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4 Major Instruments used for Making International Payments are Foreign Bills of Exchange; Bank Drafts; Telegraphic Transfer; Letter of Credit.
<u>Explanation:
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To make payments in the foreign countries the instruments used are Foreign Bills of Exchange, Bank Drafts and Telegraphic Transfers and Letter of Credit. Each of these instruments mentioned as different methodologies in sending the money to the foreign banks.
Let us explain one by one; Foreign Bills of Exchange money drawn from country is payable at another country. Bank draft which is drawn on bank funds and payment assurance is made by the bank that issues it.
Telegraphic Transfer is an electronic method of fund transfer used mainly for overseas wire transactions. And final one is Letter of Credit is a letter given by the bank assuring that a buyer's payment to a seller will be received on time and for the correct amount.
Answer:
the M'naghten rules of 1843
Electronic hacking and illegal trespassing for the purposes of acquiring a competitor’s proprietary information are considered economic espionage.
<h3>
What is economic espionage?</h3>
- Economic espionage includes electronic hacking and illegal trespassing to obtain a competitor's proprietary information.
- Economic espionage is defined as the illegal or covert targeting or acquisition of sensitive financial, trade, or economic policy information; proprietary economic information; or technological information.
- Using bribery, cyber-attacks, "dumpster diving," and wiretapping.
- Creating seemingly innocent relationships with US companies in order to gather economic intelligence, including trade secrets.
- President Clinton signed the Economic Espionage Act of 1996 into law.
- It criminalizes the theft or misappropriation of trade secrets.
- It is notable for being the first federal statute to broadly define and severely punish such misappropriation and theft.
Therefore, electronic hacking and illegal trespassing for the purposes of acquiring a competitor’s proprietary information are considered economic espionage.
Know more about economic espionage here:
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