submission and extensions
A late penalty will be applied to all overdue assessment tasks unless an extension is granted by the subject coordinator. The standard penalty will be 10% of marks awarded to that assessment per day late with no assessment to be accepted seven days after the due date. Where a student is granted an extension, the penalty of 10% per day late starts from the new due date.
Academic Integrity
University’s Academic Integrity Policy defines plagiarism as the act of misrepresenting as one’s own original work: another’s ideas, interpretations, words, or creative works; and/or one’s own previous ideas, interpretations, words, or creative work without acknowledging that it was used previously (i.e., self-plagiarism). The University considers the act of plagiarising to be a breach of the Student Conduct Code and, therefore, subject to the Discipline Regulations which provide for a range of penalties including the reduction of marks or grades, fines and suspension from the University.
Bond University utilises Originality Reporting software to inform academic integrity.Feedback on assessment
Feedback on assessment will be provided to students within two weeks of the assessment submission due date, as per the Assessment Policy.
Accessibility and Inclusion Support
If you have a disability, illness, injury or health condition that impacts your capacity to complete studies, exams or assessment tasks, it is important you let us know your special requirements, early in the semester. Students will need to make an application for support and submit it with recent, comprehensive documentation at an appointment with a Disability Officer. Students with a disability are encouraged to contact the Disability Office at the earliest possible time, to meet staff and learn about the services available to meet your specific needs. Please note that late notification or failure to disclose your disability can be to your disadvantage as the University cannot guarantee support under such circumstances.
Additional subject information
Subject curriculum
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Day 1: Introduction & Law, Legal Issues of EFT
Day 1: Introduction; Technological Developments in Banking; The Electronic Banking Revolution; What is Electronic Funds Transfer (EFT) and Examples; Relevant laws on EFT and E-Banking; EFT Systems.
SLOs included
- Understand the law relating to electronic and internet banking, electronic funds transfers transactions, the payments and settlements system, and other current issues in electronic banking in both domestic and international contexts.
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Day 2: Introduction & Laws, Legal Issues of EFT (cont.)
Day 2: Introduction on EFT; Consumer E-Banking; Corporate E-Banking; Inter-Bank E-Banking; Products; Legal Nature of EFT; Agency Relationship; Time of Payment; Countermand; Recovery of Incorrect Payments.
SLOs included
- Understand the law relating to electronic and internet banking, electronic funds transfers transactions, the payments and settlements system, and other current issues in electronic banking in both domestic and international contexts.
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Day 3: Evidential Issues; Legal Aspects of Specific EFT Transactions
Day 3: Statutory provisions; Admissibility of computer printouts; Admissibility of documents transmitted electronically; Telegraphic Transfers; SWIFT Transfers; Payments and Settlement Systems; Electronic Cheque Clearing System; Cheque Truncation and Imaging.
SLOs included
- Understand the law relating to electronic and internet banking, electronic funds transfers transactions, the payments and settlements system, and other current issues in electronic banking in both domestic and international contexts.
- Apply the law to practical situations in electronic and internet banking.
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Day 4: Legal Aspects of Specific EFT Transactions (cont.)
Day 4: Computerisation in Banking; ATM cards; EFTPOS; SMART Cards and E-Purse; Credit Cards, Debit Cards and Electronic Money; Home, Phone, Computer and Internet Banking; International Money Transfers and Mobile Payments;.
SLOs included
- Understand the law relating to electronic and internet banking, electronic funds transfers transactions, the payments and settlements system, and other current issues in electronic banking in both domestic and international contexts.
- Apply the law to practical situations in electronic and internet banking.
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Day 5: The Australian Payment and Settlement System
Day 5:The Australian Regulators and Intermediaries; Payments and Settlements; Laws and Developments in E-Payments.
SLOs included
- Understand the law relating to electronic and internet banking, electronic funds transfers transactions, the payments and settlements system, and other current issues in electronic banking in both domestic and international contexts.
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Day 6: Confidentiality and Data Protection
Day 6: Duties of Bankers; Secrecy; Data Protection.
SLOs included
- Appreciate the importance of confidentiality, banking secrecy and data protection.
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Day 7:Financial Crimes in Electronic and Internet Banking
Day 7: Financial Crimes; Types and Forms of E-Banking and Internet Banking Frauds Detection and Prevention of Frauds.
SLOs included
- Apply the law to practical situations in electronic and internet banking.
- Have awareness of fraud risk and the risk of electronic banking being used as a conduit for money laundering and the financing of terrorism.
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Day 8: Money Laundering and Financing of Terrorism
Day 8: How E-Banking is vulnerable to Money Laundering and Financing of Terrorism; The Problem Internationally; Risks; International Initiatives; Role of Regulators and Supervisors.
SLOs included
- Have awareness of fraud risk and the risk of electronic banking being used as a conduit for money laundering and the financing of terrorism.
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Day 9: Financial Crimes, Money Laundering and Financing of Terrorism (cont.)
Day 9: Managing Fraud and Money Laundering and Terrorism Financing Risks in E-Banking and Internet Banking; Compliance Programmes in Banks and Meeting Regulators' Requirements and Expectations.
SLOs included
- Have awareness of fraud risk and the risk of electronic banking being used as a conduit for money laundering and the financing of terrorism.