MANAGING THE RISKS OF PAYMENT SYSTEMS CHAPTER 7 potx

... encrypts the digest, uti- lizing the private key of the sender. The encrypted digest is the “digital signature.” The recipient of the message then uses the public key of the sender to decrypt the ... significant advantage of the use of a purchase card as part of an electronic procurement system is the ability of the card to authenticate the originator...

Ngày tải lên: 02/07/2014, 16:21

... the risks of the paperless payment systems. It is hoped that this book will contribute to the reader’s understanding of these systems. 5 New Frontier in Cyberspace MANAGING THE RISKS OF PAYMENT SYSTEMS Exceptions ... Government Payments 175 Risks of the ACH Payment System 177 ix Contents Evolution of Fiat Money in the United States 11 New York Cleari...

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... (U.C.C.), discusses the operation, the governing law, and the risks of check systems. In the United States, before the automation of proof machines and clearing systems, checks were processed manually. Many ... debit to the Federal Reserve account of the sending bank and a credit to the Federal Reserve account of the receiving bank and is final when the Fed no...

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... DEFINITIONS The drawer of the check is the customer of the bank. The drawer writes the check. The drawee is always the bank. The payee of the check is entitled to present the check for payment to the ... “Bounces”? If the bank “dishonors” a check— refuses to pay it the “suspension” of the obligation of the drawer to the payee stops and the holder...

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... payment orders.” The sender of the first payment order is the “originator,” and the first payment order is from the origi- nator to the originator’s bank. The ultimate recipient of the or payment date ... within 30 days of receipt of notice of the transfer. The bank receives a fraudulent payment order and pays the order without verifying the authenti...

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... bank. The payment is not due until the payment date, but the obliga- tion is incurred upon the bank’s acceptance of the payment order. 31 At the same time, the obligation of the originator to the beneficiary ... day of the bank following the payment date, • Within one hour after the opening of the day described in the first deadline, or • Within one...

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... Originator: Closing the Loop ACH Rule 4.4.4 requires the Receiver either (1) to credit the account of the Originator, as of the settlement date, with the amount of the entry credited to the Receiver’s ... a payment to the RDFI or the Receiver. The information must be provided by the opening of business on the second banking day following the Settlement Da...

Ngày tải lên: 02/07/2014, 16:21

... and execution of the originator’s payment order, 68 77 funds transfer charges, 72 73 liability of the bank for breACH of its funds transfer obligations, 73 77 notes to negotiators of wire transfer agreements, ... service offered. The risks of corporate payment systems are primarily and best managed by avoidance of risks preventing losses in the payment sys...

Ngày tải lên: 02/07/2014, 16:21

... shoved the vines and branches apart and put it in; then I done the same with the side of bacon; then the whisky-jug. I took all the coffee and sugar there was, and all the ammunition; I took the ... below the house and then dumped him into the river. Now I thought of something else. So I went and got the bag of meal and my old saw out of the canoe, and fetche...

Ngày tải lên: 15/12/2013, 09:15

... group of scholars, and the other with another. In a little while the two met at the bottom of the lane, and when they reached the school they had it all to themselves. Then they sat together, ... to the corner, give the rest of 'em the slip, and turn down through the lane and come back. I'll go the other way and come it over 'em the same way."...

Ngày tải lên: 24/12/2013, 14:16