Category Archives: Crime & Criminology
Crime & Criminology topics on the science behind modern day security and risk management
First came Bitcoin, an application level network superimposed on the www internet platform allowing anonymous transactions in cyberspace. According to Wikipedia it is defined as a peer to peer payment system using open source software making it a truly decentralised currency (no controlling central bank), it defies regulation apart from the automatic code written to run it by anonymous coders who have no official authority or regulatory responsibilities. Bitcoins are created as a reward for payment processing work in which users who offer their computing power verify and record payments into a public ledger known as the Block Chain Ledger. Bitcoins are simply entries in the block chain and do not exist outside of it. The only safety valve has been the obstacle of converting Bitcoin credits into real local currency in order to use it in the real world markets. However, The first bitcoin ATM was installed in October 2013 in Vancouver, British Columbia, Canada.
Later variants tunnelled down for an even deeper network of transactional burrows.
We have already had many credit bubbles bursting in the real world of financial exchange even though all monies registered electronically should have a physical counter-part. Bitcoin is simply a logical technological extension of this transaction technology, but without the regulatory hang-ups.
Is their more bubble trouble waiting to burst in cyber-space?
Security, theft, and loss
A Wallet is defined as something “that stores the digital credentials for your bitcoin holdings.
Integral to bitcoin security is the prevention of unauthorized transactions from an individual’s wallet. A bitcoin transaction permanently transfers ownership to a new address, a string having the form of random letters and numbers derived from public keys by application of a hash function and encoding scheme. The corresponding private keys act as a safeguard for the owner; a valid payment message from an address must contain the associated public key and a digital signature proving possession of the associated private key.
It is not without its glitches though:
Bitcoin Network Shaken by Blockchain Fork, on MARCH 12, 2013
The very nature of Bitcoin and other block-chain systems is the risk of opening the internet sup-highways to organised crime, anarchists and terrorism through money-laundering and other clandestine fund raising and transactional activities, including the stealing & pilfering of funds.
Dark Wallet and the Darth eVaders
Now, on the back of all these developments comes ‘Dark Wallet!’ The Darth eVaders have arrived with their own eVersion of the ‘Death Star’ and no doubt will spawn even more nefarious activities.
Read the article: ‘Dark Wallet’ Is About to Make Bitcoin Money Laundering Easier Than Ever .
By encrypting and mixing together its users’ payments, Dark Wallet seeks to enable practically untraceable flows of money online that add new fuel to the Web’s burgeoning black markets.
“This is a way of using bitcoin that mocks every attempt to sprinkle it with regulation,” says Cody Wilson, one of Dark Wallet’s two 26-year-old organizers. “It’s a way to say to the government ‘You’ve set yourself up to regulate bitcoin. Regulate this.’”
Regulators abound, but where are the Jedi !?
Flash Rob Mobs
The following report recently appeared in Security Management (10/01/11) Vol. 55, No. 10, P. 20 Purvis, Carlton (U.S.A.)
The National Retail Federation’s (NRF) July survey of multiple offender crimes revealed that 10 percent of retailers have experienced a “flash rob,” a burglary style based on the flash mob phenomenon born from social networking. The survey found that of the retailers that had been victimized, half experienced repeat incidents. The survey also found that young males were most commonly involved in flash robs. The NRF is requesting heavier criminal penalties for participants, feeling that the premeditative nature qualifies for a consideration of felony charges in some cases, while Montgomery County, Md., lawmakers are striving to introduce legislation aimed at crimes perpetrated by mobs. The NRF advises retailers to be proactive in preventing such crimes by scanning social networking sites for possible clues and by training staff to recognize and handle a flash mob situation. Retailers should also share information with other organizations about potentially troublesome flash mobs, and should preserve any evidence that may exist after an incident involving a flash mob takes place, the NRF said.
Web Link <http://www.securitymanagement.com>
It used to be that such developments in the U.S. took up to ten years before it caught on in thr E.U. Until recently this lead time was about 2 years. Now with the internet it is getting even faster. The internet, like any other facilitating tool of convenience is a double edged sword. How long before Flash Mobs and organised retail raids in Finland and the E.U. ?
for more info, please see Personal Security Network website >>
Please send us details if you are aware of any such cases already occurring in Finland and the E.U.