A National Security Threat Cybercrime - 1989 Words

A NATIONAL SECURITY THREAT: CYBERCRIME Monika Sharma1 and Michael Losavio2 1Department of Computer Science and Computer Engineering, University of Louisville, Louisville, KY 2Department of Justice Administration, Department of Computer Science and Computer Engineering, University of Louisville, Louisville, KY. m0shar17@louisville.edu, Michael.Losavio@louisville.edu ABSTRACT Cyberspace which is an offshoot of the development of computer and digital communication technologies, has in recent decades become part and parcel of our daily lives. It has become an ideal space for cyber criminals to remain anonymous while preying on victims. As the number of cyberspace users increase, so do the new opportunities for exploitation and the need of protecting computers, networks, digital applications and data from unintended or unauthorized access, change or destruction. This paper proposes a policy directed examination on cyberspace crime and its impact on national security. It includes a profile of cooperation among criminals, organized crime and hostile organizations and discusses the growth of black market in IT services. In recent years, â€Å"Information warfare† a new form of terrorism has captured the attention of information security specialists; terrorists might tamper with computers to commit information based threats to nations, to businesses and to individuals. INTRODUCTION In a world where information and communications technology (ICT) that provides the means soShow MoreRelatedCyber Threat, Its Scope And Its Impact On National Security991 Words   |  4 Pagesa policy directed examination on cyber threat, its scope and its impact on national security. It includes a profile of cooperation among criminals, terrorists and hostile organizations and discusses future of cybercrime in 2020. In recent years, â€Å"Information warfare† a new way of terrorism has become the major concern for information security specialists; terrorists might tamper with computers and electronic devices to commit secured information based threats to nations, to businesses and to individualsRead MoreThe Internet And Its Effects On The Environment1538 Words   |  7 Pagesof the nature of threats from physical to virtual dimensions has created a major shift in the development of strategies by the government around the world to meet the new challenges. In 2010, the Canadia n government has published â€Å"Canada s cyber security strategy: For a stronger and more prosperous Canada†, a strategic platform to secure the Canadian cyberspace. However, although embracing cyber technology and obtain considerable advantages from it, the Canadian cyber security strategy does notRead MorePolicing Cybercrime : Police And Armed Forces1174 Words   |  5 PagesChapter Three Policing Cybercrime Strategy 3.1 Police and Armed Forces. In this chapter, the policing cyber strategy is discussed and will show that the unique organisational structure of the UK police force means that policing cyber strategy varies from county to county in the UK; although each regional force operated with the same objective. Within the UK strategy is the criminalisation of certain cyber activity . with Cyber Security Strategies containing elements of cybercrime control, therefore aRead MoreThe Cyberspace Will Affect National Security Essay1444 Words   |  6 Pagescommunication were able to grow and flourish, however with these gains seen came with it the weakening of the once secure national strength seen in nations. In the last two decades cyberspace has been defined as the fifth battleground’ for international relations, with the aspects of cyber war, cyber terrorism, and cybercrime as some of the largest threats to the security of the national and international community. (Popović, 2013) With this ‘fifth battlegr ound’ of the cyberspace thrown into the internationalRead MoreTerrorism And Non State Violent Groups1726 Words   |  7 Pagescritical national security threats confronting the U.S. The three most critical national security threats confronting the U.S. over the next five years include the following: terrorism and non-state violent groups, cybercrime, and climate change. While some of these threats present different challenges and ramifications, I believe that within the next five years, foreign-hatched and homegrown terror attacks on the U.S. homeland will remain the most——as it is currently—— imminent threats to U.S. nationalRead MoreDefence Policy And Military Strategy1134 Words   |  5 Pagesstrategies. For the military, an overhaul of the whole concept of Defence has gradually changed as cyber security is streamlined into defence policy coupled with economic influence and globalisation. ‘In the military, information and intelligence operations, routine administrative functions, and a wide array of everyday jobs have been increasingly developed and transformed with the support of interconnected electro-electronic devicesâ €™ . Defence policy and military strategy go hand in hand and DefenceRead MoreCybercrime Has Become One Of The Most Threatening Issues1221 Words   |  5 PagesCybercrime has become one of the most threatening issues not only for the security of the United States (U.S.) but for the security of the entire world. The Recent massive attack which targeted around 300,000 machines in 150 countries proved that the world is not prepared to confront such threat. This type of asymmetric threat demands a more comprehensive approach since it cannot be addressed with the conventional assets the U.S. possesses to counter its traditional aggressors. Cybercrime requiresRead MoreThe 2016 Olympic Games1576 Words   |  7 Pagesand Rio de Janeiro s State public security forces will implement a combined security strategy with the support of roughly 85,000 private and public security specialists. The United States is aiding the work effort with the Brazilian intelligence agencies, according to a report from NBC News. Furthermore, the deterring operations of street crime and urban violence the government will need to have the support of its integrated anti-terrorism centre and its security operations. During the OlympicRead MoreImpact Of Cybercrime Today : Government And Private Industry Through Information Sharing Methods1354 Words   |  6 PagesImpacts to cybercrime today is forcing government and security agencies to place focus on cybersecurity within government, private, and public sectors. In 2015, the administration intends to pass legislation to strengthen cybersecurity across the U.S. government and private industry through information sharing methods. Contradictory controversy exists whether the government may dictate how the private industry should carry out their cybersecurity, if so, is it effective? Over the last severalRead MoreCyber Defense Concerns On Global Security983 Words   |  4 PagesCyber Defense Concerns in Global Security The cyber domain crosses both physical and logical borders across the globe. No longer is every aspect of a domain clearly part of a single nation. Occurrences within cyberspace has far reaching effects. 15 million T-Mobile customer’s data stolen via Experian server compromise, massive cyberattacks on Estonia and Georgia networks (2007 and 2008 respectively), and over $1 trillion reportedly lost due to cybercrime. These are just a few concerns facing

Modern Day Slavery A Problem That Can t Be Ignored

Modern-day slavery: A problem that can’t be ignored. Child slavery ages starts at the age of four years old boys and girls. Most kids are released around the age of sixteen years old but don t know where their parents are. The kids suffer from starvation at the camps they’re housed in. They also have to get up as early as five o’clock in the morning to start their day. One of the dominant issues containing child slavery is poverty. Several parents sell their children because of their financial problems in the household. Although some parents are convinced by contractors that their children are being presented with better opportunities, that is not always the situation. Child slavery can have different negative developmental†¦show more content†¦The authors also states that children often receive no safety training or protective gear, which results in injury and sickness, including musculoskeletal disorders, sprains, strains, lacerations, fractures, e ye injuries, rashes, and coughing (Mull and Kirkhorn). For children working in the gold mining industry in Western Africa, they are among the worst forms of child labor because of the long-term health consequences from constant exposure to dust, toxic chemicals, and heavy manual labor. A PBS news article states, â€Å" The list of documented ills for child labor in Western Africa includes permanent lung damage caused by inhaling pulverized minerals, muscular and skeletal injuries, hearing loss, accidental blinding, and mercury poisoning with its attendant neurological damage (PBS News). In western Africa while the children are at their work base there’s a possibility of catching permanent lung cancer from inhaling in pulverized minerals. Children health can’t be ignored any longer than it already has been. The next major problem is the physical and psychological effects the children have. Physical injuries and mutilations are caused by badly maintained machinery on farms and in factories, machete accidents in pla ntations, and any number of hazards encountered in industries such as mining, ceramics, fireworks and manufactures. Child slavery they all generally accept that the work for children might harm them in some way and

A good and simple example is given by Fromlet Free Essays

One fundamental notion in the finance and economic fields with regards to decision making has always been based on the underlying assumption that individuals or decision making agents are rational and objective. However, in many cases, rationalistic explanations have failed to answer major financial occurrences in the past. A good and simple example is given by Fromlet (2001), In 2001 the Swedish currency – the crown- was seriously undervalued in the foreign exchange market despite the fact that Swedish economy enjoyed a good economic growth record, had the lowest inflation rate among the 12 European Monetary union members, surplus government budget and a good, positive balance of payment position. We will write a custom essay sample on A good and simple example is given by Fromlet or any similar topic only for you Order Now Thus in this case all the rationalistic theories could not adequately explain the weakening of the crown given the fact that all economic indicators showed that it should be stronger. According to many theorists, even though realism cannot be attained, a good theoretical model should include mechanisms that help in relaxing as much assumptions as possible to attain a near realistic empirically based theory. Most of the traditional and neoclassical financial theory such as the capital asset pricing model (CAPM) and expected utility theory (EUT) are based on the unrealistic assumptions that can be explained as: †¢ Representative agents and players in the financial market are rational therefore base their decisions with the objective of maximizing wealth therefore asset pricing reflect the real value of the asset at any particular time (Thaler, 1999). †¢ The market given time will settle on an equilibrium point and that the equilibrium price reflects the real value of the asset that can rationally be explained using traditional theories (Ideal or rationally explained equilibrium) (Thaler, 1999). Behavioral finance is a relatively new field of study that has made tremendous progress in the attempt to answer these unrealistic assumptions and offer an alternative explanation of the financial market. Behavioral finance holds that the market is unrealistic due to the human element; therefore, in evaluation of financial market decision making and market condition, financial theories should recognize the role of human behavior in financial assets price determination. The composition of financial investors is diverse from fathers and mothers, household, spouses, students, businessmen, government leaders etc. are all decision makers in the financial market thus the assumption of rationality as provided by these theories is unrealistic (Ritter, 2003). These paper is an in depth evaluation of the behavioral theory and its application in the financial market. The paper will look at the strength and weaknesses of behavioral finance in an attempt to show its applicability as a tool in the financial market. Definition and description of behavioral finance. Behavioral finance is an empirically based theory, Behavioral finance theorists argue that to understand the performance and decision making in market, it important to integrate psychological and behavioral variables and classical financial theories in decision making and market atmosphere. According to this theory, the market is sometimes information inefficient and participants do not often make decision rationally. Behavioral finance uses to main concepts namely cognitive psychology and limits to arbitrage. Cognitive psychology as applied in behavioral finance focuses on behavioral factors influencing investor’s decision making or how people think; it postulates that investors make systematic errors in the manner they think and this contributes to irrationality in decision making. For instance, some investors might be overconfident and end up loosing due making investment decision based on this behavioral trait. This cognitive biases lead to irrational decision and can explain the weaknesses of classical financial theories with regards to why the market fails to attain equilibrium or conceptual expectation of rational investor decision in the financial market. (Ritter, 2003). Cognitive biases. Cognitive psychologists hold that there several cognitive biases that affect investor’s decisions in the market, as mentioned this biases lead investors to make systematic errors hence explaining irrationality in the financial market. This paper will highlight the cognitive biases by combining some of the documented behavioral patterns in arguing the case and behavior finance model case in the financial market it should be noted that psychological patterns and behavior categories as presented are interlinked to the extent that an individual can make decisions due to several behavioral patterns (Fromlet, 2001): 1/n Heuristics or rule of thumb. Heuristics or the rule of thumb is one common behavioral technique applied in decision making. According to the definition (as quoted in Fromlet, 2001), â€Å" heuristic means ‘use of experience and practical efforts to answer questions or to improve performance. † Heuristics mean fast, selective interpretation of information, determined to a high extent by intuition–taking into account that the conclusions may not give the desired results because of the velocity and/or the incompleteness in the decision-making. † This technique makes it easier for investor’s since information in the market usually spreads faster, changes often and has become more complicated to interpret. Therefore, given various options many investors use the 1/n rule by spreading their funds equally or proportionately on the available options since it is easier than choosing the rational option based on the information hence introducing irrationality in the market in terms of decision making. A good example is if in a given financial market six different economic indicators are published, economists and investors have to assimilate and use the information as fast as they can to take advantage of the market, some result to heuristic approach. This sometimes leads to suboptimal results and explains the difference between the ideal classical financial market of a rational investor and the real world. (Fromlet, 2001 and Ritter, 2003). Thaler (1999), argue that from empirical evidence collected in their research most individuals investing for retirement have little or no knowledge of the financial market hence uses the rule of thumb or 1/n heuristic approach to make decisions on where to put there retirement savings. Overconfidence and preference for certain information. Another pattern that manifests itself and lead to irrationality in decision making in the financial market is overconfidence. Ritter (2003), notes that entrepreneurs tend to be overconfident and hence invest too much in stocks or options that they are familiar with. This can be termed as an irrational tendency to the extent that it leads overconfident entrepreneurs tend to limit their options by not diversifying their portfolio hence irrational since they tie up their assets (for example real estates) to the company they are familiar with partly due to the fact that they would feel in control of local familiar stocks compared to high returns stocks that are outside their control, this is referred to as control illusions. A good example world over is the fact that most workers tend to invest too much in the company they work for and this has led to loss of entire savings to many of the companies in the event of insolvency (see Ritter, 2003 pg. 434 for examples). Furthermore, it was noted that generally, men are more overconfident than women and this behavior extends to investment decisions. It was found out in a research by Bernard and Odeon (2001 as quoted in Ritter 2003) that the more men on average perform worse than women and this is partly attributed to the fact that they are overconfident than women. How to cite A good and simple example is given by Fromlet, Papers