Publisher: LexisNexis Butterworths
Edition: 1st Edition (September 2004)
ISBN: 0-406-97624-4
Price: £105.00
With the recent trend of consumers bringing claims against financial institutions, it is important that banks, and their advisors, have a clear understanding of banking law. In particular, the boom of internet and online banking means that advisors should be aware of banking laws in both the real and virtual worlds. Internet Banking: Law and Practice provides the reader with exactly that knowledge.
The text is divided into ten main chapters, with chapters eleven and twelve discussing internet banking in Australia and Malaysia. Each chapter concentrates on a key topic: chapter ten, for example, discusses internet banking in the UK and the distribution of liability. Within each chapter, the material is broken-down into manageable sections allowing the reader to quickly understand the basic points. The author also makes excellent use of bullet lists and extracts from a bank’s terms and conditions. Readers should, however, remember that the Banking Code 2003 (referred to in this text) has since been replaced by the Banking Code 2005.
Internet Banking: Law and Practice is written in a very lucid and engaging way. The key principles are well written and clearly explained. The author makes fantastic use of footnotes and refers the reader, where appropriate, to excellent articles. This allows the reader to quickly undertake additional research. The text also includes two very welcome appendices: Electronic Funds Transfer – Code of Conduct and Minimum Guidelines on the Provision of Internet Banking Services by Licensed Banking Institutions. It would, however, have been helpful to include the Banking Code.
Internet Banking: Law and Practice is extremely well written, explaining the key internet banking law principles in a logical and clear way. By explaining the principles in this way, it quickly allows the reader to understand the law and issues and apply them to problem situations. I unreservedly recommend this text to anyone interested in, or practising, this area of law.
Reviewed on 9 December 2007