Discusses issues of security and privacy as they relate to future electronic fund transfer (EFT) systems. Security systems must be developed to counter threats to an EFT system. It will be the responsibility of the depository lending institution to perceive the possible threats and select the appropriate safeguards. Extensive means to monitor and audit EFT systems must be provided since the records reside only in computers, data are transient and opportunities to tamper with the system are radically different from present circumstances. Regarding privacy, it is important to realize that EFT records will become an attractive target for exploitation by many kinds of organizations. It will be the responsibility of EFT systems to recognize that information will be used to make fair determinations about a person, and used only in ways the individual and society collectively agree are acceptable. 10 pp.