Card Security For Republic Bank Customers

Card Security For Republic Bank Customers There is no doubt that most organisations today are becoming essentially dependant on the use of credit cards, arguably its most strategic asset, is to support existing business operations. However, credit card fraud and identity theft has continued to plague the banking and retail industries as there seems to be no feasible solution to these crimes. Advances in technology have opened a gateway for hackers to restructure their position of attack, intruding on ones personal life. The basis of this project is on the new Chip and PIN technology introduced on credit cards. Ive considered this to be an interesting topic because of the publicity this technology has been receiving across the world and it has even reached to our shores, here in Trinidad and Tobago. Hence, Republic Bank Limited one of the local banks would be the case studied in this research. Chapter two would encompass the existing literature on credit card history and Chip and PIN. This chapter would outline how credit cards have become smart cards and how the Chip and PIN cards are used. Chapter three gives the entire design of the project and the objectives to be obtained for the research. Moving to chapter four, the research framework adopted for this study on Chip and PIN and how it relates to the model undertaken in the research. The findings from this research would be summarized version of the data collected, with the analysis of the theory and research framework the author undertook in this study. In concluding, the author would report on the learning aspects of the research and provide an assessment of achievements, giving a position on the research question. Literature REVIEW This section is intended to place the scope of the project with literature surrounding the components of the research question. The Credit Card Transaction Process Discussed This payment mechanism was formally introduced in 1958, when the BankAmericard card, now known as Visa was franchised across the global community. By introducing an electronic authorization system, the BankAmericard was able to be used globally. Now by partnering with banks across the globe, Visa has been able to provide an international processing system for the exchange of money. The workings of a credit card transaction are such that it comprises of four main steps. These are: Authorization Batching Clearing Funding The cardholder requests a purchase from the merchant, which is then submitted to the acquirer by the merchant. The acquirer then sends a request to the issuer to authorize the transaction. Once the authorization code is sent to the acquirer verifying that credit is available, the transaction is authorized and the cardholder receives the product. (This is further explained in detail on page 9 of this document) This simple process of electronic transacting has opened up a world of e-commerce opportunities. From an information system perspective the processing workflow of an online credit card transaction is shown below: Figure 1: Online Credit Card Processing Workflow Diagram (Hubbard, 2003) Because of the vulnerabilities that lay in a transaction, more so the networks across which the information is exchanged, various security breaches can occur. Types of Credit Card Fraud There are many different types of credit card fraud. Fraudsters are very innovative in finding new ways of committing credit card crime and as technology changes so does their crime tactics. Security issues surrounding the card fraud has moved from the traditional ways of committing credit card crime (Application Fraud, Intercept Fraud and Lost/Stolen Card Fraud) to the modern techniques namely, Skimming, Site Cloning and most recently Triangulation. Skimming is the fastest growing type of credit card fraud around because of its simplicity. Pocket Skimming devices can be easily carried around and the cardholders data can be obtained by merely swiping the card through the battery-operated magnetic card reader. This technology has also evolved so as to read the data of Chip and PIN cards, with the use of a scanner. These scanners, which can write or even re-write the data on the Chip cards, are fully portable and have high storage capacities. Because some of these devices are not illegal, they are easily accessible to hackers and can be bought over the internet. Site Cloning involves cloning an entire site or just the pages where customers make purchases. Since the web pages are identical customers are not aware that their personal information is being compromised. Also, confirmation details are sent to the customer just as the official companys website would, so the crime goes undetected. The details entered on the cloned site are then used by the fraudster to commit credit card fraud. Another method of credit card fraud is Triangulation. Goods are presented on websites at discounted prices, which can be shipped to the customer before payment. Again, just as with site cloning, the site appears to be legitimate then the customer proceeds to enter their personal data. With this captured information the fraudster can then order goods from legitimate retail websites using the credit card number obtained. Due to these security issues surrounding credit card information security, there has been global industry-wide concern for the protection of cardholders data. Since security management is a systematic issue, a serious look at what can be done to prevent security breaches is necessary-whether it may be legislation, the use of fraud detection system monitors or the application of data encryption/ authentication techniques. Chip and PIN Technology Credit cards have been a feasible solution for making payment processing simple and efficient. The history of the credit card dates back to the 1900s when oil companies and proprietors created their own credit card as a means of obtaining customer loyalty and improving customer service. However, as with advances in technology, the credit cards have evolved from having just encoded magnetic stripes to modern day Chip and PIN cards, with embedded microchips, which can store and transmit data. These Chip and PIN cards were developed to provide an inter-operative system that would combat card fraud (counterfeit and plastic cards). This transaction processing infrastructure has enabled the cash-less revolution, whereby consumers, governments and businesses benefit from the electronic payment network, which has shifted payments by cash and cheques to an efficient electronic payment system. The mechanics of a credit card transaction is such that the merchant acquirer, usually the bank processes transactions on behalf of the merchant. This payment by credit card represents an offer for issuance of payment in exchange for the goods or services provided by the merchant, (Transaction Processing). There are two parts to this type of transaction processing: the first is front end processing which involves the capture of data messages across communication channels to the point of sale devices; and secondly the back end processing which involves the balancing of accounting information by acquirers and issuers and the submission of the payment to the acquiring merchants bank. As a result of the rapid advances in technology, data security continues to be a major concern as every transaction that involves the transmission data across networks is open to external attacks. Attacks on a consumers card information can come from any angle, whether it may be data thieves or network intruders. The Payment Card Industry Security Standards Council (PCI SSC), which comprises of major payment brands namely VISA, MasterCard, Discover and a few others, have created global compliance standards to protect cardholders data. These set of standards help govern and educate all merchants and organisations that process, store and transmit data, as well as the manufactures of the devices used in transaction processing. The PCI SSC (2010), Data Security Standard Quick Reference Guide, as summarized below, outlines the best practices for protecting cardholder data: Develop and Maintain a Secure Network Install and maintain firewall configuration to protect cardholders data. Do not use vendor-supplied defaults for system passwords or other security parameters. Protect cardholders data Protect stored data Encrypt transmission of cardholders data across open public networks Maintain a vulnerability management program Use and regularly update anti-virus software or programs Develop and maintain secure systems and applications Implement strong access control measures Restrict access to cardholder data by business need to know Assign a unique ID to persons with computer access Restrict physical access to cardholder data Regularly monitor and test networks Track and monitor all access to network resources and cardholder data Regularly test security systems and resources Maintain an information security policy Maintain a policy that address information security for all personnel Nevertheless, despite these procedures in place, there has been amplified instances of the various types of credit card fraud, namely Intercept Fraud, Skimming, Site Cloning as well as Triangulation. This propelled an industry and governmentà ¢Ã¢â€š ¬Ã¢â‚¬Å"led initiative in the UK to embark on the introduction of Chip and PIN card technology. Based on the EMV standard (Euro pay, MasterCard, Visa) Chip and PIN technology was launched in the UK on February 14th 2006. This programme was introduced to combat credit and debit card fraud, and to provide an ideal way of validating the cardholders identity. By utilizing smart card technology a microchip is embedded with the customers information which includes their unique four digit PIN. For transactions to be accepted, the customer PIN entered must match the one encoded on the microchip. These steps are further explained below: The card is inserted by the customer into the card reader. The card reader would then prompt the user to insert their PIN. A four-digit PIN is then entered by the customer. Once the reader accepts the PIN entered the transaction would be approved. Note the PIN entered is not displayed on the reader but rather represented by asterisks. The customer is issued a receipt as confirmation of the transaction process. This process removes the responsibility and accountability from the merchant to the customer for point of sale transactions. The card never leaves the customers hand and as such prevents skimming of ones card information. One of the benefits of the Chip and PIN cards is that the Chip itself is encrypted with a range of security features, which the transaction processing system uses to identify the cardholder. These security features are said to be virtually impossible to replicate. The terminals used for Chip and PIN transactions, use secure transmission technology to ensure the privacy of the cardholders data and can operate over a range of connectivity environments, such as wired, wireless and cellular networks. The PCI Security Standards Council also developed a framework of standards which is legally enforced through a merchant/service provider/card brand agreement. These include requirements that support the encryption of the cardholders account data and the point of sale terminal integration. Figure 2: Outline of the process of a Chip and PIN transaction The PIN entered replaces the request for signature as verification of the transaction. This is why the banking industry in the UK has campaigned for this technology, because signatures can be forged, however the PIN is unique to that person. Although the United States is yet to convert to this technology, countries such as Japan, China, Canada, Mexico as well as the majority of the European Countries have all introduced Chip and PIN technology and it is gaining momentum in various other countries including Trinidad and Tobago. Republic Bank Trinidad and Tobago Limited is the first local bank in Trinidad and Tobago to introduce Chip and PIN technology to make the concept of paying by credit card safer for cardholders. The bank adopted this type of technology because this is now an industry-wide conversion from the magnetic-stripe cards and it is also in keeping with the EMV standard. Conversely, a potential security issue with Chip and PIN card terminals is its capability of processing cards with the magnetic stripe as well. Because of this the request to enter the customers PIN can be bypassed by the merchant, with a receipt generated to be signed by the customer. Now because this option is still available it poses an added security threat to card transactions. So, unfortunately skimming still remains a huge problem for cardholders and sadly enough this includes Chip and PIN cardholders as well. Although this practice is slowly migrating from EMV compliant countries, once a card has been skimmed it can still be used in countries where the magnetic stripe is still prevalent, for example some Asian Countries and the United States. This is why many fraudsters can still create a fake card with stolen magnetic stripe information which can be used in for example the United States. The United States believes that although Chip and PIN has reduced fraud for face to face card transactions, there are a still a number of issues surrounding the security of the system used for this these transactions. Now as with any new system introduced, there have been a number of studies on whether Chip and PIN cards are really secure. So the question is has Chip and PIN technology impacted on the activities of overall card fraud or has the activities of fraudsters shifted from retail crime. In a study by Emily Finch (2010) The Impact of Chip and Pin Technology and The Activities of Fraudsters, it was recognised that since the implementation of Chip and PIN technology participants involved in card fraud made varying decisions when it came to their crime of choice. The Decision to Desist The Decision to Continue To work with others Shift to Distance Transactions Diversification of Theft into Identity The study also shows that there is a shift in the attack strategy of fraudsters from point of sale card fraud to Internet and Card Identity Fraud. In an analysis of Internet and Card Identity Fraud, we can note that Chip and PIN technology was not designed for preventing these types of card fraud. So, the question remains, was Chip and PIN successful at what it was set out to achievereduce card fraud? This too can be argued further as there are other limitations. How can one link a particular card to a specific owner? Once the PIN is known by the individual a transaction can be completed with ease. Other studies have shown that the card readers used for Chip and PIN transactions can be modified. In a study by a team of University of Cambridge Computer Scientists, they have uncovered a series of fatal flaws in the Chip and PIN system. One example is where the internal hardware can be replaced without external evidence of this. This new terminal could then be programmed and modified so that it performs just as a typical terminal, where the card details can be collected and allow criminals to make cards with a fake magnetic stripe, which along with the PIN would enable a fraudster to make valid purchases. Another example is that fraudsters can insert an electronic wedge between the stolen card and the terminal, which tricks the terminal into believing that the PIN was correctly verified. Further, with this wedge inserted, any PIN can be entered and the transaction would be verified. This type of fraud makes it difficult for the victims of the attack to be refunded by the bank as the receipt given is authentic and would state verified by PIN. The bank in turn would be accurate in stating that no refund is required as their records show verified by PIN. This type of complaint appears as an act of negligence by the cardholder as he/she allowed their PIN to be compromised. So based on this study the point of sale attacks are much more prevalent, since before the introduction of Chip and PIN cards, consumers only entered their PIN at ATMs. Now with the introduction of Chip and PIN, consumers are using their cards at various other public areas. To combat the compromising of the consumers PIN a shield over the keypad has been used as added security but in many public areas there are video cameras and a persons PIN can still be captured on footage. So, although the UK banking industry has claimed to have rolled out this new technology successfully in 2006, there seems to be some negative aspects of this technology. The architecture surrounding Chip and PIN technology is questionable and the onus is on the banking industry to ensure that cardholders information is protected. Additionally, it also seems that Chip and PIN terminals offer no difference to what the magnetic stripe terminals offered. These terminals can be tampered with, which is a clear indication that there needs to be accurate configuration of these terminals so as to secure the cardholders data when transmitting transactions and that is not vulnerable to incident of attack. So the intent of Chip and PIN technology has more so opened a new marketplace for fraudsters than prevent/reduce fraudulent activity. PROJECT DESIGN, OBJECTIVES AND RESEARCH METHODS The scope of this project is to outline the features of Chip and PIN technology and whether its implementation thus far has been beneficial. This section of the project would provide the methods involved in achieving the data for the project as well as the results based on the data collected. The chosen approach to this design is online research (journals/scholarly articles) along with a case study on the implementation of Chip and PIN technology in Trinidad and Tobago, with the case being Republic Bank Limited. Objective 1 A good foundation for this objective would be the interpretation of the credit cards history. How has this cash-less mechanism moved from a local innovation to a global payment mechanism by use of digital communication across networks? In gaining a clear understanding on the reason for the implementation of this technology, a wealth of research would be conducted on credit card technology and digital security. Objective 2 A holistic understanding on the basis of credit card fraud and the types of fraudulent activities and the steps taken to prevent credit card crime. What technologies have been implemented and the effects/benefits drawn from these approaches. Objective 3 Expanding from objective two also discussed would be whether or not since the introduction of Chip and PIN technology in the UK, has there been a cascading effect of this new technology across countries. Analysing the increasing number of fraudulent activities reported from statistics, which compelled the global banking industry to find a seamless solution for the protection of cardholders data. Objective 4 An assessment on the introduction of Chip and PIN technology by Republic Bank Limited, which would include sourcing information on its implementation and the benefits derived. Further research would be on the acceptance (or non-acceptance) of the technology by customers. Objective 5 Lastly, from the feedback received from the interview conducted and by analysing the incidents of attack on Republic Bank credit cardholders, what was the determining factor in the bank aligning themselves with the UK standards set by EMV? CONCEPTUAL FRAMEWORK In identifying the framework to be adopted that can be referenced to the literature in this research, the author considered the Delone and Mc Lean IS Success Model. Using this model, the author would explain the net benefits of adopting Chip and PIN technology, relating it to Republic Banks implementation of this technology. DeLeone and McLean IS Success Model In evaluating the success of Information Systems, the DM IS Success Model, systems quality measures the technical success, information quality measures semantic success and organisational impacts and user satisfaction measures the effectiveness of the system. The processes in the model are inter-connected by links, across the dimensions of the system. Figure 3: Depiction of the Updated Information Systems Success Model (DeLeone McLean 2002, 2003) The updated DM Model interprets the evaluation of a system in terms of the information, system, and service qualities and how these characteristics attribute to user satisfaction. As a result of using the system, certain benefits will be achieved and the net benefits will in turn (positively or negatively) influence user satisfaction and the further use of the information system. So, therefore three basic components make up this model, the creation of a system, its use and the consequences of its use. Case study as it relates to the ISS model. Republic Bank has been providing banking and financial solutions to individuals and businesses for over 160 years. Their mission is not only to provide efficient and competitively priced services but also to implement sound policies which will be beneficial to their customers. These factors presented provide clarity and influences the net benefits of the implemented Chip and PIN system at Republic Bank thus far. By use of the ISS model to map the research done in this project, the author would complete a step by step relay of the framework discussing the implementation of Chip and PIN by Republic Bank. Information Quality-Information quality refers to the accuracy/protection of the content of the data in transacting. How secure is the personalized data being transmitted across networks. When a customer presents their card to make a purchase, are they confident that their card information is protected because of the added security enabled on this card. System Quality-The system quality refers to the reliability of the network and the response time in transacting, notwithstanding the approved devices that accept personal identification numbers for all PIN based entries (the ease of use of the system functionalities). Therefore in rolling out this new technology the bank along with their partner merchants would train staff so that they are familiar with the best practice guidelines when using Chip and PIN. Service Quality-This refers to the back-end support systems that assist in usage of the technology. How reliable are Republic Banks servers and IP networks? User Satisfaction- This encompasses measuring the users entire experience-the purchase payment, receipt and service (the ease of purchasing without the fear of being a victim of fraudulent activity). Net Benefits -This is the most important success measure and it encapsulates the cost savings and the decrease in the value of fraudulent transactions arising from stolen credit card data. Was the implementation of this technology beneficial in reducing the incidents of card fraud? Are Republic Bank cardholders satisfied that their bank is on par with global industry changes? The focus of this success model lies in determining the impact the features of technology (information, system, and service quality) have on the variables user satisfaction, use, and net benefits. The main objective for using this ISS model is to establish the ultimate benefits derived from the use of information system both in individual and organizational terms. FINDINGS This chapter will illustrate the findings from the questionnaires submitted to a sample of the Republic Banks credit card customers as well as a formal interview conducted with an employee of Republic Bank Credit Card Centre. The aim of the chapter is to source an awareness of the topic area Chip and PIN by cardholders and the personnel interviewed. Primary Data Collection For the basis of the findings of this research the author conducted a formal interview with a middle management employee at Republic Bank and also distributed questionnaires to a sample of the banks credit card customers. A summarized version of the responses from the interview is represented in this chapter, based on the interviewees knowledge. The questionnaires distributed were mostly closed questions so as to deliberately avoid open-ended respondent answers. Approximately 120 questionnaires were distributed to Republic Bank Customers. Only the answers to the key questions are represented in this chapter. Summarized responses from the interview This interview was conducted with the Supervisor, Card Services, which prove to be very insightful. The Supervisor spoke about the banks vision for their credit card market, and how they plan to continuously innovate so as to maintain their customer base and attract new profitable customers. Since the credit card industry is a highly competitive one, the bank is constantly reviewing their interest rates and looking for new ways to give customer returns from the use of their credit card. Due to his long tenure at the bank and having the customer service background, the supervisor was able to give insight on what infuriates a credit card customer. He explained that customers become frustrated when they see added charges and puffed up late fees placed by the bank on their card statements. In view of the fact that most customers do not read the fine print when completing a credit card application, they are not totally aware of all the charges that can arise from delinquent payments. He f urther added that although queries like this can be explained by representatives at the bank who can provide valued solutions to the cardholders problem, the most infuriating of all queries from customers are unexplainable purchases on their account. At Republic Bank, fraudulent activity on a card can be detected from the use of their state-of-the-art security systems and their experienced fraud expert team that are in place to monitor and detect any unusual activity on a customers credit cards, but even with these measures in place, fraud can occur. The supervisor expressed that by implementing Chip and PIN technology for credit cards, the bank was able to be a step ahead of the competition and most importantly the card criminals. He also stated that although credit card fraud is not as prevalent in Trinidad and Tobago as in the developed countries, continuous education in counteracting fraudulent activities for their customer base is an effective method of addressing credit card fraud. He explained that Republic Bank has not had many eye-opening occurrences of notified credit card fraud but they believe that Chip and PIN technology is an innovative solution to the likelihood of this problem. He was also truthful in expressing that this technology is still new to the industry and all merchants have yet to convert to Chip and PIN enabled machines, therefore there is a window of opportunity for fraud until merchants are mandated to have these Chip and PIN enabled machines. He used the term mandate, because eventually all Republic Bank debit cards would also be chip enabled. In summing up the interview the author probed the supervisor on the banks position on the studies done by the University of Cambridge team on Chip and PIN technology and the tested flaws of the system. His response was quite interesting, because it ventured into a thought-provoking discussion on research. He lamented that the sphere of research done on any topic would result in the researcher seeking out the positive and negative aspects of it. How the data is interpreted, reflects the real value of the research done. Questionnaire Findings Question 5: How often and where do you frequently use your credit card to make purchases? Aim: To assess how often the average Republic Bank cardholder uses their credit card. Findings: Most Republic Cardholders in this study used their credit card regularly, at least five times per month. Credit Cards are used for purchases at the supermarket, restaurant and retail clothing stores. Question 6: Has your credit card information ever been compromised? If yes provide details. Aim: To determine the number of incidents of attack on Republic Bank credit card holders. Findings: Less than 50% of the respondents have never had their credit card data compromised. Question 7: Do you understand the workings of Chip and PIN technology introduced to Republic Bank credit cardholders and the value to be derived from using this technology? Aim: To determine the extent of the customers perception of this technologys value and how the card is used. Findings: Although some customers are guarded about the use of their credit cards, most of the respondents are confident in the service that Republic Bank provides and believes that implementing Chip and PIN gives them that added security against fraudulent activities, especially those customers that frequently travel abroad. Question 8: How do you think by using Chip and PIN cards for making payments will make it easier in transacting? Aim: To establish the efficiencies in the use of Chip and PIN cards, on the time taken to complete a transaction. Findings: Many customers applaud this technology as it reduces the time taken at the cash register when making purchases. It is simple, easy and convenient and most customers are truly happy as there is no need to write their signature. For this reason they find the system most efficient as it prevents their signature from the likelihood of being forged. ANALYSIS The main objective for the research completed on this topic, was to show how and to what extent the adoption of Chip and PIN technology has improved credit card security for Republic Bank cardholders. At a glance, before Chip and PIN technology was introduced in the UK, there was nation-wide educational literature on the benefits of the technology for banks, merchants and most importantly, the customers. However, it seems that this programme led by EMV, created more enthusiasm in the build-up to its implementation rather than the actual usage of the system. From the research, the mounting negative features of the technology and use of the system is outweighed the decreasing positive ones. It seems that the card theft criminals were focused on a solution to obstruct the successful use of the technology before the intention to use. The question remains, which facet of credit card fraud has Chip and PIN really reduced? The research show that for point of sale transactions Chip and PIN has been useful in the prevention of skimming ones card information, however the fraudsters have found alternative ways to improve on that tactic. Chip and PIN technology can only be used à ¢Ã¢â€š ¬Ã…“successfullyà ¢Ã¢â€š ¬? for point of sale transactions and not online transactions, so fraudsters have modified their techniques as with the modifications of the technology. Based on the research framework adopted, Republic Bank has measured their net benefits of adopting the Chip and PIN technology by encircling the information, service and system qualities to deliver user satisfaction and usage of the system with this technology. The success of any information system is multi-dimensional and the relationships among the constructs relate to the comprehensive evaluation of the system. The variable dependent on these constructs are the net benefits of this system, and for whom? This local company has app Card Security For Republic Bank Customers Card Security For Republic Bank Customers There is no doubt that most organisations today are becoming essentially dependant on the use of credit cards, arguably its most strategic asset, is to support existing business operations. However, credit card fraud and identity theft has continued to plague the banking and retail industries as there seems to be no feasible solution to these crimes. Advances in technology have opened a gateway for hackers to restructure their position of attack, intruding on ones personal life. The basis of this project is on the new Chip and PIN technology introduced on credit cards. Ive considered this to be an interesting topic because of the publicity this technology has been receiving across the world and it has even reached to our shores, here in Trinidad and Tobago. Hence, Republic Bank Limited one of the local banks would be the case studied in this research. Chapter two would encompass the existing literature on credit card history and Chip and PIN. This chapter would outline how credit cards have become smart cards and how the Chip and PIN cards are used. Chapter three gives the entire design of the project and the objectives to be obtained for the research. Moving to chapter four, the research framework adopted for this study on Chip and PIN and how it relates to the model undertaken in the research. The findings from this research would be summarized version of the data collected, with the analysis of the theory and research framework the author undertook in this study. In concluding, the author would report on the learning aspects of the research and provide an assessment of achievements, giving a position on the research question. Literature REVIEW This section is intended to place the scope of the project with literature surrounding the components of the research question. The Credit Card Transaction Process Discussed This payment mechanism was formally introduced in 1958, when the BankAmericard card, now known as Visa was franchised across the global community. By introducing an electronic authorization system, the BankAmericard was able to be used globally. Now by partnering with banks across the globe, Visa has been able to provide an international processing system for the exchange of money. The workings of a credit card transaction are such that it comprises of four main steps. These are: Authorization Batching Clearing Funding The cardholder requests a purchase from the merchant, which is then submitted to the acquirer by the merchant. The acquirer then sends a request to the issuer to authorize the transaction. Once the authorization code is sent to the acquirer verifying that credit is available, the transaction is authorized and the cardholder receives the product. (This is further explained in detail on page 9 of this document) This simple process of electronic transacting has opened up a world of e-commerce opportunities. From an information system perspective the processing workflow of an online credit card transaction is shown below: Figure 1: Online Credit Card Processing Workflow Diagram (Hubbard, 2003) Because of the vulnerabilities that lay in a transaction, more so the networks across which the information is exchanged, various security breaches can occur. Types of Credit Card Fraud There are many different types of credit card fraud. Fraudsters are very innovative in finding new ways of committing credit card crime and as technology changes so does their crime tactics. Security issues surrounding the card fraud has moved from the traditional ways of committing credit card crime (Application Fraud, Intercept Fraud and Lost/Stolen Card Fraud) to the modern techniques namely, Skimming, Site Cloning and most recently Triangulation. Skimming is the fastest growing type of credit card fraud around because of its simplicity. Pocket Skimming devices can be easily carried around and the cardholders data can be obtained by merely swiping the card through the battery-operated magnetic card reader. This technology has also evolved so as to read the data of Chip and PIN cards, with the use of a scanner. These scanners, which can write or even re-write the data on the Chip cards, are fully portable and have high storage capacities. Because some of these devices are not illegal, they are easily accessible to hackers and can be bought over the internet. Site Cloning involves cloning an entire site or just the pages where customers make purchases. Since the web pages are identical customers are not aware that their personal information is being compromised. Also, confirmation details are sent to the customer just as the official companys website would, so the crime goes undetected. The details entered on the cloned site are then used by the fraudster to commit credit card fraud. Another method of credit card fraud is Triangulation. Goods are presented on websites at discounted prices, which can be shipped to the customer before payment. Again, just as with site cloning, the site appears to be legitimate then the customer proceeds to enter their personal data. With this captured information the fraudster can then order goods from legitimate retail websites using the credit card number obtained. Due to these security issues surrounding credit card information security, there has been global industry-wide concern for the protection of cardholders data. Since security management is a systematic issue, a serious look at what can be done to prevent security breaches is necessary-whether it may be legislation, the use of fraud detection system monitors or the application of data encryption/ authentication techniques. Chip and PIN Technology Credit cards have been a feasible solution for making payment processing simple and efficient. The history of the credit card dates back to the 1900s when oil companies and proprietors created their own credit card as a means of obtaining customer loyalty and improving customer service. However, as with advances in technology, the credit cards have evolved from having just encoded magnetic stripes to modern day Chip and PIN cards, with embedded microchips, which can store and transmit data. These Chip and PIN cards were developed to provide an inter-operative system that would combat card fraud (counterfeit and plastic cards). This transaction processing infrastructure has enabled the cash-less revolution, whereby consumers, governments and businesses benefit from the electronic payment network, which has shifted payments by cash and cheques to an efficient electronic payment system. The mechanics of a credit card transaction is such that the merchant acquirer, usually the bank processes transactions on behalf of the merchant. This payment by credit card represents an offer for issuance of payment in exchange for the goods or services provided by the merchant, (Transaction Processing). There are two parts to this type of transaction processing: the first is front end processing which involves the capture of data messages across communication channels to the point of sale devices; and secondly the back end processing which involves the balancing of accounting information by acquirers and issuers and the submission of the payment to the acquiring merchants bank. As a result of the rapid advances in technology, data security continues to be a major concern as every transaction that involves the transmission data across networks is open to external attacks. Attacks on a consumers card information can come from any angle, whether it may be data thieves or network intruders. The Payment Card Industry Security Standards Council (PCI SSC), which comprises of major payment brands namely VISA, MasterCard, Discover and a few others, have created global compliance standards to protect cardholders data. These set of standards help govern and educate all merchants and organisations that process, store and transmit data, as well as the manufactures of the devices used in transaction processing. The PCI SSC (2010), Data Security Standard Quick Reference Guide, as summarized below, outlines the best practices for protecting cardholder data: Develop and Maintain a Secure Network Install and maintain firewall configuration to protect cardholders data. Do not use vendor-supplied defaults for system passwords or other security parameters. Protect cardholders data Protect stored data Encrypt transmission of cardholders data across open public networks Maintain a vulnerability management program Use and regularly update anti-virus software or programs Develop and maintain secure systems and applications Implement strong access control measures Restrict access to cardholder data by business need to know Assign a unique ID to persons with computer access Restrict physical access to cardholder data Regularly monitor and test networks Track and monitor all access to network resources and cardholder data Regularly test security systems and resources Maintain an information security policy Maintain a policy that address information security for all personnel Nevertheless, despite these procedures in place, there has been amplified instances of the various types of credit card fraud, namely Intercept Fraud, Skimming, Site Cloning as well as Triangulation. This propelled an industry and governmentà ¢Ã¢â€š ¬Ã¢â‚¬Å"led initiative in the UK to embark on the introduction of Chip and PIN card technology. Based on the EMV standard (Euro pay, MasterCard, Visa) Chip and PIN technology was launched in the UK on February 14th 2006. This programme was introduced to combat credit and debit card fraud, and to provide an ideal way of validating the cardholders identity. By utilizing smart card technology a microchip is embedded with the customers information which includes their unique four digit PIN. For transactions to be accepted, the customer PIN entered must match the one encoded on the microchip. These steps are further explained below: The card is inserted by the customer into the card reader. The card reader would then prompt the user to insert their PIN. A four-digit PIN is then entered by the customer. Once the reader accepts the PIN entered the transaction would be approved. Note the PIN entered is not displayed on the reader but rather represented by asterisks. The customer is issued a receipt as confirmation of the transaction process. This process removes the responsibility and accountability from the merchant to the customer for point of sale transactions. The card never leaves the customers hand and as such prevents skimming of ones card information. One of the benefits of the Chip and PIN cards is that the Chip itself is encrypted with a range of security features, which the transaction processing system uses to identify the cardholder. These security features are said to be virtually impossible to replicate. The terminals used for Chip and PIN transactions, use secure transmission technology to ensure the privacy of the cardholders data and can operate over a range of connectivity environments, such as wired, wireless and cellular networks. The PCI Security Standards Council also developed a framework of standards which is legally enforced through a merchant/service provider/card brand agreement. These include requirements that support the encryption of the cardholders account data and the point of sale terminal integration. Figure 2: Outline of the process of a Chip and PIN transaction The PIN entered replaces the request for signature as verification of the transaction. This is why the banking industry in the UK has campaigned for this technology, because signatures can be forged, however the PIN is unique to that person. Although the United States is yet to convert to this technology, countries such as Japan, China, Canada, Mexico as well as the majority of the European Countries have all introduced Chip and PIN technology and it is gaining momentum in various other countries including Trinidad and Tobago. Republic Bank Trinidad and Tobago Limited is the first local bank in Trinidad and Tobago to introduce Chip and PIN technology to make the concept of paying by credit card safer for cardholders. The bank adopted this type of technology because this is now an industry-wide conversion from the magnetic-stripe cards and it is also in keeping with the EMV standard. Conversely, a potential security issue with Chip and PIN card terminals is its capability of processing cards with the magnetic stripe as well. Because of this the request to enter the customers PIN can be bypassed by the merchant, with a receipt generated to be signed by the customer. Now because this option is still available it poses an added security threat to card transactions. So, unfortunately skimming still remains a huge problem for cardholders and sadly enough this includes Chip and PIN cardholders as well. Although this practice is slowly migrating from EMV compliant countries, once a card has been skimmed it can still be used in countries where the magnetic stripe is still prevalent, for example some Asian Countries and the United States. This is why many fraudsters can still create a fake card with stolen magnetic stripe information which can be used in for example the United States. The United States believes that although Chip and PIN has reduced fraud for face to face card transactions, there are a still a number of issues surrounding the security of the system used for this these transactions. Now as with any new system introduced, there have been a number of studies on whether Chip and PIN cards are really secure. So the question is has Chip and PIN technology impacted on the activities of overall card fraud or has the activities of fraudsters shifted from retail crime. In a study by Emily Finch (2010) The Impact of Chip and Pin Technology and The Activities of Fraudsters, it was recognised that since the implementation of Chip and PIN technology participants involved in card fraud made varying decisions when it came to their crime of choice. The Decision to Desist The Decision to Continue To work with others Shift to Distance Transactions Diversification of Theft into Identity The study also shows that there is a shift in the attack strategy of fraudsters from point of sale card fraud to Internet and Card Identity Fraud. In an analysis of Internet and Card Identity Fraud, we can note that Chip and PIN technology was not designed for preventing these types of card fraud. So, the question remains, was Chip and PIN successful at what it was set out to achievereduce card fraud? This too can be argued further as there are other limitations. How can one link a particular card to a specific owner? Once the PIN is known by the individual a transaction can be completed with ease. Other studies have shown that the card readers used for Chip and PIN transactions can be modified. In a study by a team of University of Cambridge Computer Scientists, they have uncovered a series of fatal flaws in the Chip and PIN system. One example is where the internal hardware can be replaced without external evidence of this. This new terminal could then be programmed and modified so that it performs just as a typical terminal, where the card details can be collected and allow criminals to make cards with a fake magnetic stripe, which along with the PIN would enable a fraudster to make valid purchases. Another example is that fraudsters can insert an electronic wedge between the stolen card and the terminal, which tricks the terminal into believing that the PIN was correctly verified. Further, with this wedge inserted, any PIN can be entered and the transaction would be verified. This type of fraud makes it difficult for the victims of the attack to be refunded by the bank as the receipt given is authentic and would state verified by PIN. The bank in turn would be accurate in stating that no refund is required as their records show verified by PIN. This type of complaint appears as an act of negligence by the cardholder as he/she allowed their PIN to be compromised. So based on this study the point of sale attacks are much more prevalent, since before the introduction of Chip and PIN cards, consumers only entered their PIN at ATMs. Now with the introduction of Chip and PIN, consumers are using their cards at various other public areas. To combat the compromising of the consumers PIN a shield over the keypad has been used as added security but in many public areas there are video cameras and a persons PIN can still be captured on footage. So, although the UK banking industry has claimed to have rolled out this new technology successfully in 2006, there seems to be some negative aspects of this technology. The architecture surrounding Chip and PIN technology is questionable and the onus is on the banking industry to ensure that cardholders information is protected. Additionally, it also seems that Chip and PIN terminals offer no difference to what the magnetic stripe terminals offered. These terminals can be tampered with, which is a clear indication that there needs to be accurate configuration of these terminals so as to secure the cardholders data when transmitting transactions and that is not vulnerable to incident of attack. So the intent of Chip and PIN technology has more so opened a new marketplace for fraudsters than prevent/reduce fraudulent activity. PROJECT DESIGN, OBJECTIVES AND RESEARCH METHODS The scope of this project is to outline the features of Chip and PIN technology and whether its implementation thus far has been beneficial. This section of the project would provide the methods involved in achieving the data for the project as well as the results based on the data collected. The chosen approach to this design is online research (journals/scholarly articles) along with a case study on the implementation of Chip and PIN technology in Trinidad and Tobago, with the case being Republic Bank Limited. Objective 1 A good foundation for this objective would be the interpretation of the credit cards history. How has this cash-less mechanism moved from a local innovation to a global payment mechanism by use of digital communication across networks? In gaining a clear understanding on the reason for the implementation of this technology, a wealth of research would be conducted on credit card technology and digital security. Objective 2 A holistic understanding on the basis of credit card fraud and the types of fraudulent activities and the steps taken to prevent credit card crime. What technologies have been implemented and the effects/benefits drawn from these approaches. Objective 3 Expanding from objective two also discussed would be whether or not since the introduction of Chip and PIN technology in the UK, has there been a cascading effect of this new technology across countries. Analysing the increasing number of fraudulent activities reported from statistics, which compelled the global banking industry to find a seamless solution for the protection of cardholders data. Objective 4 An assessment on the introduction of Chip and PIN technology by Republic Bank Limited, which would include sourcing information on its implementation and the benefits derived. Further research would be on the acceptance (or non-acceptance) of the technology by customers. Objective 5 Lastly, from the feedback received from the interview conducted and by analysing the incidents of attack on Republic Bank credit cardholders, what was the determining factor in the bank aligning themselves with the UK standards set by EMV? CONCEPTUAL FRAMEWORK In identifying the framework to be adopted that can be referenced to the literature in this research, the author considered the Delone and Mc Lean IS Success Model. Using this model, the author would explain the net benefits of adopting Chip and PIN technology, relating it to Republic Banks implementation of this technology. DeLeone and McLean IS Success Model In evaluating the success of Information Systems, the DM IS Success Model, systems quality measures the technical success, information quality measures semantic success and organisational impacts and user satisfaction measures the effectiveness of the system. The processes in the model are inter-connected by links, across the dimensions of the system. Figure 3: Depiction of the Updated Information Systems Success Model (DeLeone McLean 2002, 2003) The updated DM Model interprets the evaluation of a system in terms of the information, system, and service qualities and how these characteristics attribute to user satisfaction. As a result of using the system, certain benefits will be achieved and the net benefits will in turn (positively or negatively) influence user satisfaction and the further use of the information system. So, therefore three basic components make up this model, the creation of a system, its use and the consequences of its use. Case study as it relates to the ISS model. Republic Bank has been providing banking and financial solutions to individuals and businesses for over 160 years. Their mission is not only to provide efficient and competitively priced services but also to implement sound policies which will be beneficial to their customers. These factors presented provide clarity and influences the net benefits of the implemented Chip and PIN system at Republic Bank thus far. By use of the ISS model to map the research done in this project, the author would complete a step by step relay of the framework discussing the implementation of Chip and PIN by Republic Bank. Information Quality-Information quality refers to the accuracy/protection of the content of the data in transacting. How secure is the personalized data being transmitted across networks. When a customer presents their card to make a purchase, are they confident that their card information is protected because of the added security enabled on this card. System Quality-The system quality refers to the reliability of the network and the response time in transacting, notwithstanding the approved devices that accept personal identification numbers for all PIN based entries (the ease of use of the system functionalities). Therefore in rolling out this new technology the bank along with their partner merchants would train staff so that they are familiar with the best practice guidelines when using Chip and PIN. Service Quality-This refers to the back-end support systems that assist in usage of the technology. How reliable are Republic Banks servers and IP networks? User Satisfaction- This encompasses measuring the users entire experience-the purchase payment, receipt and service (the ease of purchasing without the fear of being a victim of fraudulent activity). Net Benefits -This is the most important success measure and it encapsulates the cost savings and the decrease in the value of fraudulent transactions arising from stolen credit card data. Was the implementation of this technology beneficial in reducing the incidents of card fraud? Are Republic Bank cardholders satisfied that their bank is on par with global industry changes? The focus of this success model lies in determining the impact the features of technology (information, system, and service quality) have on the variables user satisfaction, use, and net benefits. The main objective for using this ISS model is to establish the ultimate benefits derived from the use of information system both in individual and organizational terms. FINDINGS This chapter will illustrate the findings from the questionnaires submitted to a sample of the Republic Banks credit card customers as well as a formal interview conducted with an employee of Republic Bank Credit Card Centre. The aim of the chapter is to source an awareness of the topic area Chip and PIN by cardholders and the personnel interviewed. Primary Data Collection For the basis of the findings of this research the author conducted a formal interview with a middle management employee at Republic Bank and also distributed questionnaires to a sample of the banks credit card customers. A summarized version of the responses from the interview is represented in this chapter, based on the interviewees knowledge. The questionnaires distributed were mostly closed questions so as to deliberately avoid open-ended respondent answers. Approximately 120 questionnaires were distributed to Republic Bank Customers. Only the answers to the key questions are represented in this chapter. Summarized responses from the interview This interview was conducted with the Supervisor, Card Services, which prove to be very insightful. The Supervisor spoke about the banks vision for their credit card market, and how they plan to continuously innovate so as to maintain their customer base and attract new profitable customers. Since the credit card industry is a highly competitive one, the bank is constantly reviewing their interest rates and looking for new ways to give customer returns from the use of their credit card. Due to his long tenure at the bank and having the customer service background, the supervisor was able to give insight on what infuriates a credit card customer. He explained that customers become frustrated when they see added charges and puffed up late fees placed by the bank on their card statements. In view of the fact that most customers do not read the fine print when completing a credit card application, they are not totally aware of all the charges that can arise from delinquent payments. He f urther added that although queries like this can be explained by representatives at the bank who can provide valued solutions to the cardholders problem, the most infuriating of all queries from customers are unexplainable purchases on their account. At Republic Bank, fraudulent activity on a card can be detected from the use of their state-of-the-art security systems and their experienced fraud expert team that are in place to monitor and detect any unusual activity on a customers credit cards, but even with these measures in place, fraud can occur. The supervisor expressed that by implementing Chip and PIN technology for credit cards, the bank was able to be a step ahead of the competition and most importantly the card criminals. He also stated that although credit card fraud is not as prevalent in Trinidad and Tobago as in the developed countries, continuous education in counteracting fraudulent activities for their customer base is an effective method of addressing credit card fraud. He explained that Republic Bank has not had many eye-opening occurrences of notified credit card fraud but they believe that Chip and PIN technology is an innovative solution to the likelihood of this problem. He was also truthful in expressing that this technology is still new to the industry and all merchants have yet to convert to Chip and PIN enabled machines, therefore there is a window of opportunity for fraud until merchants are mandated to have these Chip and PIN enabled machines. He used the term mandate, because eventually all Republic Bank debit cards would also be chip enabled. In summing up the interview the author probed the supervisor on the banks position on the studies done by the University of Cambridge team on Chip and PIN technology and the tested flaws of the system. His response was quite interesting, because it ventured into a thought-provoking discussion on research. He lamented that the sphere of research done on any topic would result in the researcher seeking out the positive and negative aspects of it. How the data is interpreted, reflects the real value of the research done. Questionnaire Findings Question 5: How often and where do you frequently use your credit card to make purchases? Aim: To assess how often the average Republic Bank cardholder uses their credit card. Findings: Most Republic Cardholders in this study used their credit card regularly, at least five times per month. Credit Cards are used for purchases at the supermarket, restaurant and retail clothing stores. Question 6: Has your credit card information ever been compromised? If yes provide details. Aim: To determine the number of incidents of attack on Republic Bank credit card holders. Findings: Less than 50% of the respondents have never had their credit card data compromised. Question 7: Do you understand the workings of Chip and PIN technology introduced to Republic Bank credit cardholders and the value to be derived from using this technology? Aim: To determine the extent of the customers perception of this technologys value and how the card is used. Findings: Although some customers are guarded about the use of their credit cards, most of the respondents are confident in the service that Republic Bank provides and believes that implementing Chip and PIN gives them that added security against fraudulent activities, especially those customers that frequently travel abroad. Question 8: How do you think by using Chip and PIN cards for making payments will make it easier in transacting? Aim: To establish the efficiencies in the use of Chip and PIN cards, on the time taken to complete a transaction. Findings: Many customers applaud this technology as it reduces the time taken at the cash register when making purchases. It is simple, easy and convenient and most customers are truly happy as there is no need to write their signature. For this reason they find the system most efficient as it prevents their signature from the likelihood of being forged. ANALYSIS The main objective for the research completed on this topic, was to show how and to what extent the adoption of Chip and PIN technology has improved credit card security for Republic Bank cardholders. At a glance, before Chip and PIN technology was introduced in the UK, there was nation-wide educational literature on the benefits of the technology for banks, merchants and most importantly, the customers. However, it seems that this programme led by EMV, created more enthusiasm in the build-up to its implementation rather than the actual usage of the system. From the research, the mounting negative features of the technology and use of the system is outweighed the decreasing positive ones. It seems that the card theft criminals were focused on a solution to obstruct the successful use of the technology before the intention to use. The question remains, which facet of credit card fraud has Chip and PIN really reduced? The research show that for point of sale transactions Chip and PIN has been useful in the prevention of skimming ones card information, however the fraudsters have found alternative ways to improve on that tactic. Chip and PIN technology can only be used à ¢Ã¢â€š ¬Ã…“successfullyà ¢Ã¢â€š ¬? for point of sale transactions and not online transactions, so fraudsters have modified their techniques as with the modifications of the technology. Based on the research framework adopted, Republic Bank has measured their net benefits of adopting the Chip and PIN technology by encircling the information, service and system qualities to deliver user satisfaction and usage of the system with this technology. The success of any information system is multi-dimensional and the relationships among the constructs relate to the comprehensive evaluation of the system. The variable dependent on these constructs are the net benefits of this system, and for whom? This local company has app

The Color Purple Essay -- essays research papers

The Color Purple by Alice Walker is a very controversial novel, which many people found to be very offensive. It is basically the struggle for one woman’s independence. The main character in The Color Purple is Celie a coloured woman with little or no education at all. She is one who has been used and abused by all the men in her life, and because of these men, she has very little courage or ambition in her life. She has so little courage, that all she wants to do is just survive. Through the various women she meets throughout here life like: Shug, her sister, and Harpo’s wife, she learns how to enjoy herself, gain courage and happiness. She finally learns enough and with the final straw she could no longer bare, she leaves her husband and becomes an independent happy woman. Celie was an abused woman from all the men in her life. She was abused and raped by her stepfather and then by her own husband. This abusiveness took away all of Celie’s ambitions and drove her into a state of fear. That is why she refers to these men only known as Mister, for she had lost her feelings. She feared them so much that she would always do whatever she was told without hesitation, because she was fearful of being beaten. The first evidence comes from the opening line of the novel, You better not never tell nobody but God†¦ (P.11). That is why all her letters open with Dear God, because she fears what will happen to her if she does tell anyone. And it is because of these men, that she has ver...

Motivation in complex and multilevel learning environments

The development of human behaviour and acquisition is expected to be self-dependent and alone to the person. However, it is become impossible to disassociate this single acquisition procedure from the effects of the societal context, in which this acquisition takes topographic point or decimate the consequence of the instructor as the chief facilitator of this cognition building procedure. That the scholar will be successful in his modulating his enterprise is assumed and dependent on these immediate factors being able to stay changeless and supportive. Deci & A ; Ryan, while suggesting the theory of internalisation, argue that the more internally valued and regulated a behaviour is, the more it is expected as independent ( as cited, in Stefanou, Perencevich, DiCintio & A ; Turner, 2004 ) . The three human demands of competency, relatedness and liberty are identified as the critical facets of motive and hence optimum acquisition. This is echoed by Connell & A ; Wellborn and Skinner & A ; Belmont in showing their motive theoretical account as the degree of battle and a by-product of the above homo needs ( as cited in Veermans, 2010 ) . This battle is highly of import and its absence may be equated to miss of the largest individual ingredient to acquisition. This essay will give a reappraisal of some of the facets of regulation and prolonging acquisition and motive in larning environments. Learning procedure is a critical portion of human development and it is an activity to commence at quite an early age. The cognition acquired is indispensable and indispensable for pilotage through the societal environment. This cognition besides acts a footing for farther hereafter larning. Research has shown that, the kid ‘s head is non ‘tabula rasa ‘ and it is able to develop and heighten cognitive procedures that encompass linguistic communication, figure, facial acknowledgment and the immediate environment in which the kid finds itself ( Veermans, 2010 ) . The human memory plants in apparently simple, yet complex manner. The short term and long term memory exhibit how the human being understands stimuli and is able to enter them for future mention. The both finite and infinite functions of memory have a critical map and consequence at all phases of human development and acquisition. ( Veermans, 2010 ) Learning is a procedure that spans several degrees: what the instructor knows, the direction methods, the scholar reading and the scholars ‘ cognition scheme ( Veermans, 2010 ) . The effectual transportation of cognition from one degree to another is dependent on the systematic organisation of the content, the context and the care of good degree of involvement particularly on the portion of the scholars. The degree of larning results is dependent on the assorted degrees competencies of the portion of scholars. In consequence, similar stimulations can ensue in a multiplicity of reading and significance. The facet of liberty, as manifested in organisational, procedural and cognitive has serious deductions to the manner scholars of all degrees have partake in the acquisition procedure. This is chiefly because, larning is an independent procedure and scholars have to be self-determined, and possess the psychological demands of liberty, competency and relationship fulfilled in societal contexts ( Stefanou et al, 2004 ) The environment in which our scholars find themselves in at nowadays is characterized by a figure of challenges, many of which these scholars have no direct control over. Presence of motive, or its deficiency thereof, is an issue that scholars at all degrees have to cope with. Second, the larning context and environment is an of import factor in the success or failure in the success of the accomplishment of the acquisition aims. The environment can either support scholars in their pursuit of geting cognition, or it has a possibility of decimating their thrust to larn. Third, the instructors, the learning methodological analysis and pick of content are another set of factors that would necessitate to be addressed in order to advance a successful deep acquisition on the portion of the scholars.MotivationThe challenge for the current acquisition environments and the instructors is how to be receptive of their scholars ‘ varied motive degrees. Learners come into the schoolroom cont exts with different degrees of involvements and personal features. It is upon the instructors to hold a good apprehension of the single scholar and assist him/her to set to the schoolroom context and come to footings with the larning group. Since the acquisition group is non homogeneous in footings of their motive degrees, there is a possibility that some scholars will hold small or no involvement. On the other side of the continuum, there will be the group of scholars who will be excessively eager to larn. As a instructor, how do I promote more involvement to larn in these low motivated scholars? The presentation of the teaching-learning aims should be so merely clarified to them, so that the scholars find a relationship to the content at manus. In other words, there should be seen a relationship between the current learning stuff and the scholars ‘ stock of cognition ( entry behaviour ) and the future terminal calling ends. The current acquisition will be seen as a nexus and stepping-stone to the greater highs. Once the scholars set up a connexion, it becomes easier to use their problem-solving accomplishments to undertake the learning stuff. Equally, for those scholars who have adequate motive, the instructor has to assist make an environment that helps to modulate and prolong this motive till the terminal of the acquisition procedure. This is because, even great, extraordinary motive can be vulnerable to disappointment and disillusionment one time scholars fail to see the connexion between their yesteryear, nowadays and the hereafter larning enterprises.The Learning environmentThe acquisition environment is the basic substructure in which the whole acquisition procedure plays itself out. Therefore, this environment should be tailored to suit, support and sustain worthwhile relevant acquisition Sessionss. How can be tailored? Who is responsible for this structuring? It is fact larning starts off at an early age. In add-on, larning takes in many societal contexts, be it at school, place and other societal spheres. Lepola, Salonen, Varaus & A ; Poskiparta ( 2004 ) point out that grownups, parents and instructors have a alone duty of supplying an emotionally and intellectually stimulating context for kids, in fiting the scaffolding to learner ‘s competences and maximising the kids ‘s development. Apart from the place and society as a whole, the schoolroom remains the primary context in which larning through motive takes topographic point, with the purpose of geting and warranting thoughts, building significance and intentionally making independent critical thought ( Stefanou et al. , 2004 ) . It will be of import that this learning environment provides the right tools ( stuffs, undertakings, schemes ) and the conducive ambiance for the scholar to experience free to experiment and seek out assorted picks and possibilities. In add-on, the larning context should besides supply a distinct connexion between pupil motive, instructional patterns and larning results ( Stefanou et al. , 2004 ) . The proviso of such an environment is exciting to a well-motivated acquisition head and freedom to seek out fresh and originative options greatly helps in the acquisition procedure. Well-tailored, the environment is able to prolong higher acquisition and resolution of complex undertaking becomes such an tickle pinking experience to these motivated and good provided scholars thereof. Here, a inquiry arises. How does the scholars adapt, from differentiated socio-economic backgrounds, to an intellectually balanced schoolroom context?The Teaching Style and Communication StructuresThe instruction manner and the communicating constructions are critical to making this balance and advancing a fulfilling, worthwhile, womb-to-tomb acquisition. As cardinal participants in a acquisition procedure, there should be a strong communicating channel between the instructors and the scholars. Teachers should take the taking function in orchestrating this duologue, by understanding the scholars ‘ demands, respond to scholars ‘ inquiries and supply their ain position and feedback to the scholars. Perry & A ; VandeKamp ( 2000 ) stress the importance of feedback. This basically gives scholars an chance and willingness to rectify their errors and be able to place effectual acquisition schemes for covering with larning troubles and bring forthing meaningful results. On the other manus, a free and democratic leading manner has a strong consequence in rising scholars ‘ motive, engagement and completion of the acquisition undertakings ( Stefanou et al. , 2004 ) . Learners should be made to experience that they are in control of their acquisition experiences, and they are free to show their feelings, thoughts and inquiries. This freedom of pick will widen to the solutions that the scholars will research. Once these scholars feel they are recognized, and are free to take part, contribute and explore, this creates a good relationship to the nucleus of the acquisition procedure and are more motivated to larn. Therefore, the instructors will hold to use a myriad of instructional schemes in order to prolong the scholars ‘ response and heighten the scholars ‘ continual engagement in the acquisition procedure. From the above, we can reason that the schoolrooms contexts can either facilitate or thwart the scholars ‘ drift in the cognition acquisition procedure. Authoritarian leading, coupled with menaces, rigorous deadlines and other signifiers of rating and surveillance restrict and impede the scholars ‘ engagement and cognitive development. ( Stefanou et al. , 2004 ) . Teachers has multifaceted function of learning, rating and implementing the direction of the schoolroom. In many cases, instructors have the function of implementing assorted signifiers of liberties. Stefanou et Al. ( 2004 ) place the three signifiers of liberty that these teachers are expected to set into topographic point. These are organisational, procedural and cognitive. From the research, Stefanou et Al. ( 2004 ) individual out cognitive liberty as the most of import signifier of liberty that should be emphasized in order to maximise the larning potency of the scholars. In consequence, the learning methods should reflect a batch of cognitive liberty, whereby instructors are deputing more infinite and chance for scholars to research their possible to undertake, and work out acquisition challenges with small direct aid from the instructors. It is through this manner that focal point on the ends of the undertaking will be maintained, by the scholars ‘ themselves. Stefanou et Al. ( 2004 ) give a word of cautiousness that the overemphasis on organisational or procedural liberty may take to cognitive overload and consequence in less critical thought. The overloading is seen in the inclusion of excessively many not-so-necessary processs and regulations, and there is a danger of these regulations assisting to deflect the end of larning. Since the primary function of acquisition is cognitive development, so the instructors should avail the scholar with more chances for critical thought through the justification of their acquisition picks and autonomous, independent formation of relevant significance. There is demand for larning environments that provide a distinct connexion between pupil motive, instructional patterns and larning results.Inequalities in EducationMany times, the inequalities in educational contexts are an outgrowth of the societal, cultural and economic inequalities that are apparent within the larger society. Therefore, societal cognitive constructions are constructed in interaction and human behaviour is greatly influenced by the context in which the person is situated ( Mehan, 1998 ) . Cases of teaching-learning patterns cabaling with society to propagate the differences, as seen in some trials, experiments and larning schemes, proceed to curtail, and repress the guiltless larning single into the same stereotyping and want of liberty to take cognitive chances. There is great demand of doing schoolroom contexts socio-culturally impersonal and compatible to all single scholars who pass through them. It is up to the learning organic structure to accommodate their learning methodological analysis in accomplishing a larning context that serves the involvements of all its scholars and that minimizes the effects of the entry behaviour differences of its scholars. The general and specific larning ends can be good achieved when there is a better apprehension of the relationship between societal construction, civilization and interaction and assisting to minimise the struggles that might originate thereof ( Mehan, 1998 ) . Going from the individualised acquisition and encompassing collaborative nature of acquisition, among the scholars and instructors, is one of the ways cognitive development can maximise. In this emerging scenario, critical thought, rational debate and the consensual procedure between experts ( instructors ) and novitiates ( scholars ) should be promoted ( Mehan, 1998 ) . In resonance with this position is ‘scaffolding ‘ , which stands out an indispensable manner of regulation and back uping acquisition and motive. The zone of proximal development involves the expert-teacher utilizing his/her regulatory accomplishments in identifying and finding the novice-learners ‘ demands and efficaciously seting the support to fit the scholars ‘ competences ( Lepola, Salonen, Varaus & A ; Poskiparta, 2004 ) .

Author Technique on ACT English Passage Strategy

Author Technique on ACT English Passage Strategy SAT / ACT Prep Online Guides and Tips Author technique is a specific type of reading comprehension question that appears frequently on the ACT English section. Author technique questions require you to analyze a specific sentence and determine if it fulfills an author's stated purpose. Read this article for a thorough explanation of author technique and guidance on how to figure out author technique questions. In this post, I'll do the following: Define author technique questions. Provide examples from real ACTs. Offer detailed strategies for correctly answering these questions. What Is Author Technique on ACT English? Author technique questions ask you to determine if a sentence or phrase fulfills the author's stated purpose. Each author technique question is constructed in the same way. Knowing the basic construction of author technique questions will allow you to easily identify them and use the same efficient process for correctly answering them. General Construction of Author Technique Questions Author technique questions are phrased in this way: Which one would best fulfill (some stated purpose)? A portion of a sentence will be underlined, and you have to determine if the given phrase or the other answer choices will best fulfill the purpose given in the question. This type of question requires you to analyze phrases and determine whether they would satisfy the stated goal. Now, let's look at examples of author technique questions from actual ACTs. Real Examples of Author Technique Questions Here are examples of author technique questions from the ACT English section. Example #1 By nightfall a controlled inferno roars in the kiln. The writer would like to indicate that at this point thefire is extremely intense. Given that all the choices aretrue, which one best accomplishes the writer’s goal? F. NO CHANGE G. the fire is stronger than everH. there is more heat being producedJ. a kind of intense blaze takes place Example #2 As the potter takes bricks away to create an opening into the oven, an expanding view of gleaming shapes rewards the artist for months of hard work. The writer would like to suggest the potter’s cautiouspace and sense of anticipation in opening the kiln. Given that all the choices are true, which one bestaccomplishes the writer’s goal? F. NO CHANGEG. removes bricks by handH. removes one brick at a timeJ. experiences great anticipation and removes bricks Example #3 Dickinson stayed in contact with correspondents for many years. Given that all of the choices are true, which one bestdevelops the paragraph’s focus on the roles that lettersplayed in Emily Dickinson’s life? A. NO CHANGE B. Her personal interests also included keen observationof the natural world around her. C. Though she produced volumes of letters, none were shared publicly until after her death. D. She enjoyed hearing their news and reflecting with them on political events. Now, let's go through the process to correctly answer these questions. Follow these steps! Strategy for Author Technique Questions #1: Determine What the Question is Asking Here's our first example question again. Example #1 By nightfall a controlled inferno roars in the kiln. The writer would like to indicate that at this point thefire is extremely intense. Given that all the choices aretrue, which one best accomplishes the writer’s goal? F. NO CHANGE G. the fire is stronger than everH. there is more heat being producedJ. a kind of intense blaze takes place The question is asking which answer choice does the best job of indicating that the fire is extremely intense. The correct answer choice will make it obvious to the readerthat the fire is extremely intense. #2: Check the Answer Choices to See if They Acomplish the Intended Goal For our example, go through each answer choice and determine if it indicates that the fire is extremely intense. The answer choice has to match the goal as closely as possible. The fire can’t be somewhat intense. We’re looking for extremely intense. First, look at the original sentence. Does â€Å"a controlled inferno roars† accomplish the goal of showing that the fire is extremely intense? Yes. An inferno is a large, intense fire. And the verb â€Å"roars† further indicates that the fire is extremely intense. However, go through the rest of the answer choices quickly just to make sure there isn’t a better answer. Answer choice G, â€Å"the fire is stronger than ever,† indicates that the fire is more intense than before, but it doesn’t directly state that the fire is extremely intense. Answer choice H, â€Å"there is more heat being produced,† does not even reference the intensity of the fire. Answer choice J, â€Å"a kind of intense blaze takes place,† is the trap answer. It has the word â€Å"intense† in the phrase, but we’re looking for a phrase that shows that the fire is extremely intense. A â€Å"kind of intense† fire is not extremely intense. #3: Eliminate Wrong Answer Choices Usually, it’s easier to eliminate the obviously wrong answer choices first before eventually arriving at the right answer. For our example, H could be eliminated right away since there isn't even a reference to the fire. Then, after looking more closely at the other answer choices, you should be able to eliminate G and J. #4: Consider the Tone and Conciseness of the Answer Choices Not only should the answer choice fulfill the purpose of the author, but the resulting sentence should be grammatically correct and match the essay’s tone. Typically, sentences in ACT English are moderately formal. They’re not extremely formal or very casual. Also, the ACT stresses that sentences should be as concise as possible. For our example, we didn’t really need to consider tone and conciseness, but if you were considering answer choice F, â€Å"a kind of intense blaze takes place†, itsconstructionmakes the phrase sound awkward and wordy. You could convey the same meaning more succinctly. #5: Select the Correct Answer In our example, we are left with answer choice F, NO CHANGE. Going through all of these steps should take roughly 15-30 seconds. We'll go through this process again with another question from a real ACT. Another Actual ACT English Example Try to figure out the answer to the following author technique question. At one point, Emily sent a draft of her poem â€Å"Safe in TheirAlabaster Chambers† to Susan, who read the poem. Given that all the choices are true, which one wouldmost clearly describe an interaction between Susan andEmily during Emily’s writing process? A. NO CHANGE B. liked the poem tremendously. C. considered and thought about the poem. D. praised the poem but suggested revisions. First, we determine what the question is asking. We need to choose a phrase that suggests interaction between Susan and Emily during Emily’s writing process. Therefore, if a phrase doesn’t show interaction between the two, it can be eliminated. The original phrase, â€Å"read the poem," doesn't show interaction. If Susan â€Å"liked the poem tremendously," that doesn't show interaction between them either, so we can eliminate B. If Susan â€Å"considered and thought about the poem," that doesn't demonstrate any interaction so answer choice C can be eliminated as well. However, if Susan â€Å"praised the poem but suggested revisions†, that does describe an interaction during the writing process. If she â€Å"suggested revisions,† Susan told Emily how to change the poem to make it better. That's an interaction during the writing process. The answer is D. Quick Review of General Strategies for Author Technique Questions #1: Determine What the Question Is Asking #2: Go Through the Answer Choices to See if the Phrase Fulfills the Stated Purpose #3: Eliminate Wrong Answer Choices #4: Consider the Conciseness, Tone, and Formality of Answer Choices, if Need Be. What's Next? If you haven't done so already, I strongly suggest that you check out these articles on the best way to approach ACT English passages and five critical concepts to ace ACT English. Both posts provide you with extremely helpful strategies that will allow you to maximize your ACT English score. For those of you looking to improve your ACT English grammar skills, you may want to read up on punctuation on the ACT. Want to improve your ACT score by 4 points? Check out our best-in-class online ACT prep program. We guarantee your money back if you don't improve your ACT score by 4 points or more. Our program is entirely online, and it customizes what you study to your strengths and weaknesses. If you liked this English lesson, you'll love our program.Along with more detailed lessons, you'll get thousands ofpractice problems organized by individual skills so you learn most effectively. We'll also give you a step-by-step program to follow so you'll never be confused about what to study next. Check out our 5-day free trial:

Example Sentences of the Verb Have for ESL

Example Sentences of the Verb Have for ESL This page provides example sentences of the verb Have in all tenses including active and passive forms, as well as conditional and modal forms. Base Form: havePast Simple: hadPast Participle: hadGerund: having Present Simple We often have guests over for dinner. Present Simple Passive Showers are often had in the morning. Present Continuous Peter is having breakfast at the moment. Present Continuous Passive Breakfast is being had in the dining room this morning. Present Perfect He has had a lot of luck! Present Perfect Passive Meals have been had in the dining room this month. Present Perfect Continuous We have been having problems for a while. Past Simple Alice had a shower before she left for work. Past Simple Passive Lunch was had on the balcony last Saturday. Past Continuous We were having lunch when she telephoned. Past Continuous Passive Lunch was being had when she telephoned. Past Perfect Oliver had already had lunch when I arrived. Past Perfect Passive Lunch had already been had when the guests arrived. Past Perfect Continuous Susan had been having a hard time when Peter decided to give her a helping hand. Future (will) You will have a good time! Future (will) passive A good time will be had by all! Future (going to) We are going to have a great time at the park. Future (going to) passive A great time is going to be had by all the guests. Future Continuous This time tomorrow we will be having lunch on the beach. Future Perfect She will have had her meeting by the time he arrives. Future Possibility She might have an appointment later today. Real Conditional If she has any problems, she will ask Jack for help. Unreal Conditional If she had any problems, she would ask Jack for help. Past Unreal Conditional If she had had any problems, she would have asked Jack for help. Present Modal You can ask the doctor for advice. Past Modal You must have had a wonderful time! Quiz: Conjugate With Have Use the verb to have to conjugate the following sentences. Quiz answers are below. In some cases, more than one answer may be correct. Meals _____in the dining room this month.We often _____ guests over for dinner.We _____ problems for a while.Oliver _____ already _____ lunch when I arrived.You _____ a good time!This time tomorrow we _____ lunch on the beach.If she _____ any problems, she would have asked Jack for help.Lunch _____ when she telephoned.Alice _____ a shower before she left for work.He _____ a lot of luck in his life. Quiz Answers have been hadhavehave been havinghad hadwill havewill be havinghad hadwas being hadhadhas had

Philosophical Analysis of Terrorism and Torture Essay

Philosophical Analysis of Terrorism and Torture - Essay Example Modern wars are by design, not in alignment with the Just War Doctrine. Justification to initiate and continue a war is dependent upon the propaganda that starts before a war, continues and evolves according to the circumstances during this heinous act and subsides long after the war is over. It is therefore safe to assert that the Just War Doctrine does not in any way provide the control required to limit the violence related to war; instead it functions to guide the powerful forces to seek suitable justifications regarding initiation of the war process; no matter how misaligned the justifications. War conventions fail to substantiate in cases where the powerful forces regard their opponents as being â€Å"less than humans†. US attack on Iraq for eradication of weapons of mass-destruction can be regarded as a recent example of this scenario. Despite inflicting immense damage to the target country, no such weapons were recovered; the justification of war was hence flawed. Judging torture in the light of ethical theories can bring forth variable outcomes. The proponents of torture present it as the only available means for revelation of information that is essential to provide protection to other humans. An example in this regard is the ‘ticking bomb’ scenario that is often presented to convince people about the importance of torture as a means of ensuring the safety of masses. Judging torture from the deontological perspective brings forth the fact that torture should be avoided at all costs (Gordon 62). Since the proponents of deontological approach are inclined towards highlighting the importance of ‘duty’ without regard to the ‘outcome’; this approach demands that the general approach of treating the suspects be in accordance to the ethical principles and hence torture should be avoided at all costs. This is in contradiction to other ethical approaches which take into account the

Debt and Equity Financing - Advantages and Disadvantages Research Paper

Debt and Equity Financing - Advantages and Disadvantages - Research Paper Example It is of great significance that the ratios must be benchmarked against a standard in order for them to possess a meaning. Keeping that into account, the comparison is usually conducted between companies portraying same business and financial risks, between industries and different time periods of the same company. The company under consideration is Marvel Toys, and in this report the analysis of the financial performance of the company over the last seven years has been conducted in order to draw attention to various financial trends and significant changes over the period. The analysis is divided into three main categories: namely Profitability, Liquidity and Gearing. Profitability ratios identify how efficiently and effectively a company is utilizing its resources and how successful it has been in generating a desired rate of return for its shareholders and investors. Liquidity ratios measure the ability of the company to quickly convert its asset into liquid cash to settle its sh ort term liabilities. Whereas, the Gearing ratios identifies the extent to which the company is financed through debt and to what degree the operations are being conducted from the finance raised through raising equity capital or otherwise2. Following ratios have been used in order to evaluate the financial outlook of the company: Current ratio Acid-test (quick) ratio Collection period Inventory turnover Debt to total asset ratio Times interest earned Return on assets Return on Equity Fixed Asset turnover Total Asset turnover Gross Profit margin Net Profit Margin The profitability ratios of the company appear to be stable, but the company is facing liquidity problem as apparent from the ratios. Also, the company has more than 50% of its assets financed through debt. But the company has great earning potential based on which it has been decided to sanction the long term loan facility to the company. Answer to part A Financial Analysis Profitability Ratios    2011 2010 2009    Pro fitability Ratios Gross profit margin 20.18% 19.23% 20.14% Net profit margin 6.88% 6.15% 7.50% ROE 11.68% 12.20% 35.71% ROA 4.50% 4.36% 7.03% Fixed Asset Turnover (times) 2.04 2.27 2.53 Total Asset Turnover (times) 1.27 1.35 1.57 Gross profit margin is an analyzing tool which assists in identifying how effectively and efficiently the company is utilizing its raw materials, variable cost related to labor and fixed costs, such as rent and depreciation of property plant and equipment3. The ratio is calculated by dividing the sales revenue by the gross profit. The gross profit margin of the company was quite stable in the financial year 2009, but moving forward in the financial year 2010, the ratio has seemed to decline a bit. The decline in the ratio was primarily due to the decrease in the net sales of the company by 9% which caused the gross profit margin to decrease by around 0.91%. But the ratio appeared to show an inclining trend again the financial year 2011 as the company was ab le to curtail and manage its cost of sales although the quantum of its sales