US Financial sector is largest in the world and billions of dollars are transacted through this system not only within US but also across the border. The relative penetration of the financial system into the very fabric of American society therefore gives financial sector a more critical place within the modern American society. With the advances in technology, most of the transactions in the financial sector take place online with the help of the internet and other information technology tools. Such high dependence on the information technology therefore makes the system highly vulnerable to the external threats including the cyber attacks.
Similarly, the energy sector is critical for the survival of the country because most of the manufacturing and our daily activity is supported by this sector. A complete collapse of this system therefore will put the country as stand still and probably no economic activity can be conceived without the support of the energy sector. Another important dimension of the cyber spying on the energy sector is basically to extract important information regarding the potential energy deposits which US companies explore all over the world and a systematic attack on this information therefore can cost Billions to US economy if it goes into wrong hands. It is believed that Chinese hackers are trying to intrude into the systems of the energy companies with specific target of extracting the important data on the oil and gas exploration. (Yemma, 2010)
These arguments therefore indicate that any type of cyber attacks on these two sectors can be significant from the point of view of the homeland security. Easy access to technology and significant improvement in the knowledge base of the cyber criminals and terrorists, it is really easy to conceive a cyber attack of any magnitude on both these sectors. It is therefore, really critical a pro-active approach to be adapted by the security agencies of US including homeland
US Financial and Energy Sector are vulnerable say a group of former US officials indicating the weaknesses of the system due to lack of proper legislations and inability of US to handle such cyber attacks in appropriate manner1. This lack of preparedness and vulnerability of the…
It has been suggested, that financial market development results into lower transaction costs for sending remittances besides can also improve the competition between the institutions involved in international money transfer and other related services. It also improves the process of financial market development within any country or region.
The World Bank, created in 1944 is a UN agency. The World Bank is owned by 184 countries and it lends $20 billion each year (Peter P. Rogers). While the UN focuses on political issues, the World Bank focuses on economic growth. However, the meaning of development has changed over the years.
According to Arreymbi (2005, pp.289-291), since the modern banking business widely employs innovative computing techniques and most modern information technologies, it assists criminal groups to close international delinquent transactions easily. Longe, Ngwa, Wada, Mbarika, Kvasny (2009) also point out that the revolutionary developments in the field of electronics have greatly aided the criminal groups to get easy access to the new technical means, and thus embezzle huge funds, avoid tax barriers, and launder large sum of illegal money.
Student Name Professor Name Course Name Date Prospectus For this prospectus, I have selected the third suggested research question, about the greatest crime threat today and the best methods to combat it. My initial thesis is that cyber-crime is the most dangerous type of crime in today's world, due to the saturation of technology, computers, and especially Internet networks in both home and business life.
t faces any bank in the form of lack of inadequate capital for promoting profitable investments, which results in the selling of all its important assets. This is one of the major reasons for initiating acts various cases of frauds by managers and illegal business acts due to
nt” and linked with it also “democracy” are loaded according to the needs of economically powerful states (Lijphart, 1999) which makes interpretation of some tables used by the OECD and other international organizations very difficult. These must be balanced with accounts
(Bortz 14). Even though the government and industries are resisting change due to the huge investments they have made in nuclear energy, the phasing out of nuclear power is almost certain due to public pressure
According to the author, the threat that Al Qaida and other Salafi-Jihadist groups pose to the United States of America is still significant because the number of these groups, attacks and fighters have been increasing since 2010. Attacks carried out by Al Qaida in the Arabian Peninsula are the ones that pose significant threat to the US homeland.