Corporate Law Securities and Investment

Question: Examine about the Corporate Law for Securities and Investment. Answer: Presentation: The current case had been initiated as common procedures in the Supreme Court of New South Wales by the Commission of Australian Securities and Investment against James Hardie Industries Limited. The case was started in setting to bogus and deceiving arrangement and introduction of open explanations and penetrated the guidelines of area 180(1) under Corporations Act. It was discovered that the case included James Hardie Industries NV alongside the seven chiefs, previous non-official and three previous administrators of James Hardie Industries Limited. The choice of the case introduced the centrality on the job of chiefs including official and non-official chiefs, alongside the senior official administration of the association. Further, the case additionally featured the fitting execution of lawful guidelines for thinking about the key issues, issues on corporate administration and different business choices. Foundation of the case: James Hardie Industries Limited was holding/parent organization of the authoritative gathering James Hardie that was occupied with the assembling and exchanging business of asbestos till the year 1937. Until the year 1987, the James Hardie bunch including its two auxiliary organizations occupied with the matter of same items. Afterward, in the year 2001, early February, the board individuals from the association shaped an establishment named Medical Research and Compensation so as to oversee and fulfill the case for asbestos items. Likewise, the authoritative officials arranged a draft ASX declaration with the end goal of open discharge which was endorsed by the top managerial staff. Another occasion happened during a similar time was arrangement of contract and repayment deed between the organization and Coy Jsekarb to reimburse the association from the liabilities against the exchanging of items. According to the arrival of ASX draft by the James Hardie Group, the all out resources of the establishment was esteemed and expressed to $293 million. It was referenced that the said sum would be sufficient to meet the necessary assets for compensatory claims for the injury on utilizing the asbestos items. Taking into account the public interview, it was noticed that the associations CEO, Mr. Macdonald, introduced proclamations on the Foundations adequate assets. In addition, it was discovered that The Deed was not introduced and uncovered in any declaration made by ASX. Further, it was seen that the gathering of James Hardie was confined after the development of the Foundation, regarding new parent organization and fused in the Netherlands. During the year 2002, the CEO of the venture, Mr. Macdonald gave introduction over a few districts expressing the announcement on adequate assets in the Foundation regarding the holding organization, James Hardie Group. As needs be, the Commission of Australian Securities and Investment started common procedures against the associations (JHIL and JHNIV) for introducing bogus and misdirecting explanation. The commission fought that the associations furnished bogus explanations concerning the protections prompting misleading behavior and break of consistent revelations in consistence with the standards of Corporations Act. Aside from the association, the procedure was additionally started against the non-official executives, CEO of the association just as the General Counsel alongside the hierarchical CFO. Lawful Issues The accompanying case includes common procedures regarding the oversight and guideline of the pertinent standards of Corporations Act. The case consolidates whether the declaration made for the Foundation explanation was affirmed at the gathering of the chiefs and whether the moment was set up in consistence with the standards under segment 251A and 1305 of the Corporations Act. It had been seen that the announcement gave by the authoritative chiefs contained misrepresentation and deluding data to the speculators and different partners of the organization. It is required to be resolved that whether the chiefs of the organization including senior administrators penetrated the guidelines of area 180(1) of the Corporations Act. Further, the current case requires to decide if the standards of segment 995(2) of the Corporations Act had been agreed while making the declaration for the arrival of explanation to ASX. Since the discharged articulation contained the data on existing assets wit h the Foundation, it is basic to reveal the valid and reasonable estimation of advantages and assets to help partners, speculators and open. As needs be, the last arrival of the announcements requires to be affirmed by the chiefs just as it is essential to check the consistence of legitimate guidelines for right and reasonable divulgence of estimation of benefits. Consequently, it is required to be broke down whether the organization followed the standards of segment 995(2) and 999 alongside the guidelines of area 180(1), 181 under Corporations Act. It is to be resolved whether the executives neglected to go along the guidelines of Corporations Act segment 180(1) concerning the endorsement of draft proclamation and open declaration made through ASX. Aside from the organization and chiefs, the case remembers examination for consistence of Corporation Act guidelines in part of CEO and general insight concerning the draft Information Memorandum to be utilized for the course of action of individuals plot. Also, guidelines of area 1041 under Corporation Act alongside the examination of Listing Regulations 3.1 to rebuild exposures. Legitimate Principles As indicated by area 251A under Corporations Act, the association is required to get ready and keep up the moment book inside the time of one month to record the goals and procedures of the gatherings. It is likewise essential to record the procedures of meeting of executives just as different goals passed by the organization chiefs or individuals. Further, segment 1305 of the Corporations Act requires an organization to keep up the corporate books with the end goal of allowable in proof for procedures or some other legitimate issues (Austlii.edu.au 2016). According to area 180 of the Corporations Act on care and ingenuity to be performed by the chiefs and administrators, it is critical to practice the obligations for business exercises by keep up sensible consideration and determination. The chiefs and official officials are required to release the essential obligations with appropriate consideration so the business choices and exercises reflects valid and reasonable outcomes for th e partners and open (Madsen and Rodgers 2015). With the end goal of any business choices, chiefs and officials are mindful to make judgment dependent on great confidence and it ought exclude any close to home intrigue material to the organization. Aside from that, segment 180 gives that the chiefs and officials ought to advise themselves including the organization with the end goal of proper and reasonable business choices. It is imperative to lead business exercises just as business choices to the greatest advantage of the association also he partners (Crane, Graham and Himick 2015). Additionally, area 180(1) alongside the sub-segment (2) ought to be worked in consistence to the guidelines of custom-based law as for the executives obligations. Further, area 995 just as segment 999 of the Corporation Act expresses the guidelines on deceiving or beguiling behavior for getting ready and introducing the announcements for managing in protections. It expresses that any individual, chief or official of the association ought not be engaged with connection to the arrangement of protections for designation, issue or to distribute the related explanations (Austlii.edu.au 2016). Besides, it is expressed that the repudiation of area 995 would be thought of if the announcement of protections esteem or some other significant data on the off chance that it contains tricky or deluding data. As needs be, segment 181 of the Corporation Act requires the authoritative executives to introduce the business archives and proclamations in obvious and reasonable view just as in compliance with common decency to help speculators and different partners of the organization. On the off chance that the any chief or official negates the standards of segme nt 181, at that point the guilty party would be subject under common punishment according to the confinements referenced under segment 1317E. As needs be, segment 1041 furnishes that the individual drew in with the association ought not be engaged with any exchanges whether straightforwardly or by implication to make fake exchanging value (Austlii.edu.au 2016). Choice Considering the lawful guidelines and standards of pertinent to the conditions laid in the current case, the court battled that the chiefs and other hierarchical officials neglected to go along the necessities of Corporation Act. It was discovered that the secretary, general insight and different chiefs of JHIL penetrated the standards of area 180(1) since the concerned administrators neglected to guarantee the responsibility and decency of the ASX declaration. As the announcement referenced the data on adequate assets for taking care of the pay, it is noteworthy to give a similar straightforwardness and responsibility. The obligation of introducing the valid and reasonable proclamation lies on the CEO, CFO, secretary just as general direction of the organization guaranteeing the consistence of required arrangements of Corporations Act. Regarding the repayment deed, it was fought by the court that the hierarchical CEO and General Counsel didn't go along the arrangements of 180(1) for furnishing endorsement to discharge the deed with deluding data. In like manner, if there should arise an occurrence of ASX declaration, the court found that the CEO of the organization penetrated the standards under segments 999 and 995 of Corporations Act since the declaration contained deceiving data

Significance of Manned Missions to Mars free essay sample

After Apollo 11 prevailing in the principal kept an eye on crucial land on the Moon in 1969, people’s interests were bit by bit leaving the Moon and went on to Mars, which is the most comparable planet to Earth in the close planetary system. In such a current of popular supposition, the U. S. what's more, different nations have been attempting to send people to Mars. Notwithstanding, today, there is a discussion with regards to whether we should keep putting forth attempts to send humankind to Mars, or not. A few people say that it does not merit the cost and hazard to make a kept an eye on trip to Mars. Then again, others think it is as yet critical to keep making those endeavors †not for a material reason, yet for seeking after sentiment of room travel. Rivals of a kept an eye on crucial Mars guarantee that it is too expensive to even think about keeping making endeavors, and on the off chance that we didn't need to spend such cash on those missions, we could build human services, instruction, and some different financial plans. We will compose a custom article test on Centrality of Manned Missions to Mars or then again any comparative point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page It is valid. Be that as it may, what is hanging tight for us in such a future as we will get at the penance of dream or sentiment? What is fundamental for individuals of today isn't material riches which we can get by slicing the financial plan of missions to Mars however mental riches which we can develop by seeking after sentiment or longing for it. Rivals likewise keep up that we ought to stop attempting to make those illogical endeavors and hold up until the innovation is set up in light of the fact that we can't send humanity to Mars with the present innovation. In any case, this contention is off the point since it isn't significant whether those endeavors are unrealistic or not at the current second. Need consistently causes innovation to create. By for all intents and purposes keeping putting forth attempts to send humanity to Mars, we can build up the innovation which is expected to make it conceivable. So as to get something, we need to accomplish something. Simply sitting tight for something doesn’t help. Different contentions progressed by rivals is that we won't have any helpful outcomes aside from mental fulfillment, for example, dream or sentiment regardless of whether we can make a kept an eye on trip to Mars. Notwithstanding, obviously, there are a few useful things we will get from the accomplishment of missions to Mars. From the start, understanding Mars encourages us to see increasingly about our planet Earth on account of the comparability between these two planets. We might have the option to realize how to secure the earth on Earth by concentrating how Mars passed on. Furthermore, space building is probably the most recent wilderness of science. We will have the option to apply the innovation we will have created in this field to a few different fields. In like manner, missions to Mars have an advantage not just for individuals who are keen on Mars yet in addition for individuals who are definitely not. Unquestionably, it may not be anything but difficult to keep putting forth attempts to send humanity to Mars, and it costs a ton. In any case, things we get by missions to Mars are more than things we lose by it as referenced previously. By seeking after sentiment of room travel, we make dream which appears to be difficult to be accomplished worked out, and keeping in mind that we appreciate innovation and information we get from missions to Mars, we can abstain from losing mental riches simultaneously. We should keep attempting to make a kept an eye on trip to Mars.

Blog Archive Mission Admission The Value of Current Community Service

Blog Archive Mission Admission The Value of Current Community Service Mission Admission is a series of MBA admission tips; a new one is posted each Tuesday. MBA admissions committees try to identify applicants who are constantly active, challenging themselves in all spheres of their lives. So, not only are extracurricular and community activities powerful in showing an MBA candidate’s benevolence, but they also help create the impression that the applicant is constantly pursuing goals and is therefore predisposed to success. We regularly encounter applicants who say, “I have been so busy professionally that I haven’t had time to volunteer, but I was really active during college.” In almost all cases, however, as candidates get further from their college years, their undergraduate experience becomes decreasingly relevant. Although having a record of consistent achievement throughout college and into one’s professional life is best, MBA applicants are often evaluated on a “What have you done for me lately?” basisâ€"meaning that contemporary community service is generally more important. MBA admissions officers know that finding time to commit to external activities can sometimes be challenging, but they still see many applicants from the most competitive fields who indeed find time to give back to others. So, if you had a rich and rewarding college experience filled with leadership, in short, keep that trend going. You have a powerful complement to your contemporary involvements, but not a substitute. Share ThisTweet Mission Admission Blog Archive Mission Admission The Value of Current Community Service Mission Admission is a series of MBA admission tips; a new one is posted each Tuesday. MBA admissions committees try to identify applicants who are constantly active, challenging themselves in all spheres of their lives. So, not only are extracurricular and community activities powerful in showing an MBA candidate’s benevolence, but they also help create the impression that the applicant is always pursuing goals and is therefore predisposed to success. We regularly encounter candidates who say, “I have been so busy professionally that I haven’t had time to volunteer. However, I was really active during college.” In almost all cases, however, as applicants get further from their college years, their college experience becomes less and less relevant. Although having a record of consistent achievement throughout college and into a candidate’s professional life is best, MBA applicants are often evaluated on a “What have you done for me lately?” basis, meaning that contemporary community service is generally more important. MBA admissions officers know that finding time to commit to external activities can be challenging for some professionals, but they still see many applicants from the most competitive fields who indeed find time to give back to others. So, if you had a rich and fulfilling college experience filled with leadership, in short, keep that trend going. You have a powerful complement to your contemporary involvements, but not a substitute. Share ThisTweet Mission Admission Tags: community service extracurricular activities volunteer Blog Archive Mission Admission The Value of Current Community Service Mission Admission is a series of MBA admission tips; a new one is posted each Tuesday. MBA admissions committees try to identify applicants who are constantly active, challenging themselves in all spheres of their lives. So, not only are extracurricular and community activities powerful in showing an MBA candidate’s benevolence, but they also help create the impression that the applicant is always pursuing goals and is therefore predisposed to success. We regularly encounter candidates who say, “I have been so busy professionally that I haven’t had time to volunteer, but I was really active during college.” In almost all cases, however, as applicants get further from their college years, their undergraduate experience becomes less and less relevant. Although having a record of consistent achievement throughout college and into a one’s professional life is best, MBA applicants are often evaluated on a “What have you done for me lately?” basis, meaning that contemporary community service is generally more important. MBA admissions officers know that finding time to commit to external activities can sometimes be challenging, but they still see many applicants from the most competitive fields who indeed find time to give back to others. So, if you had a rich and fulfilling college experience filled with leadership, in short, keep that trend going. You have a powerful complement to your contemporary involvements, but not a substitute. Share ThisTweet Mission Admission Blog Archive Mission Admission The Value of Current Community Service Mission Admission is a series of MBA admission tips; a new one is posted each Tuesday. MBA admissions committees try to identify applicants who are constantly active, challenging themselves in all spheres of their lives. So, not only are extracurricular and community activities powerful in showing an MBA candidate’s benevolence, but they also help create the impression that the applicant is constantly pursuing goals and is therefore predisposed to success. We regularly encounter applicants who say, “I have been so busy professionally that I haven’t had time to volunteer, but I was really active during college.” In almost all cases, however, as candidates get further from their college years, their undergraduate experience becomes decreasingly relevant. Although having a record of consistent achievement throughout college and into one’s professional life is best, MBA applicants are often evaluated on a “What have you done for me lately?” basisâ€"meaning that contemporary community service is generally more important. MBA admissions officers know that finding time to commit to external activities can sometimes be challenging, but they still see many applicants from the most competitive fields who indeed find time to give back to others. So, if you had a rich and rewarding college experience filled with leadership, in short, keep that trend going. You have a powerful complement to your contemporary involvements, but not a substitute. Share ThisTweet Mission Admission

Critical Appraisal of Business Planning Process Free Essay Example, 1500 words

It is evidently clear from the discussion that Michael Porter identifies five competitive forces that impact business success, including a threat of new entrants, the availability of substitute products, supplier and buyer power in the market, and concerns over what types of competitive strategies are being developed by other businesses operating in the same market. It is necessary to scan the external environment in order to understand what socio-economic and socio-cultural trends are observable in key target markets in order to develop a service or product plan designed to properly fit these attitudes or financial predictors. The market analysis identifies all of the fundamental hindrances or advantages that are linked to strategic intention and competitive strategy, thus the planning process must include market research. Businesses that are heavily reliant on consumer revenues must understand what drives buyer behavior, and this is best performed through surveys, questionnaires o r focus groups. Consumers either favor or disapprove of a particular product or business concept based on how they view its value to fulfilling their consumption or lifestyle needs, this market analysis determines the internal steps required to build a market orientation for reputation and economic sustainability purposes. We will write a custom essay sample on Critical Appraisal of Business Planning Process or any topic specifically for you Only $17.96 $11.86/pageorder now In markets where there is heavy saturation of competitive forces that provide similar products or services, it is necessary to understand what elements of the marketing mix are driving their marketing strategies. For instance, analysis of the competitive environment might indicate that competitors are utilizing considerable capital resources toward advertising and promotion, but are not achieving the financial results expected by their own strategic plans. This gives the entrepreneurial business the template by which to develop a new strategy that focuses more on value provision, thus being able to reserve financial resources that might have been applied to a large-scale advertising and promotional scheme in an effort to gain consumer attention.

Is There Too Much Violence On Television, Movies, And...

Is there too much violence on....television, movies, computer/video games? This question is increasingly heated debates in over the years. As the high technology in today’s world, movies and computer games are more realistic and sophisticated. The main consumers of these violent movies and computer games are children and teens around seven to twenty. Even some adults also play these violent computer games, but they don’t have much time for it because they have to go to work. These violent computer games and movies are related to blood, intense violence, strong sexual content, and the use of drugs. It just like encourages fighting and killing people. Many violent computer games and movies are created each year and there are thousand ways of violent acts in these things. In my opinion, the answer is yes, there is too much violence on television, movies, and computer games. There are also a lot of negative effects of violent games and movies on young people who play video games excessively. However, aggressive behavior is not the results of violent computer games, but the players with violent tendencies is more susceptible to act out their violence in real life. To understand this question, the most important word violence have to clearly define. Violence is the act that injure people or property by the use of physical force. Violence may cause physical pain directly to people who experience it. In some cases, it may hurt the emotion to those who experience or witness it.Show MoreRelatedMedia Effects On Children And Adolescents1521 Words   |  7 PagesThe world that we lived in is all surrounding with media, people use the media every day and everything; such as watching television, using the computer, and talking on the phone. On the media we could learn and find out the information that we need. And we can also share our personal information on the media. Media gives us a lot of convenient in our life, but there are also some negative impacts. Me dia has a lot of negative impacts which it could be affected on children and adolescents. The articleRead MoreYouth Violence: Is the Media to Blame?1514 Words   |  7 PagesYouth Violence: Is the Media to Blame? COM/156 07/27/13 Mallory Dunkley Youth Violence: Is the Media to Blame? Not all children who watch violent programming get in trouble with the law; some feel that there is a strong direct link between the two. There is a good deal of compelling data that suggests that there is a direct link between the media and youth violence. 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It affects adults and children but it has a greater impact on children. Children are more moldable and are greatly influenced by things they see and hear. More and more violence is becoming prevalent in daily lives. Children all over the world are becoming victims to the same violent acts they witness on TV and at home. Children fall victim to abuse and neglect at home and at school. Children are bombarded with violence from all angles. With theRead MoreIs Video Game Violence the Cause of Juvenile Delinquency? Essay1683 Words   |  7 PagesInteractive video games and the Internet have become the entertainment of choice for Americas adolescents. Nearly seven in ten homes with children now have a personal computer (68.2%), and 41% of homes with children have access to the Internet. Annual video game revenues in the United States exceed $10 billion, nearly double the amount of money Americans spend going to the movies. On average, American children who have home video game machines play with them about 90 minutes a day. The impact

Personal Statement Professional Profile - 887 Words

PROFESSIONAL PROFILE For over 14 years, I have worked as a pastor and teacher to individuals of all ages, nationalities, and abilities. Within this capacity, I have successfully fine-tuned my ability to manage groups, solve problems, provide emotional support, manage conflict, and communicate effectively. I have had the wonderful opportunity to travel all around the world, which has certainly instilled in me the confidence and passion to immerse myself in a new culture. My travels have also instilled in me the passion to help others overcome language barriers while building strong rapport and fostering exceptional interpersonal communication. My ability to keep students engaged has allowed me to relay information to an attentive and receptive audience. To the same extent, my TESOL certification and my former pastoral experience allows me to anticipate the needs of my students and design meaningful and effective coursework based on such needs. To further my abilities as a mentor and teacher, I have frequented leadership development seminars focusing on conflict management, communication, and team development. I am confident that as an ESL teacher my repertoire of transferrable skills and commitment to education will be of great value to my students. EDUCATION Bachelors of Arts in Modern Languages and Literature (GPA: 4.0) 2014 Montana State University, Bozeman, Montana High Advanced (C1) Spanish Language Certificate 2014 La Universidad del Norte, Barranquilla,Show MoreRelatedCollege Of Nursing And Health Innovation1191 Words   |  5 PagesQualifications Profile (DQP) recommendations, nursing courses and the mission statement. The language utilized in the outcomes appropriately describes student behaviors and describe learning outcomes not processes (UCONN, n.d.). According to Davenport, Spath, and Blauvelt (2009) . 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The short trait of cultural background of non-profit companies would be ‘The culture of giving . This statement describes well the California Birth Defect Monitoring Program (CBDMP), the medium-sized non-profit organization where I was working for two years. The company is located in Berkeley and many employees are graduates from UC Berkeley, residing in

Prevent Computer Crime Essay Example For Students

Prevent Computer Crime Essay Computer Crime Billions of dollars in losses have already been discovered. Billions more have gone undetected. Trillions will be stolen, most without detection, by the emerging master criminal of the twenty-first centurythe computer crime offender. Worst of all, anyone who is computer literate can become a computer criminal. He or she is everyman, everywoman, or even everychild. The crime itself will often be virtual in naturesometimes recorded, more often notoccurring only on the Internet, with the only record being electronic impulses. Before discussing Internet crimes, we can expect to see in the years ahead, lets look at the good news: The most-dreaded types of offensescrimes such as murder, rape, assault, robbery, burglary, and vehicle theftwill be brought under control in the years ahead by a combination of technology and proactive community policing. Creation of the cashless society, for example, will eliminate most of the rewards for robbers and muggers, while computer-contro lled smart houses and cars will thwart burglars and auto thieves. Implanted bodily function monitors and chemical drips (such as sober-up drugs and synthesized hormones) will keep most of the sexually and physically violent offenders under control. But computer criminalsranging in age from preteen to senior citizenwill have ample opportunities to violate citizens rights for fun and profit, and stopping them will require much more effort. Currently, we have only primitive knowledge about these lawbreakers: Typically, they are seen only as nuisances or even admired as innovators or computer whizzes. But increasingly, the hacker is being replaced by the menacing crackeran individual or member of a group intent on using the Internet for illegal profit or terrorism. Access to the Internet has begun to expand geometrically, and technology is making the Internet even more friendly and affordable for millions of users. But foolproof protective systems can probably never be developed, althou gh some high-tech entrepreneurs are certainly trying. Even if a totally secure system could ever be developed, it would likely disrupt the free flow of informationan unacceptable intrusion to most users. In fact, it is the ease of access that is driving this rapidly expanding field of crime. What are the major computer crimes being committed, how, and by whom? More importantly, where is computer crime headed in the twenty-first century? Lets look at five crime categories: communications, government, business, stalking, and virtual crimes. COMMUNICATIONS CRIMES Already, cellular theft and phone fraud have become major crimes. Low-tech thieves in airports and bus terminals use binoculars to steal calling-card access numbers as unsuspecting callers punch in their phone codes. Other thieves park vans beside busy interstate highways and use equipment obtained from shopping mall electronics stores to steal cellular phone access codes from the air. Within moments of these thefts, internati onal calls are being made with the stolen numbers in what is becoming a multibillion-dollar-a-year criminal industry. Phone company employees, meanwhile, are also stealing and selling calling card numbers, resulting in more hundreds of millions of dollars in unauthorized calls. In 1994, an MCI engineer was charged with selling 60,000 calling card numbers for $3 to $5 each, resulting in more than $50 million in illegal long-distance charges. In another case, when a phone company tried to institute a call-forwarding program, crackers quickly defrauded the system of more money than the company stood to make in legal profits. In the future, the opportunities for hacking and cracking will escalate, with telephones, computers, faxes, and televisions interconnected to provide instantaneous audiovisual communication and transmission of materials among individuals. The wide appeal of new multimedia communication systems will likely create such a huge volume of subscribers that the price will plummet and make access by all possible. But if billions of dollars of losses are to thieves, compounded by billions more required to repair damages created by system terrorists, the cost might become prohibitive to all but the wealthy. COMPUTER CRIMES AGAINST THE GOVERNMENT In 1995, the U.S. Internal Revenue Service instituted stringent new regulations on electronic tax filing and returns. This move was to stop a rash of fraud that cost taxpayers millions in 1994: Returns that were processed quickly via this method turned out to be for tens of thousands of fictitious corporations and individuals. Similarly, in an attempt to stop food-stamp fraud, the government issued electronic debit cards to a trial population and plans to go nationwide with the system later in the decade. However, reports show that many recipients are selling their benefits for cash50 to 60 on a dollarto brokers who then receive full payment. Cyberpunks regularly break into government computer systems, usually out of curiosity and for the thrill of the challenge. They often intercept classified data and sometimes even interrupt and change systems. One U.S. Justice Department official reported that military computers are the most vulnerable, even less secure than university computers. This official noted that, during Operation Desert Storm, hackers were able to track both actual and planned troop movements. James V. Christy II, director of an Air Force unit of computer-crime investigators, set up a team of hackers to test the security of military computer systems. He reported that the hackers broke into Pentagon systems within 15 seconds and went on to break into over 200 Air Force systems with no one reporting or even recognizing the break-ins. Ironically, computer hackers often beat the system using the very technology intended to stop them. For example, federal law-enforcement agencies use an Escrowed Encryption Standard to protect classified information and a chip-specific key to decry pt the system. Experienced hackers can easily discover the key and use it to obtain passwords, gaining full access to encrypted systems. Newer, more-secure encryption systems for protecting government and international business transactions require storing the keys in escrow with a specific government agencyusually the U.S. Treasury Department. Hackers find this security solution unacceptable because it slows the free flow of information and puts almost all sensitive and important data in the hands of government officials. This is seen by many as being dangerous to individual freedoms and a major step in the direction of creating a class structure based on the information rich and information poor.. As more government data is stored in computers, protection will become both more vital and more difficult. When the livelihood of an individual depends on data in government computers, the temptation to adjust that record to increase benefits and reduce charges will be great. Many will t ry to do the adjusting themselves; others will be willing customers for a burgeoning black market of professional crackers. For those who have little need for government benefits but would like to eliminate their tax liability, a highly destructive method would be to plant a computer virus in government computers to destroy large numbers of records. In this way, suspicion would not fall on an individual. TARGETING BUSINESS Today, most banking is done by electronic impulse, surpassing checks and cash by a wide margin. In the near future, nearly all business transactions will be electronic. Thus, access to business computers equals access to money. Recently, computer hacker John Lee, a founder of the infamous Masters of Deception hacker group, discussed his 10-year career, which began when he was 12 years old and included a one-year prison term in his late teens. Without admitting to any wrongdoing, Lee said that he could commit a crime with five keystrokes on the computer. He could: (1) change credit records and bank balances; (2) get free limousines, airplane flights, hotel rooms, and meals without anyone being billed; (3) change utility and rent rates; (4) distribute computer software programs free to all on the Internet; and (5) easily obtain insider trading information. Though prison was no fun, Lee admitted that he would certainly be tempted to do it all again. In a groundbreaking study published in Criminal Justice Review in the spring of 1994, Jerome E. Jackson of the California State University at Fresno reported the results of a study of a new group of criminals he called fraud masters. These professional thieves obtain credit cards via fake applications, or by electronic theft, and pass them around among their peers internationally for profit. These young men and women want the good life after growing up in poverty. They are proud of their skills of deception and arrogant enough to feel they wont be caught. None of those in the five-year case study we re caught. As seen in the $50-million-plus losses in the MCI case, a far greater threat to businesses than hackers are disgruntled and financially struggling employees. As internal theft from retail stores has always been many times greater in volume than theft from shoplifters, robbers, and burglars, theft by employees armed with inside information and computer access is and will continue to be a much larger problem than intrusion by hackers, crackers, and terrorists combined. By the turn of the century, 80% of Americans will process information as a major part of their employment, according to a United Way study. In addition, the future portends new and brighter for-profit invasion of business computers. As one Justice Department official says, This technology in the hands of children today is technology that adults dont understand. The first generation of computer-literate citizens will reach adulthood shortly after the turn of the century and will surely open a new age in the an nals of crime and crime fighting. COMPUTER-STALKING One frightening type of computer criminal emerging rapidly is the cyberstalker. Possibly the most disturbing of these criminals is the pedophile that surfs computer bulletin boards, filled with bright young boys and girls, in search of victims. He develops a relationship and then seeks to meet the child in person to pursue his sexual intentions. Already recognized as a serious problem, cyberstalking has spawned the cybercop a police officer assigned to computer bulletin boards in search of these pedophiles. Once a suspect is spotted, the cybercop plays the role of a naive youngster and makes himself or herself available for a meeting with the suspect in hopes of gaining evidence for an arrest. Also on the network, in search of pedophiles, are computer pornography sellers who offer magazine-quality color photographs of young boys and girls in a variety of sexually suggestive or actual sexual acts. Such a ring was broken up in 1994 a nd was found to have clients in several countries, with the pictures themselves transmitted from Denmark. Another type of stalker expected to be seen more in the future is the emotionally disturbed loner, seeking attention and companionship through the Internet, and who often becomes obsessed with a bulletin board friend. If this person obtains personal information about the acquaintance, he or she sometimes seeks a close, often smothering relationship. If spurned, the stalker launches a campaign of harassment, moving into real-space harassment if adequate information is obtained. Vengeance can take many forms, from ruining credit records and charging multiple purchases to the victim to creating criminal records and sending letters to employers informing them of the shady background of the victim. In the twenty-first century, with access to the Internet available to all and information from data banks networked into dossiers reserved for official use only (but easily accessible to h ackers and crackers), stalking will not only increase but be facilitated by a new generation of portable computers. Organic nanocomputers may one day be implanted in the human brain, making possible a new crime: mindstalking. Unauthorized intrusion and seduction will reach directly into the victims brain, making the stalker harder to evade and even more difficult to escape. VIRTUAL CRIMES Stock and bond fraud is already appearing on the Internetstocks and bonds that appear on the markets, are actively traded for a short time, and then disappear. The stocks and bonds are nonexistent; only the electronic impulses are real. In a recent case, a trader was paid $9 million in commissions for what appeared to be some $100 million in sales of bonds. But investigators now feel that these bonds may never have changed hands at all, except over the Internet. In the future, a virtual-reality expert could create a hologram in the form of a respected stockbroker or real estate broker, then advise clients on the Internet to buy certain stocks, bonds, or real estate. Unsuspecting victims acting on the advice might later find that they had enlarged the coffers of the virtual-reality expert, while buying worthless or nonexistent properties. This is just the tip of the iceberg in what might be tagged as virtual crimeoffenses based on a reality that only exists over the computer. As virtual reality becomes increasingly sophisticated, it is the young adults in the first decade of the twenty-first century whohaving grown up with virtual realitywill create the software and determine the legal and criminal uses of this technology. And with virtual reality potentially reaching directly into the brains of recipients via organic computers, the ability to separate reality from the truth outside, will be one of the greatest challenges of the twenty-first century. TWENTY-FIRST CENTURY EXPECTATIONS The outlook for curtailing computer crime by technology or conventional law-enforcement method s is bleak. Most agencies do not have the personnel or the skills to cope with such offenses, and to date all high-tech approaches have been met by almost immediate turnabouts by hackers or crackers. As individuals see and talk to each other over computers in the next few years, and as nanotechnology makes computers even more portable, new technology will emerge to protect data. But simplifying systems to make them more universally acceptable and accessible will also make them more vulnerable to intruders. Control of access by optical patterns, DNA identification, voice spectrographs, encryption, and other methods may slow down hackers, but no method is foolproof or presents much of a challenge to todays most-talented hackers. The trouble is that in the future many more users will have skills far beyond those of todays crackersa process one expert termed the democratization of computer crime.. Still, there is much to be gained by easy access to the Internet. The cyberpunk imperative s, a code subscribed to many hackers, include: (1) information should be free so that the most capable can make the most of it; (2) the world will be better off if entrepreneurs can obtain any data necessary to provide needed or desired new products and services; and (3) decentralization of information protects us all from Big Brother.. Computer crime probably cannot be controlled by conventional methods. Technology is on the side of the offender and motivation is highits fun, exciting, challenging, and profitable. The only real help is one that has not proven very successful in recent decades: conscience and personal values, the belief that theft, deception, and invasion of privacy are simply unacceptable. Behavioral psychologists argue that all values are learned by a system of rewards and, to a lesser extent, punishment. Thus, if these values are necessary for survival, children should consciously be conditioned to live by them. If all citizensall computer userswere taught these values and sought to live by them, the Internet could become the wondrous and friendly place its creators have envisioned. Ironically, the greatest possible allies to be found in this search for values are the adolescent hackers of the 1980s, many of whom are the software programmers of the 1990s. In his book, Secrets of a Super-Hacker, a hacker named Knightmare says that true hackers love to break into systems and leave proof of their skills, but do not hurt individuals by stealing tangible goods or money, or destroying files or systems. Hacker ethics, Knightmare writes, include informing computer managers about problems with their security and offering to teach and share knowledge about computer security when asked. Increasingly, government and business computer managers are asking. Many of the Fortune 500 companies and numerous government agencies have hired hackers to test their systems and even design new security protocols for them. Thus, hackers are helping to protect the inf ormation superhighway from crackers and terrorists. As one hacker says, Hackers love computers and they want the Net safe. In conclusion, computer crime is major part of our technological society and should be dealt with similarly to real crimes. In the electronic world, it is harder to find the criminal and track him/her down. In the end, all advantages, such as using a computer, come with their disadvantages, computer crime in its worst form. Bibliography Works Cited Caryl, Christian. Reach out and rob someone. Russian V. Levin robs Citibank. U.S. News World Report April 1997: 58 Chidley, Joe. Cracking the Net. Macleans May 1995: 54-56. Gill, Mark Stuart. Cybercops take a byte out of computer crime. Smithsonian May 1997: 114-116. Roush, Wade. Hackers taking a byte out of computer crime. Technology Review April 1995: 32-40 Sussman, Vic S. Policing cyberspace. U.S. News World Report Jan 1995: 54-60 Witkin, Gordon. Wanted, in cyberspace. U.S. News World Report March 1994: 71 Word Count: 2719 None Provided2 Analysis Essay