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Galexia assists CHOICE with a joint submission to the 2007 Review of the Electronic Funds Transfer (EFT) Code of Conduct to ASIC - May 2007

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Galexia assisted CHOICE with its submission regarding the 2007 review of the Electronic Funds Transfer (EFT) Code of Conduct, as conducted by the Australian Securities and Investment Commission (ASIC).

Among the major issues considered by Galexia were the liability of parties in electronic funds transactions, particularly with regard to Internet banking. The project involved detailed technical advice on authentication techniques for electronic transactions.

The Submission was prepared by Galexia. Guidance, input and comments were received from a small reference group consisting of representatives of CHOICE, the Consumer Action Law Centre, the Centre for Credit and Consumer Law, the Australian Privacy Foundation, the Consumer Credit Legal Centre (NSW), Care Inc. Financial Counseling Service and Consumer Law Centre of the ACT. Funding assistance was received from the Australian Securities and Investments Commission Consumer Advisory Panel (ASIC CAP).

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