Invention of the Email and Bank Secrecy Act Essay

Invention of the Email and Bank Secrecy Act - Essay ensampleGlobal communication has become indispensable in human society as it determines the relationship amongst people belonging to different nations and cultures. An important mode of communication is the email. It is an electronic method of transmitting messages from iodin part of the globe to another part in a matter of seconds. It was in 1978 when a 14-year-old boy Shiva Ayyadurai created the first email. Email has definitely brought a new dimension to human communication and interaction. Its squeeze is even more prominent in the business world with email becoming the most prefer mode of communication. There has been a rapid growth of its popularity since its inception and this has been proved by a surveil conducted in February 1998 at an Institution of Information Scientists. According to the survey, 60 participants booked a place by e-mail while the others booked either on the phone or have used fax. In business today, email is the most common process of communication with clients and off-site staff (Hill, 2005, pp.93-94). Its major advantage is that it is password protected which means the information on email can be accessible and by its user. It also saves time since messages sent via email takes under a second to get communicate to the target email. The Bank Secrecy Act (BSA) was first introduced in the year 1970 by Congress in the U.S. in order to protect the global financial system from money-related crimes like money laundering and terrorist financing. cash laundering is the method by which illegally earned money is circulated and integrated into the financial system so as to make it appear clean. Basically, it is a system by which money received from one (illegal) arising is appeared to have been received from another (legitimate) source.