Short essay question 1.A federal statute requires banks to give their customers\

Question

Short essay question

1.A federal statute requires banks to give their customers" quick access" to funds from deposited checks. Given the problems we have seen with counterfeit checks, do you think this is a good law? Carefully assess all sides of the issue. if you could influence the federal government, how would you advise it to change or improve the law?

2. Reports on computer crime (not including software piracy and hacking among computer crimes) in newspapers and journals seem to be decreasing. Do as thorough a search as you can for, say, the past six months and document the most recently reported occurrences. Does a pattern seem to emerge about the kinds of reported computer crime that are popular this year?

Explanation / Answer

1.
According to the news paper, the banking industry's chief argument against giving consumers quick access to money deposited by check has been laid to rest.

Fears of huge losses on bad checks seem unfounded. Vincent Tese, New York State Banking Superitendent, said, "Ninety percent of New Yor banks reported no increased losses on checks in the first three months of a law mandating the time banks can take to credit checks to customer acoounts."

But there is need for more proper solution on this.

2.
a. If you receive a phone call from a security 'expert' offering to fix your PC - it's a scam. Here's how to avoid the 'Microsoft phone scam', and what to do if you fear you have fallen victim to it. See all PC security advice.

Recently I was asked to comment on a news story by a local TV station. There's nothing particularly unusual about that, but it struck me that this particular 'news' story was anything but new. It was in relation to a scam commonly known as the 'Microsoft phone scam'. This is something as a misnomer, as Microsoft has nothing to do with it, but the software giant's name is used by criminals in order to solicit money. Visit Security Advisor.
A quick check on Google Trends shows that the term 'Microsoft phone scam' first became popular in mid 2009, and peaked in September 2011. But the scam is still around, and my recent televisual experience suggests lots of people are being caught out. Indeed, there are regular posts about receiving calls on our forum. So here is how to avoid the 'Microsoft phone scam' in the first place, and what to do if you are a victim.

b. Most people associate tech support scams (AKA the fake Microsoft support call) with technicians sitting in a crowded and buzzing boiler room somewhere offshore.

Indeed all of the tech support scams we have tracked so far were with companies located either in Mumbai, Kolkata or elsewhere in India. But last month, we stumbled upon fake warning pages urging users to call a number for ’emergency tech support’.

When we rang the number, we were surprised to hear that the technician sounded American. It turned out that their company was based in ‘the sunshine state‘ of Florida, USA.

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