Information Technology Acts: The US Patriot Act Of 1970

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Information Technology Acts xxxxxxx BCIS/220 Due: xx/xx/xx Teacher’s Name: Over the last 35 years information technology has proceeded at a staggering rapid pace. However, very often as new technology is introduced into the marketplace, government is slow to react toward the misuse and abuse of such. The government , in an effort to help protect and safeguard the public, executes specific laws or acts to ensure the proper usage of technology or to set forth rules as to how information is disseminated. Such public protections are set forth is both US Patriot Act of 2001, and Fair Credit Reporting Act of 1970. The Patriot Act was executed to protect against possible terrorist activities via the use of the internet. The Fair Credit Act…show more content…
Subsequent to the 2001 terrorist attacks on the United States, the government sought to be more proactive about safeguarding the lives of its citizens. The internet and the ease of electronic data transfers created an easy pathway for funding terrorist activities and organizing and coordinating various terror activity groups. Accordingly, the Patriot Act was established to “deter and punish terrorist acts in the United States and around the world, to enhance law enforcement investigatory tools, and other purposes” (US). There are several sections of the Patriot Act designed to protect, administer, and monitor various transactions and information that relate to potential terrorist activities that have previously been utilized using current information technology. These sections are identified in Table 1.1…show more content…
The Patriot act defines specific obligations for all financial institutions to report inconsistent cash activities. Online banking has led to a deeper concern regarding the securitization of transactions. Some may say that this act is an intrusion into personal liberties; however, technology and the unethical use of such, has changed the landscape. Background checks and formal validation procedures are now part of the financial culture to ensure personal protections. Fair Credit Reporting Act of 1970 The Fair Credit Reporting Act (FCRA) was enacted to “protect consumers from the disclosure of inaccurate and arbitrary personal information held by consumer reporting agencies” (Consumer Privacy, 2001, ¶1). Consumer reporting agencies are reporting agencies that collect information from consumers for credit evaluation purposes. The FCRA was designed to protect consumers from the dissemination of this sensitive personal information by the CRAs. The relevant sections of the Fair Credit Reporting Act are listed below in Table 1.2. Table 1.2 Sections of the Fair Credit Reporting Act in

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