<p>One of the main trends in the IT field today is to provide more mobility to existing IT based systems and users. With this trend, more and more people are using mobile financial transactions due to a widespread proliferation of mobile phones and wireless technologies. One of the most important concerns with such transactions is their security. The reasons are based on weaknesses of wireless protocols and additional requirements for handling of financial data. These aspects make mobile financial transactions and applications even more vulnerable to fraud and illegal use than similar transactions performed over fixed networks.</p><p> </p><p>There are two important aspects related to security in mobile environments. First, security features provided by the communication protocols, such as GSM, SMS, Bluetooth, Mobile Internet, etc. are not adequate. Some security algorithms used by these protocols have even been broken, what requires upper layer applications to provide comprehensive protection in order to compensate the shortcomings of a transportation layer. Second, mobile devices have limited capabilities, limited processing speed, limited storage, etc, so that many security mechanisms are not suitable for mobile environments. Therefore, new, effective, lightweight and flexible security solutions are required.</p><p> </p><p>In order to solve these two groups of security issues, in this research we created a service-oriented security infrastructure for mobile financial transactions and applications. Based on this infrastructure, we also designed and implemented a system, which is called <em>SAFE</em> (Secure Applications for Financial Environment), that represents a secure, convenient and reliable large–scale infrastructure for mobile financial transactions. The components of the system are Secure Mobile Wallet and three <em>SAFE</em> servers: Communications (Gateway) Server, IDMS (Identity Management System) Server, and Payment Server. Those core infrastructure components with secure messages exchanged between them provide a number of secure financial services. These services may be used for various types of mobile transactions: m–Banking, m–Commerce, m–Ticketing, m-Parking, m–Loans, etc. all supported by additional Application Services Provider servers, connected to the <em>SAFE</em> security system. This report gives the details of the concept design and current implementation of the <em>SAFE</em> system.</p> / QC20100608 / Secure Applications for Financial Environments (SAFE) Project

One of the main trends in the IT field today is to provide more mobility to existing IT based systems and users. With this trend, more and more people are using mobile financial transactions due to a widespread proliferation of mobile phones and wireless technologies. One of the most important concerns with such transactions is their security. The reasons are based on weaknesses of wireless protocols and additional requirements for handling of financial data. These aspects make mobile financial transactions and applications even more vulnerable to fraud and illegal use than similar transactions performed over fixed networks.   There are two important aspects related to security in mobile environments. First, security features provided by the communication protocols, such as GSM, SMS, Bluetooth, Mobile Internet, etc. are not adequate. Some security algorithms used by these protocols have even been broken, what requires upper layer applications to provide comprehensive protection in order to compensate the shortcomings of a transportation layer. Second, mobile devices have limited capabilities, limited processing speed, limited storage, etc, so that many security mechanisms are not suitable for mobile environments. Therefore, new, effective, lightweight and flexible security solutions are required.   In order to solve these two groups of security issues, in this research we created a service-oriented security infrastructure for mobile financial transactions and applications. Based on this infrastructure, we also designed and implemented a system, which is called SAFE (Secure Applications for Financial Environment), that represents a secure, convenient and reliable large–scale infrastructure for mobile financial transactions. The components of the system are Secure Mobile Wallet and three SAFE servers: Communications (Gateway) Server, IDMS (Identity Management System) Server, and Payment Server. Those core infrastructure components with secure messages exchanged between them provide a number of secure financial services. These services may be used for various types of mobile transactions: m–Banking, m–Commerce, m–Ticketing, m-Parking, m–Loans, etc. all supported by additional Application Services Provider servers, connected to the SAFE security system. This report gives the details of the concept design and current implementation of the SAFE system. / QC20100608 / Secure Applications for Financial Environments (SAFE) Project

The goal of the diploma thesis is the characterization of the tax on financial transactions with its origins. The main content lies primarily in the description of the tax on financial transactions within the frame of the enhanced cooperation of some of the member states of the European Union and assessment of the assumed impacts of its implementation. The first chapter describes in more detail the development in the international field after the financial crisis which attracted attention to the various ways of taxation of financial sector. Options that were considered are briefly summarized in this chapter and then the detailed attention is paid to the path chosen by the European Union, i.e. the tax on financial transactions. The second chapter of the thesis examines the aspects of the enhanced cooperation and its specifics in comparison with the whole-union system. The chapter is finished with the case of the European Court of Justice where the claim of Great Britain disputing the conformity of the Council's decision approving the enhanced cooperation with the law and the principles of functioning of the European Union is decided. The main elements of the tax are analyzed in the third and the fourth chapter in accordance with the directives on which they are based. These two chapters which are more of the...

All human interaction can be depicted as exchanges. We exchange trivial information, feelings, assets and more. Valuable exchanges have one thing in common; they all require some degree of trust. In today’s society we rely on institutionalized trust when commencing an exchange of value. Typically, this role is filled by a vast ecosystem consisting of commercial banks, clearinghouses and other third parties. The recent rise of Bitcoin, Ethereum and consequent attention on the underlying technology, blockchain, questions the future of current ecosystem. This report aims at uncovering what blockchain is, what different implementations are currently available and how it would affect today’s ecosystem. It does so through semistructured interviews with actors within the current ecosystem as well as weighing in the views of blockchain evangelists. It highlights five key aspects that are crucial when implementing blockchain technology within the existing banking paradigm. Today’s organized societies require law and order which, to a large extent, is limited within the realm of public blockchain technology. With the insight of society’s infrastructural limitations, this paper argue that the current transaction system of our society favors a permissioned implementation with trusted nodes. Such a system would result in more efficient financial markets and lower costs of transacting. However, this paper acknowledge the virtues and reasons behind the rise of public blockchains. Given recent developments within the field and interesting concepts, the report does not dare to exclude a future of banking relying on public blockchain technology as the underlying database.

The Specifics of Use of Trusts in Business Relations This thesis deals with possibilities brought by trusts (in Czech: svěřenský fond) to business relations. It analyses the key features of a trust, thanks to which it has a unique and often irreplaceable position in number of financial transactions. Selected financial transaction are described in detail and the importance of trusts in these transactions is explained. The main objective of this thesis is to show that trusts have benefits far beyond the governance of personal property and its intergenerational transfers. By this I want to prompt interest in further research of the use of trusts in business relations in the Czech legal environment. After the introduction, the first chapter of this thesis briefly introduces the history of the trust. It is outlined which role the trust played in different legal systems and what were the motives for its development. The second part describes trust as an institute of civil law. There is also described the implementation of the trust into the legal system of the Canadian province Québec, because this regulation served as a model for the Czech lawmakers. This chapter of the thesis also describes the subjects of the trust and the basic concepts related to this institute. The third part introduces the trust...

The use of smart phones has changed the lifestyle of the society. Almost all kind of useful tools you can find on your smart phone. People used to buy goods every day. And for the purchase of goods they must pay. Security is very important while payment is concern. In this thesis we have designed and demonstrated a mobile phone application that can be used for a small shop or a big market. For any kind of commerce application, three different kind of entities are mostly involved: the customer, the sales person, and the management of the shop. Our designed mobile application has three different interfaces for three different kind of users: Manager Interface, Employee Interface, and Customer Interface. An interface for the system administrator is also designed, which should be used as an desktop application on the point of sale server. This application is flexible with capabilities of different payment options. Our proposed design can be implemented in any smart phone environment for example Android, iOS or Windows phone. This design provides availability, confidentiality, and integrity of payment data.

[pt] Em 1993, o governo federal adotou um tributo - IPMF (1993,1994) e CPMF (1997-2002) - sobre transações financeiras no Brasil. Usando uma amostra de 545 ações da Bovespa, mostra-se que, sob a alíquota máxima (0,38 por cento), o tributo implicou uma perda de 19 por cento do volume negociado. A queda do volume de transações afetou mais fortemente ações que se enquadram no estilo de investimento crescimento e ações de firmas que pagam menos dividendos. Este último resultado sugere que, ao gerar incentivos para uma maior distribuição de dividendos, a CPMF protegeu acionistas minoritários, apesar do aumento dos custos de transação. / [en] From 1993 to 2002, the Brazilian federal government levied a tax, CPMF, on all financial transactions in Brazil. Using a sample of 545 stocks, we show that, at its highest rate (0.38 percent), the CPMF reduced the volume of trade in the Brazilian stock exchange, BOVESPA, by 19 percent. The drop in the volume of trade was not uniform across the stocks; the CPMF affected more strongly growth stocks and stocks of firms that pay smaller dividends. These findings suggest that the CPMF provided incentives for public firms to improve their governance structure, despite increasing transaction costs.

Made available in DSpace on 2016-04-26T20:29:28Z (GMT). No. of bitstreams: 1 cpmf2.pdf: 476947 bytes, checksum: c2d6daa9f02fe774eb790bd662838462 (MD5) Previous issue date: 2005-06-27 / Pontificia Universidade de São Paulo / This study has the objective of showing the matrix-rule of the incidence of the Provisional Contribution on Financial Transactions; and the importance of this tax for the federal government fiscal planning, as well as its use as an inspection instrument for other Federal Government taxes. For this, we are using as base the technical concept of Professor PAULO DE BARROS CARVALHO, performing the epistemological cuts, going through the judicial system, right sources, fiscal nature and species and completing with the incidence matrix-rule. Conveniently, we will talk about the allocation of tax revenues to present conclusions about the Federal Government fiscal planning; in other words, to increase tax collection without passing through for other entities. After this, we will study the Provisional Contribution on Financial Transactions as an inspection instrument of the taxpayer income and we will conclude by making some considerations on zero tax rate, exemption and immunity. At the end, we describe all conclusions. / O presente estudo tem por pretensão traçar a regra-matriz de incidência da Contribuição Provisória sobre Movimentação Financeira e a utilização de seus dados para a fiscalização de outros tributos. Para tanto, pautamo-nos no conceito teórico do professor PAULO DE BARROS CARVALHO, realizando os cortes epistemológicos, passando pelo conceito de sistema jurídico, fontes do direito, natureza e espécies tributárias, findando com a regra-matriz de incidência. Ato contínuo, estudamos a utilização dos dados da Contribuição Provisória sobre Movimentação Financeira para a fiscalização de outros tributos. Por oportuno, discorremos sobre a repartição das receitas tributárias para concluirmos sobre um dos planejamentos tributários da União, bem como fizemos algumas considerações sobre alíquota zero, isenção e imunidade. Por derradeiro, traçamos todas as conclusões.

As consumer payment services have been developed at a rapid rate in recent years, the introduction to the market of decentralised, non-regulated cryptocurrencies has enabled a significant increase in acts of criminality in the cyber environment. Efforts to combat and curb the continued growth of such illicit activities have included the development, implementation and enforcement of legislation and regulations by governing authorities on a global scale. For the purpose of this thesis, interviews were conducted with several industry experts and governmental officials specializing in the use of virtual currencies for illicit financial transactions, namely fraud, money laundering and tax evasion. While the extent to which decentralised, non-regulated payment services actually contributes to illicit financial transactions remains unclear, it can certainly be said that as the use of new and emerging virtual currencies increases, so too will acts of criminality in the cyber world.

This doctoral thesis represents an investigation into financial fraud in online banking and card payment systems in the UK and China, involving network security, online financial transactions, internet fraud, card payment systems and individuals' perception of and behaviours towards electronic environments. In contrast to previous studies, the research questions were tackled by survey questionnaires both in the UK and China, with a particular interest in fraud and attempted fraud. The main findings from the UK respondents were that those with higher IT skill and younger respondents are more likely to be defrauded on the internet. Certain types of online activities are associated with higher risks of fraud, these being internet banking; online shopping and media downloading. Furthermore, four predictors (internet banking, online education services, downloading media and length of debit card usage) provided significant effects in the logistic regression model to explain fraud occurrence in the UK. Based on the data collected in China, younger respondents were more likely to have higher general IT skill and higher educational qualifications. However, online shopping was the only online activity which was significantly correlated to fraud occurrence. Finally, two predictors (frequency of usage of online shopping and number of debit cards) were selected in the logistic regression model to explain fraud occurrence in China.