Accessing bank data crime through the use of various information Dissertation

Accessing bank data crime through the use of various information technology in Saudi law - Dissertation Example However, the same has also led to a simultaneous rise in data crimes, and identity thefts have increased manifold. The ‘playing field’ for criminals has also widened, opening up newer avenues for committing virtual crimes; thus replacing unpleasant physical encounters with cyber crimes (Yusuf 2003). For instance, prior to the computerization of banks, most of the bank frauds or thefts involved armed robberies and breaking into banks causing physical injury to people and considerable damage to property. Today, the criminals use internet to break into customers’ accounts and steal their identities for withdrawing cash, thus only causing monetary damage. The tools available at the disposal of such criminals have also risen considerably with the advent of information technology, where frauds and thefts can easily be committed from the comforts of one’s own home (Forder, Quirk, 2001; Kono et al, 2002). The fact that computers and internet have made life easier f or customers in the banking sector, with services enabled through technology such as ATMs, internet banking, and bank by phone services, cannot be denied. However, at the same time, the complexities of bank-related crimes have also increased substantially and simultaneously. It has posed newer challenges for law enforcement agencies to monitor and control such crimes, making it practically mandatory for the law makers to enact new cyber laws; and their officers to gain and be proficient in computer science / forensics. As humans grow more and more dependent on technology, it is highly likely that computer related crimes would increase simultaneously (Lee, Lee, & Kim, 2007). Hence, the appropriate enactment and application of laws and effective use of technology are the only tools to combat and address such crimes with utmost efficiency. Furthermore, it is also equally important, rather imperative, for customers to understand and be aware of such crimes so as to secure their bank acc ounts from such fraudulent practices (Sathe, 1999; Salvatore, 2006; Jaffer, 2005; Laforet 2008; Dar and Presley 2003). This paper seeks to discuss, analyze and recommend ways to combat the challenges posed by technology enabled crimes within the banking sector, and use the same as an effective means of securing and preventing bank data thefts. Meaning and Definitions of key terms used: Data: According to Article 1 (3) of the Anti Cyber Crime Law, the term ‘data’ refers to â€Å"Information, commands, messages, voices, or images which are prepared or have been prepared for use in computers. This includes data which can be saved, processed, transmitted, or constructed by computers, such as numbers, letters, codes, etc.† Thus with reference to banks and for the purpose of this study, data thefts refers to the theft of all or any of the above mentioned data by use of information technology. Significance: This study would help in identifying the various ways in which data thefts occur in banks and raise awareness on the issue. Furthermore, it is intended to highlight the many ways in which technology can be used to counter such crimes, and address them through effective application of technology (Zheng and Ni, 2006). This study would also include various recommendations to reduce such thefts through network security; ensure greater protection of customers’ data by using tools which would prevent the cyber criminals from hacking and other similar ID related frauds. Thus, help the banks in improving its productivity as well as profitability by offering secure transactions. Scope of study: This study aims to highlight the

Small and medium sized enterprises and the risks they face in an Essay

Small and medium sized enterprises and the risks they face in an international environment - Essay Example The study of international businesses and internationalization has been traditionally focused on the analysis of large corporations. Despite the growing importance of small and medium businesses, they often remain beyond the scope of scholarly studies. Apart from the fact that small and medium enterprises play a crucial role in the rapid advancement of economies, the prevailing majority of today’s international and multinational corporations have once been small and medium domestic enterprises. These are just some of the many reasons why the place of small and medium businesses in international trade should not be disregarded. More important is the question of risks faced by SMEs as they enter international trade. Recent advancements in technologies and transportation facilitate the subsequent integration of small and medium business forms into international trade communities. Therefore, SMEs should be aware of and be prepared to face international trade risks. Small and medium enterprises: Why so neglected? Small and medium enterprises are generally considered to create a strong foundation for the rapid advancement of economies. It is not surprising that so many developing countries provide SMEs with greater flexibility and freedom from taxation and administration burdens, to speed up their development and contribution to nations’ economic development. However, the current state of research often leaves small and medium-sized enterprises beyond the scope of analysis.... Yet, it should be remembered that â€Å"many MNEs developed from large, mature, domestic firms, and they commanded attention because they wielded significant economic power, especially after World War II† (Chandler 1986; Dunning 1981; Oviatt & McDougall 1994, p.45). Moreover, recent changes in the technological environment and transportation make it easier for domestic small and medium firms to expand to an international level. The growing number of consumers in international business makes international trade extremely attractive for domestic businesses, especially small and medium ones. Today, any small or medium businessman with a sufficient amount of capital can successfully conduct business anywhere in the world or travel to any part of the world, looking for international business opportunities (Oviatt & McDougall 1994). That small and medium enterprises find it easier to capture international business opportunities means the topic of their internationalization is becomi ng more urgent. Scholars in organization science are becoming more attentive to the issues of internationalization and international trade challenges affecting domestic SMEs. However, again, the most common issues considered in today’s research include the effects of public policies on SMEs, the nature and characteristics of entrepreneurial activities across countries, and comparing international and domestic enterprises (Oviatt, & McDougall 1994; Ohe et al. 1991). In light of these issues, a close look at the risks faced by domestic SMEs going into international trade is required. This report will help small and medium businesses going into the international trade