Information Technology Acts

There have been several advances in technology that affect how information is processed. The rapid advancement in information technology has created a need to reevaluate our ethical lenses. This review of our ethical lenses created a need for the government to implement new acts of congress. This paper will cover two of those acts the fair credit reporting act and the 2001 Patriot Act. These acts were both deemed necessary acts. They included the right to have access to credit reports and standings regardless of ability to pay. With rising amounts of terrorist threats and acts on the United States it was deemed necessary to implement the Patriot Act. Both of these acts were passed in an attempt to protect and inform the public of this nation. (Fincen.gov) What this means is that in order to keep the United States safe from terrorist activity, the government keeps a close eye on financial institutions to ensure that they are not laundering money to support terrorist activity. This not only includes American banks, but also high profile international institutions. This is a safeguard that monitors any large transaction involving banks and makes those banks report where that money is going and for what purpose. The advancement of online banking and increased security threats across the world has made this act a necessity but others feel that it has become a hassle and a violation of privacy. This act allows the United States government to freeze funds from an individual, either in America or overseas, if they feel that that individual is involved in terrorism. Another problem that this act causes is the increased background and identity checks that are involved when setting up a new account with a bank. All of these measures are considered to be necessary to try to curb terrorism. However, the government needs to walk a very fine line in this situation because they are walking a very fine line of the edges of invasion of privacy. A definite line needs to be drawn on where privacy ends and the right to protect from a perceived threat.

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