Business Law WAC Paper
I think cybercrimes are wrong because of the following arguments analyzed below. Cybercrimes are crimes committed by the use of the computer as the primary gadget in the process of committing these crimes. Cybercrimes mainly result in the loss of vital and essential information either for an individual, a firm or a large organization. The cases of cybercrimes are highly reported in the past, and they negatively affect the parties involved. In most cases, these cybercrimes benefit the parties that perform these crimes in several ways, but on the other hand, they negatively affect the parties acted on by the trackers. In case a cybercrime is presented to an organization, the organization is profoundly affected since it loses its top necessary information to strangers who later interfere with the processes and ongoing of the organization’s programs. It becomes so hard to trace who performs these cybercrimes if they occur either to a person or an organization at large.
The suspects can be highly charged due to the inability to trace those that committed the cybercrimes at a particular time. When an organization loses some of its top secrets, it may experience more losses, for example, financially where it may lose its funds without its knowledge. All these form the basis for the fall of an organization that in the past reported to be successful by making a lot of profits from its income-generating activities. Cybercrimes are significant contributors to the failure on an organization in case it does not take precautionary measures earlier enough before the effects come into existence. Looking at various researches, it is clear that cybercrimes have high adverse effects that affect the organization negatively making its success vulnerable.
On the occurrence of cybercrimes, the cost of reconstruction of the destroyed actively usually, it is so high. The individual or the company affected has to spend its funds to ensure full recovery of the company. On researching the spending habits of these companies and individuals, it is clear that the funds pay for recovery were made for the planned uses. For the full restoration of these affected cases, funds used in most cases involve large amounts that later drive a firm deficit of its funds. On the other hand, in cybercrime is done to an individual, the individual also ends up spending a lot of his savings to restore the losses that arose later from these crimes. Other individuals also turn out being insolvent on spending much of funds set for other purposes.
Also, one can spend part or all of their savings made for a specific purpose and therefore, that initial goal is not attained at all. With the occurrence of these crimes, the firms and individuals may end up borrowing money to cover the costs of the expenses incurred to recover their activities. Unplanned debts for unnecessary expenses may end up unpaid, resulting in increased bad debts cases to the organization. Funds that would be spent for the development of an organization end up pay for recovery, which is a downfall to the organization and also the individual. Restoration of lost data by an organization results in unnecessary expenditures that later affect the revenue flows of at personal and also an organizational level. An individual may also turn out to be bankrupt due to unplanned spending in the occurrence of these cybercrimes.
Cybercrimes also affect an organization negatively in that it loses its positive corporate image in the society at large. Cybercrimes lead to negative corporate image installed in an organization since it results in losses to the organization which have adverse effects on the enterprise. To redeem the organization from this bad image publicity is necessary, which is also so costly. Imagine how to restore the positive image of a company damaged by the occurrence of huge losses from cybercrime. It is usually too expensive to restore that positive image once it is destroyed and to imagine in this case where strangers cause it without the consent of the affected party. The employees may also be accused and end up fired from an organization from suspected issues of the parties involved in committing the cybercrimes. The restoration of the corporate image also requires a lot of processes taking into account the various parties in a whole organization. Think of the number of parties in an entire organization ranging from employees, managers, directors and also the customers served by that organization.
The process of reaching all these parties involves a lot of expenses and procedures. Reaching out, all these parties also include a lot of persons used as agents of change who are paid a lot of money. Experts are also required who research on the various methods and procedures necessary for reforming the positive image initially installed in the organization. A lot of time is also wasted for the full recovery of the organization, for example, think of the time taken to look for experts and also reconstruct the history of the organization. The time taken in the recovery could be used for building on the developments planned earlier. However, this is not the case once cybercrimes get in place because earlier plans diminish and allow for changes that come in due to the commission of the cybercrimes. On the occurrence of these crimes also, insurance is necessary to recover the losses and compensate the affected parties. For example, in case the injuries resulted to deprivation of the companies economic resources the company may be forced to take precautionary measures like ensuring the companies data and materials so as it will be compensated in case of future occurrence of the same
situation.
Data loss as an example of cybercrime, the loss of data may be insured against to prevent further occurrence of injuries due to compensation of those losses. In this case, the organization can buy copyrights and also trademarks against its data that it becomes safe from use by unauthorized persons. Individuals can also decide to purchase copyrights as countermeasures against another case of the loss of personal information that is so important and key. These measures, however, are too expensive to put into place and require experts who are so rare to be found. Individuals and organizations, therefore, end up spending their resources allocated for other functions to purchase these securities as a protection measure to their information.
Cybercrimes also result in long-lasting effects, for example, in case an individual loses his personal information that is so key for his or her survival. In this case, he might be required to change that information as recorded and filed in ownership rights. The processes involved in this case are so complex, and a lot of formalities are also included and in the case of an illiterate person or a person living in a rural area it may be so challenging to follow up. Trademarks and copyrights purchase procedures are also very complicated and expensive. One is required to move from one government office to another and think of all time wasted in moving around. Individuals and organization officials spend a lot of time in purchasing and following up on insurance claims to the various insurance companies. Restrictions may also be put in place by the ruling government that hinder some people and organization from accessing several protective measures. These restrictions render some rules special for some persons or companies who can easily access them. Those who cannot access these services end up being isolated from enjoying their benefits and protecting their data from loss.
Another adverse effect of cybercrimes is that it may lead to job loss, for example, to the employees of a particular organization. In case data is lost in an organization, some employees end up suspected as the cause of the loss, and they are fired. On the firing of employees, they lose jobs for cases that they did not cause at all and therefore their life are at astray. Imagine if losing a job for being suspected for causing data loss occurring in an organization you work with and the feeling after that case. The firing of these alleged employees renders them jobless, and therefore, they do not have any other place to earn their living. Think of termination of a job with some time notice so as an individual can plan on what to do after the firing. The individual may experience a lot of depression from this because there is no ultimate proof that he or she was the cause of these data loss.
On another case of study, cybercrimes are known to result in costs being spent on compensating customers affected by the crimes. For an organization which experiences these crimes, customers may be affected directly or indirectly, and therefore they have to be compensated for their losses. An organization has to protect its customers from any losses caused by any parties, either internal or external ones. The organization does this with the aim of maintaining its customers because of the stiff competition evident in the market. The spending by the firm to compensate its customers involves a lot of funds used to cover up the entire expenses. These funds could ins be used to grow the organization by, for example ,developing another branch of the same firm. In this way, the market share of the organization is increased because the number of its customers becomes more branches attracts more customers. Cybercrimes also lead to the loss of intellectual` property by either individual or an organization in the market system.
Data loss is a major cause of other risk behaviours which include loss of funds. Once a stranger has access to the personal information for example bank accounts pin and logins to other confidential they can easily withdraw ones funds found in those accounts. Other cybercrimes later result in life endangering incase that information lands on hands of enemies. The enemies may use the login deprive the accounts of the affected parties leading to more negative effects to the organization affected. Restoration of the lost information is also so difficult because the initial logins are already in the hands of strangers who in most cases, have bad plans against that individual or the organization. Some penalties may be instituted against the workers of the affected companies in case suspecting of some members. These penalties demolish the relationship between the organization and the customers or the employees. The excellent relationship existing between the customers and the employees is destroyed, and therefore, the customers lose the confidence in those companies. The loss of positive image is a terrible effect of cybercrimes which render them unacceptable in the economy.
In conclusion, many arguments show that cybercrimes are bad in the market at large since they result in various negative effects as discussed. Therefore, not all do these crimes benefit the society may it be individually or collectively. Some of adverse effects of these cybercrimes include the loss of jobs which occur to the suspected employees in an organization. These employees lose their jobs on basis that they cannot account for at all. The cybercrimes also lead to the loss of important data which is important for the organization to restore by measures such as the purchase of protective rights of ownership. These ownership rights tend to be so expensive to install in the affected organization. The loss of top -secret information defers with the safety of the organization’s information and also personal information. People and organizations also experience high losses is paying the affected parties in case of cybercrimes.