VIGNETTE
Questions to Consider:
1. Peter Gumble, European editor for Fortune magazine, comments, "Kerviel is a stunning example of a trader breaking the rules, but he's by no means alone. One of the dirty little secrets of trading floors around the world is that every so often, somebody is caught concealing a position and is quickly - and quietly - dismissed... [This] might be shocking for people unfamiliar with the macho, high-risk, high-reward culture of most trading floors, but consider this: the only way banks can tell who will turn into a good trader and who even the most junior traders to take aggressive positions. This leeway is supposed to be matched by careful controls, but clearly they aren't foolproof." What is your reaction to this statement by Mr. Gumble?
My reaction here in the statement of Mr. Gumble is that many of traders now are caught concealing a position that is why we neeed to be matched by careful controls with this , choose the right trader with a good position.
2. What explanation can there be for the failure of SocGen's internal control system to detect Kerviel's transactions while Eurex detected many suspicious transactions?
The failure of SocGen's internal control system to detect Kerviel's transaction is that the transactions were entered by an unnamed assistant tarder, thus raising the issue of collusion and indicating even more widespread weaknesses in internal controls.
Discussion Questions
CASE STUDY 3
1. Do you think that Mike Lynn acted in a responsible manner? Why or Why not?
Yes , because while he began investigating a flaw in the internet operating system(IOS) used by CISCO routers, he discovered that it was possible to create a network worm and he decided to speak out and let IT security professionals know about the danger.
2. Do you think that Cisco and ISS were right to pull the plug on Lynn's presentation at the Black Hat conference? Why or why not?
3. Outline a more reasonable approach toward communicating the flaw in the CIsco routers that would have led to the problem being promptly addressed without stirring up animosity among the parties involved.
A flaw in its operating software that makes its routers and switches vulnerable to a denial-of-service attack and offered a software fix. Internet Security Systems and Symantec both said they raised their Internet threat levels because of evidence that attackers were exploiting the flaw.link: http://www.crn.com/news/security/18824753/week-in-security-cisco-router-flaw-windows-patch-earnings.htm;jsessionid=cOWol26sRM35ybd5IR52EA**.ecappj01
CHAPTER 4- PRIVACY
VIGNETTE
Questions to Consider:
1. What information about you is being held, who is holding it, and what is this information being used for?
Breaches of Privacy resulted from simple curiousity snooping the records of a friend, neighbor. These incidents are widespread and involve only a tiny fraction of IRS employees who are disciplined and in some cases prosecuted. Overall, the IRS has handled privacy concerns with great care.
2. What measures are being taken to safeguard this information and what happens if it is inadvertently or deliberately stolen?
For me the safety measures to safeguard this information is to be a good and wise user . Be observant to your environment that there is no one would steal your records .
Discussion Questions
CASE STUDY 3
Google is firmly committed to the privacy of our advertisers and users. [ While Google does add a cookie to a user's computer when he/she clicks on an ad, this cookie expires in 30 days, and Google does not associate a user's search activity with his/her ad click history. Further, Google does not collect or track personally identifying information, and does not reveal individual information to third parties. Users who do not wish to participate in tracking activities can easily disable Google's conversion tracking cookie in their Internet browser's user preferences settings. These users will not be included in your conversion tracking statistics. ] link: http://www.weegy.com/?ConversationId=F53E8D73
2. What do you think are the major privacy concerns raised by Google's business model and applications?
I think the major privacy concerns raised by Google's business model and applications is there technology was very open to the public and so others can sneak on it
3. Do you think Google has taken adequate measures to protect its user's privacy? Explain your answer.
"Trust is hard to earn, easy to loose, and nearly impossible to win back.In a time where technology is developing faster than ever before, it is very difficult to regulate information privacy. Consumers have chosen to trust many companies with their private information in exchange for services that are used on a daily basis. Google is in the middle of the debate about information privacy with its internet based services that collect and store enormous amounts of data about its users. Through a detailed privacy policy, a consumer’s ability to choose between internet services and a trustworthy reputation Google has convinced consumers to use their products despite collecting and storing enormous amounts of personal information. To a certain degree information gathering can be ethical and very useful; however, Google has stepped over the boundary of ethics because of the amount of information they are gathering through their various products and their loose privacy policy that allows for third party exposure. This behavior is unethical because it does not "most dutifully respect the rights of all affected.
link:http://www.ethicapublishing.com/ethical/3CH15.pdf
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