UK, USA and UAE Cybercrime Law Essay Example | Topics and Well Written Essays - 1000 words

UK, USA and UAE Cybercrime Law - Essay Example To this effect, communication, business and financial transactions, international trading, storage and distribution of private and public records and even the dispensation of employment duties are exacted online, in these states. Nevertheless, given the high financial and security stakes that have come to stalk the Internet, cybercrime has become increasingly common and complex. To this effect, high-tech cyber based crimes such as terrorism, computer intrusions, espionage, identity theft, child pornography and fraud have become a major concern to the US and the UK. For this reason, the US and the UK have made legislation to counter and extirpate cybercrime, albeit these laws have their strong and weak points. This study aims to spot the light uponthe major cyber attacks, and associated threats in the UAE, US and UK and makes SWOT (strengths, weakness, opportunities, and threats) analysis of the current cyber crime laws and suggests approaches and mechanisms needed to improve the effe ctiveness of the cyber act. INTRODUCTION The phrase Cybercrime refers to any legally proscribed action that is performed over the Internet, a local network or the computer or any other device that can support the Internet, a local network or function of a computer. ... Because of this, it becomes clear that the concept of cybercrime and laws on cybercrime are state-specific. The leaps in the communication and information technology have promoted new technological trends like the internet spread, social networks, cloud computing, and VOIP like never happened before. The introduction of information technology solutions including e-commerce solutions, social networks, and on-line banking solutions has opened the door widely to the growing number of cyber terrorism threats and cyber attacks. Despite the rise of the cyber crime rates in UAE, the shortcomings in development of cyber crime laws and legislative provisions that regulate the up-mentioned technologies usage are huge.According to recent survey conducted by Norton, Bulent Teksoz, Chief Security Strategist, Norton outlines the total cost of cyber crime in the UAE - found to be $626m per year(Teksoz, 2010).Hence, the need to initiate a nation-wide act to counter the cyber crime, either on the nat ional and cross-border levels,arises. The state-specific nature of cybercrime in turn brings about an aspect of variance and makes it possible to identify the pros and cons and strengths and weaknesses of these cybercrime laws, as shall be seen forthwith, in the cases of the US and the UK. Meanwhile, Trend Micro published a study in 2009, which reported the number of computer system crashesin the UAE as a result of cyber attacks reached 248,000, accounting for 20 percent of the total cases in the GCC countries(Ajbaili, 2009).Few countries in the region, such as; UAE, and Saudi Arabia, have drawn up cyber laws in an attempt to fight the cyber crimes (Bednarski, Chen, Chen,

Business - Report Evaluation Essay Example | Topics and Well Written Essays - 750 words

Business - Report Evaluation - Essay Example In fact, prices are so depressed that they are not expected to rise to the pre-2007 levels at least until the next 10 years. Nevertheless, the sector continues to garner the attention of overseas investors, who have contributed to a certain extent in sustaining real estate prices. Initial gains made over the last 2-3 years have been eroded during recent months primarily due to the sovereign debt crisis in Europe and a reduction in consumer spending. Consumers are having serious concerns over their employment opportunities, which are having a direct impact on the hotel and leisure industries. Thus, it is necessary that the government take steps to restore consumer and investor confidence in order to stimulate some positive trends in the industry. Without such steps, the UK commercial property sector will become too dependent on external funding and thus react more sharply to events in the market. Thus, it is necessary for the government to understand the crucial role of the commercial property sector and undertake steps to improve its performance over the coming months. Investment Banks The Investment banking sector is important for the economy since it helps governments and corporations raise capital through adequate sources of funding. Yet, the 2008 financial crisis was caused due to the reckless acts of many investment banks and the toxic bets they made in the mortgage markets. Despite the fact that their actions brought many economies on their knees, none of the key individuals have been prosecuted or prevented through effective legislation. The primary issue here is not about the losses caused by the actions of investment bankers, but an understanding of the main reasons, which influence their decisions. The primary issue is with regards to effective management and oversight, which is rare and often inept at monitoring the actions of employees. On an average, bankers put in a 90-hour workweek and do not have any formal appraisal processes in place. Most imp ortantly, their compensation is based predominantly on performance and the profits that they can realize through their activities. This bonus-driven compensation not only creates pressure on employees to resort to high-risk taking, but also incentivizes those that succeed from taking such positions. Individualism and secrecy are other issues, which prevent any effective collaborative teamwork among employees in investment banks. All these issues suggest that there is a serious need to revamp current practices of executive compensation. Excessive bonuses should be done away with and bankers must be encouraged to perform towards long-term objectives rather than strive for short-term performance. Banks can also take note of players such JP Morgan and Goldman Sachs, which were able to overcome major losses during the financial crisis due to their emphasis on teamwork, information sharing and an inspiring organizational culture. Public Relations Public Relations (PR) are the set of strat egies and actions that allow an organizational entity to promote it in the eye of the public. While this sounds as an effective medium of promotion and branding, PR can be used to shape public perception through various tricky methods using mediums such as the press to propagate false information. Thus, PR has evolved from a mere communicative mechanism into a comprehensive paradigm that shapes perceptions in the public sphere. While PR is an