This includes fears that personal or financial information may be misused by web site operators, or by hackers who may intercept such information. Internet specialists say the problem of sending personal information safely has been solved. Sophisticated encryption technology scrambles information so well that not even the government can read it without obtaining unlocking codes from those who develop web browsers or electronic mail programs. And the question of credit card security will be solved next year when Visa and MasterCard bring their Secure Electronic Transactions protocol online, said Joseph Bailey, an Internet economist and author of Internet Economics , published by MIT Press in Boston. However, the problem of keeping other personal information private still remains unresolved.
Privacy relates to information about individuals.
Junkbusters is the developer of privacy-enhancing tools for use on the Internet. Because banks don't want more regulation, they have adopted an industrywide policy demonstrating their commitment to consumer privacy, said Tom Hall, an American Bankers Association spokesman. Industry policy explains protection available The policy says bank web sites should provide information concerning protection, collection, retention, disclosure, maintenance, security and employee access to account information. The hope is to see that information clearly displayed on every banking site on the Internet. The ABA will check web sites and place a notice telling customers whether a site is secure, he said.