Emerging Issues in Financial Crime

Running head: EMERGING ISSUES IN FINANCIAL CRIME
Emerging Issues in Financial Crime
Name of the Student
Name of the University
Author Note

EMERGING ISSUES IN FINANCIAL CRIME1
Table of Contents
Introduction................................................................................................................................2
Case Description....................................................................................................................2
Case Analysis.........................................................................................................................5
An increase/decrease..........................................................................................................5
Legislative reform..............................................................................................................6
Change in character............................................................................................................6
Sequence of activities.........................................................................................................7
The repercussions of that financial crime/cyber security on business and the community
............................................................................................................................................7
Conclusion..................................................................................................................................8
References................................................................................................................................10

EMERGING ISSUES IN FINANCIAL CRIME2
Introduction
The way that cyber world is transforming has given various opportunity to the human
lives in shaping up the day to day activities. People spend most of their times on the internet
and utilise all the benefits that the cyber world has been providing to them. However, most of
them do not realize that the world of internet is plagued with the amount of ethical and
unethical hackers as well who could easily get into the cyber accounts of different people and
extract out all the information regarding the utilization of internet of every individual (Corbet
et al., 2019). This may even considered to be extracting out the particular aspects of financial
data transactional information about an individual. This is regarded to be the financial crime
established in cybersecurity world. There have been different kinds of trends and issues
identified for this problem as well and therefore this report is based on the case study of
Kevin Mitnick, who is identified as a hacker. His entire history behind hacking and his
evolution right from childhood to is latest activities in 2002 would be analyzed in order to
you understand what has been the trends and issues described in in financial cybercrimes
(Park et al., 2016). There would be a description of the case and analysis summarizing all the
study that has been formulated on the case study.
Case Description
The following is a description of a case that was based on the life of Kevin Mitnick
who was declared as a computer hacker. Mistake has been held by the United States
Department of Justice on different accounts going to his another is access to computer
network hand held responsible for various unauthorized access to different computers as well
(Akey, Lewellen & Liskovich, 2018). The case study defines how Mitnick had been
delivering his unauthorized access and his natural sense of having an unauthorized access has
been delivered through different incidents right from the age of 12. He used to bypass the Los

EMERGING ISSUES IN FINANCIAL CRIME3
Angeles bus service punch card system utilizing social engineering and dumpster diving.
With this, he convince the bus drivers into making him find a ticket punch system for his
school project that was totally made up.
He used to travel anywhere in Los Angeles with the forged ticket that he planned for
himself using transfer slips in the dumpster next to the company for that particular bus
services. It was identified that it was the same Social Engineering technology that has been
utilized by him ever since he has been identified as hacker. As days begin to pass, Mitnick
started to gain unauthorized access to computer networks. His first access was recognized in
1979 when he was only 16. He utilized the access to the Digital Equipment Corporation or
DEC for developing RSTS/E Operating System software and broke into the computer
network to copy their software. This was identified as a serious crime for which he was
convicted in the year 1988 (Weiss & Miller, 2015).
The 12-month sentence that Mitnick was serving in jail could not hold him down even
after there was a supervised release for him in the next 3 years. As soon as the supervised
release ended, Mitnick was again charge for hacking into the voicemail computers for Pacific
Bell. When there was an issue of the variant released for his capture, he fled and was marked
as a fugitive for the next two and half years. Even when he was a fugitive, he was reported to
be gaining unauthorized access to numerous numbers of computers as per the reports of the
United States department of justice (Lin, 2015). He had gained the ability of cloning cellular
phones in order to hide his own location and copy variable software properties gathered from
the cell phone organizations of the largest companies also delivering cellular services in
computer systems. He was also able to intercept in steal all the passwords of a computer and
also became the largest online attack because he has the power to break into the computer
systems and also gain access to the private emails (Alexander, 2018).