The Internet industry and governments clashed head-on last week over efforts to come up with the world’s first treaty against cyber crime. From the Internet purveyors and providers came calls for minimal restrictions. From governments came pressure for sufficient powers and rules to fight crime online. Industry representatives at a hearing held by the Council of Europe, which is drafting the pioneer convention, said passages requiring Internet service providers to store user data for long periods would be unacceptably costly. Echoing a growing trend in Europe, the European Union said it wanted the convention to help fight hate crimes and racism, an issue highlighted by a recent French court decision ordering the U.S.-based site Yahoo! to remove Nazi memorabilia from its auction pages. Japan eBank’s plan A Japanese online bank, eBank Corp, to
be set up by a consortium led by trading house Itochu Corp said last
week it had applied to financial regulators for a banking licence to
start operations in June. "We will aim to develop an Internet-based
specialist bank for the settlement of small payments," Taiichi
Matsuo, president of the online venture, told reporters. The new online
venture, which hopes to achieve a profit in three years, will conduct
operations exclusively on the Web, specialising settling payments for
low-priced goods and services and charging fees on these settlements.
More than 20 firms — including Itochu, Sumitomo Corp, Hitachi Ltd,
Nippon Shinpan Co and Mitsui Marine and Fire Insurance Co Ltd — own
stakes in eBank. None has a more than five per cent share. eBank had
said it would strive to become a leader in Japan’s fledgling
e-commerce market without a traditional branch network. |