Cyber Crime: Strategies and Types

Cyber Crime: Strategies and Types Cyber Crime: Identity Theft A. Introduction In this era of globalization, one of many things that can distinguish a developed country to a developing country is its progress of science and technology. This is because along with the development of a countrys science and technology, will also developed the countrys ability to enrich their own potential. Great advances in science and technology in developed country are due to their well-established information system. Meanwhile, in the developing country, the information system is still minimal, which make the development of science and technology become blocked. Thus, whether a country will become a developed country or not, is highly depend on their mastery of information system. In times like these, the mastery of the information system will not enough by merely mastering. We need to conquer the speed and accuracy too, because there is almost no point in mastering outdated information. Moreover, the very rapid progress of information makes the age of the information shorted. In other words, substitution of old and new information becomes faster. Old information will be ignored because of the more recent information. But, the development of science and technology, in which also means the development of information system, does not always have good effects. It has bad effects too. One of them is the increased rate of the computer crime. B. Computer Crime Computer crime issues have become high-profile, particularly those surrounding hacking, copyright infringement through warez, child pornography, and child grooming. There are also problems of privacy when confidential information is lost or intercepted, lawfully or otherwise. A computer crime is any illegal action where the data on a computer is accesed without permission. This access does not have to result in loss of data or even data modifications. Computer crime is often attributed to rogue hackers and crackers, but increasingly organized crime groups have realized the relative ease of stealing data with low-level of risk. There are three major classes of criminal activity with computer: 1. Unauthorized use of a computer, which might involve stealing a username and password, or might involve accessing the victims computer via the Internet through a backdoor operated by a Trojanhorse program. Unauthorized use of computers tends generally takes the following forms: Computer voyeur. The attackers read or copy confidential or propietary information, but the data is neither deleted nor changed. Changing data. Example, changing a grade on a school transcript. Unauthorized changing of data is generally a fraudulent act. Deleting data. Deleting entire files could be an act of vandalism or sabotage. Denying service to authorized users. 2. Creating or releasing a malicious computer program (e.g., computer virus, worm, Trojanhorse). Malicious computer program are divided into these following classes: 1) A virus is a program that infects an executable file. After infection, the executable file functions in a different way than before: maybe only displaying a benign message on the monitor, maybe deleting some or all files on the users hard drive, or maybe altering data files. There are two key features of a computer virus: The ability to propagate by attaching itself to executable files (e.g., application programs, operating system, macros, scripts, bootsector of a hard disk or floppy disk, etc.) Running the executable file may make new copies of the virus. The virus causes harm only after it has infected an executable file and the executable file is run. 2) A worm is a program that copies itself. The distinction between a virus and a worm, is that a virus never copies itself, a virus is copied only when the infected executable file is run. In the pure, original form, a worm neither deleted nor changed files on the victims computer, the worm simply made multiple copies of itself and sent those copies from the victims computer, thus clogging disk drives and the Internet with multiple copies of the worm. Releasing such a worm into the Internet will slow the legitimate traffic on the Internet, as continuously increasing amounts of traffic are mere copies of the worm. 3) A Trojan Horse is a deceptively labeled program that contains at least one function that is unknown to the user and that harms the user. A Trojan Horse does not replicate, which distinguishes it from viruses and worms. Some of the more serious Trojan horses allow a hacker to remotely control the victims computer, perhaps to collect passwords and creditcard numbers and send them to the hacker, or perhaps to launch denial of service attacks on websites. Some Trojan Horses are installed on a victims computer by an intruder, without any knowledge of the victim. Other Trojan Horses are downloaded (perhaps in an attachment in e-mail) and installed by the user, who intends to acquire a benefit that is quite different from the undisclosed true purpose of the Trojan Horse. 4) A logic bomb is a program that detonates when some event occurs. The detonated program might stop working, crash the computer, release a virus, delete data files, or any of many other harmful possibilities. Atimebomb is a type of logicbomb, in which the program detonates when the computers clock reaches some target date. 5) A hoax is a warning about a nonexistent malicious program. 3. Crimes facilitated by computer networks or devices, the primary target of which is independent of the computer network or device (cyber crime) Examples of crimes that merely use computer networks or devices would include : Cyber stalking Fraud and identity theft Phishings scams Information warfare The third type of Computer Crime has become the most famous right now, because it produce more benefits than the other two. C. Cyber Crime The Internet is a new frontier. Just like the Wild, Wild West, the Internet frontier is wide open to both exploitation and exploration. There are no sheriffs on the Information Superhighway. No one is there to protect you or to to lock-up virtual desperados and bandits.This lack of supervision and enforcement leaves users to watch out for themselves and for each other.A loose standard called netiquette has developed but it is still very different from the standards found in real life.Unfortunately, cyberspace remains wide open to faceless, nameless con artists that can carry out all sorts of mischief. And that is why the cyber crimes can be as they are right now. Cyber Crime is a criminal activity done using a computers and the internet. This includes anything from downloading illegal music files to stealing millions of dollars from online bank accounts. Cyber crime also includes non-monetary offenses, such as creating and distributing viruses on other computers or posting confidential business information on the internet. Cases of cyber crime, 1970 2005: 1970 1990 1. John Draper discovers the give-away whistle in Capn Crunch cereal boxes reproduces a 2600Hz tone. Draper builds a ‘blue box that, when used with the whistle and sounded into a phone receiver, allows phreaks to make free calls 2. Robert T. Morris, Jr., graduate student at Cornell University and son of a chief scientist at the NSA, launches a self-replicating worm (the Morris Worm) on the governments ARPAnet (precursor to the Internet). The worm gets out of hand and spreads to over 6000 networked computers, clogging government and university systems. Morris is dismissed from Cornell, sentenced to three years probation, and fined $10K. 3. After a prolonged sting investigation, Secret Service agents swoop down on organizers and members of BBSs in 14 US cities, including the Legion of Doom. The arrests are aimed at cracking down on credit-card theft and telephone and wire fraud.(1990) 1991 2000 1. Five members of the Aum Shinri Kyo cults Ministry of Intelligence break into Mitsubishi Heavy Industrys mainframe and steal Megabytes of sensitive data. (1994) 2. Hackers adapt to emergence of the World Wide Web, moving all their how-to information and hacking programs from the old BBSs to new hacker Web sites.(1994) 3. Russian crackers steal $10 million from Citibank. Vladimir Levin, the ringleader, uses his work laptop after hours to transfer the funds to accounts in Finland and Israel. He is tried in the US and sentenced to 3 years in prison. All but $400K of the money is recovered. (1995) 4. The French Defense Ministry admits Hackers succeeded in stealing acoustic codes for aircraft carriers and submarines. (1995) 5. FBI establishes fake security start-up company in Seattle and lures two Russian citizens to U.S. soil on the pretense of offering them jobs, then arrests them. The Russians are accused of stealing credit card information, attempting to extort money from victims, and defrauding PayPal by using stolen credit cards to generate cash. (2000) 2001 2005 1. Microsoft become victim of a new type of attack against domain name servers, corrupting the DNS paths taking users to Microsofts Web sites. This is a Denial of Service (DoS) attack. The hack is detected within hours, but prevents millions of users from reaching Microsoft Web pages for two days. (2001) 2. The Klez.H worm becomes the biggest malware outbreak in terms of machines infected, but causes little monetary damage. (2002) 3. Two men hack into wireless network at Lowes store in Michigan and steal credit card information. (2003) 4. Brian Salcedo sentenced to 9 years for hacking into Lowes home improvement stores and attempting to steal customer credit card information. Prosecutors said three men tapped into the wireless network of a Lowes store and used that connection to enter the chains central computer system in NC, installing a program to capture credit card information. (2004) 5. Secret Service seizes control of the Shadowcrew Web site and arrests 28 people in 8 states and 6 countries. They are charged with conspiracy to defraud the US. Nicolas Jacobsen, is charged with hacking into a T-Mobile computer system, exposing documents the Secret Service had e-mailed to an agent. (2004) Australian Institute of Criminology, 9 types of cycber crime: 1. Theft of telecommunication service The phone phreakers of three decades ago set a precedent for what has become a major criminal industry. By gaining access to an organisations telephone switchboard (PBX) individuals or criminal organisations can obtain access to dial-in/dial-out circuits and then make their own calls or sell call time to third parties. Offenders may gain access to the switchboard by impersonating a technician, by fraudulently obtaining an employees access code, or by using software available on the internet. Some sophisticated offenders loop between PBX systems to evade detection. Additional forms of service theft include capturing calling card details and on-selling calls charged to the calling card account, and counterfeiting or illicit reprogramming of stored value telephone cards. 2. Communication in furtherance of criminal conspiracies There is evidence of telecommunications equipment being used to facilitate organised drug trafficking, gambling, prostitution, money laundering, child pornography and trade in weapons (in those jurisdictions where such activities are illegal). The use of encryption technology may place criminal communications beyond the reach of law enforcement. 3. Telecommunications privacy Digital technology permits perfect reproduction and easy dissemination of print, graphics, sound, and multimedia combinations. The temptation to reproduce copyrighted material for personal use, for sale at a lower price, or indeed, for free distribution, has proven irresistable to many. 4. Dissemination of offensive materials Content considered by some to be objectionable exists in abundance in cyberspace. This includes, among much else, sexually explicit materials, racist propaganda, and instructions for the fabrication of incendiary and explosive devices. Telecommunications systems can also be used for harassing, threatening or intrusive communications, from the traditional obscene telephone call to its contemporary manifestation in cyber-stalking, in which persistent messages are sent to an unwilling recipient. 5. Electronic money laundering and tax evasion With the emergence and proliferation of various technologies of electronic commerce, one can easily envisage how traditional countermeasures against money laundering and tax evasion may soon be of limited value. I may soon be able to sell you a quantity of heroin, in return for an untraceable transfer of stored value to my smart-card, which I then download anonymously to my account in a financial institution situated in an overseas jurisdiction which protects the privacy of banking clients. I can discreetly draw upon these funds as and when I may require, downloading them back to my stored value card (Wahlert 1996). 6. Electronic vandalism, terrorism and extortion As never before, western industrial society is dependent upon complex data processing and telecommunications systems. Damage to, or interference with, any of these systems can lead to catastrophic consequences. Whether motivated by curiosity or vindictiveness electronic intruders cause inconvenience at best, and have the potential for inflicting massive harm (Hundley and Anderson 1995, Schwartau 1994). While this potential has yet to be realised, a number of individuals and protest groups have hacked the official web pages of various governmental and commercial organisations (Rathmell 1997). http://www.2600.com/hacked_pages/ (visited 4 January 2000). This may also operate in reverse: early in 1999 an organised hacking incident was apparently directed at a server which hosted the Internet domain for East Timor, which at the time was seeking its independence from Indonesia (Creed 1999). 7. Sales and investment fraud As electronic commerce becomes more prevalent, the application of digital technology to fraudulent endeavours will be that much greater. The use of the telephone for fraudulent sales pitches, deceptive charitable solicitations, or bogus investment overtures is increasingly common. Cyberspace now abounds with a wide variety of investment opportunities, from traditional securities such as stocks and bonds, to more exotic opportunities such as coconut farming, the sale and leaseback of automatic teller machines, and worldwide telephone lotteries (Cella and Stark 1997 837-844). Indeed, the digital age has been accompanied by unprecedented opportunities for misinformation. Fraudsters now enjoy direct access to millions of prospective victims around the world, instantaneously and at minimal cost. 8. Illegal Interception of telecommunications Developments in telecommunications provide new opportunities for electronic eavesdropping. From activities as time-honoured as surveillance of an unfaithful spouse, to the newest forms of political and industrial espionage, telecommunications interception has increasing applications. Here again, technological developments create new vulnerabilities. The electromagnetic signals emitted by a computer may themselves be intercepted. Cables may act as broadcast antennas. Existing law does not prevent the remote monitoring of computer radiation. It has been reported that the notorious American hacker Kevin Poulsen was able to gain access to law enforcement and national security wiretap data prior to his arrest in 1991 (Littman 1997). In 1995, hackers employed by a criminal organisation attacked the communications system of the Amsterdam Police. The hackers succeeded in gaining police operational intelligence, and in disrupting police communications 9. Electronic funds transfer fraud Electronic funds transfer systems have begun to proliferate, and so has the risk that such transactions may be intercepted and diverted. Valid credit card numbers can be intercepted electronically, as well as physically; the digital information stored on a card can be counterfeited. Right now electronic funds transfer fraud is the most famous type of cyber crime. Every year the rate of case about electronic funds transfer fraud always increasing especially in credit card information stealing. From www.spamlaws.com they wrote about credit card stealing in 2005,†Credit card fraud statistics show that about $2.8 million was lost due to credit card fraud, from fraudulent use of MasterCard and Visa alone. In total, credit card fraud costs cardholders and credit card issuers as much as $500 million a year.† Identity Theft Identity theft is really identity fraud. This criminal uses someone elses identity for their own illegal purposes.Examples include fraudulently obtaining credit, stealing money from the victims bank accounts, using the victims credit card number, establishing accounts with utility companies, renting an apartment, or even filing bankruptcy using the victims name. The cyberimpersonator can steal unlimited funds in the victims name without the victim even knowing about it for months, or even years. Anyone who relies heavily on credit cards, Social Security Numbers or network blogging is more susceptible to credit identity theft. Many of our modern conveniences also come with a risk and less protection. The digital age is the perfect age for the Cyber criminal to commit it. Think of the internet as a dark alley in the middle of the night. And these cyber criminals are those people hiding there waiting for the victims to make a mistake. Credit identity theft is a very damaging crime because it not only damages the person financially but also damages the persons reputation as well. Imagine someone borrowing money using your name and never telling you. You will both bear with the burden of paying back the money he borrowed and suffer the humiliation of having this blunder under your name. Identity theft has been referred to by some as the crime of the new millennium. It can be accomplished anonymously, easily, with a variety of means, and the impact upon the victim can be devastating. Identity theft is simply the theft of identity information such as a name, date of birth, Social Security number (SSN), or a credit card number. The mundane activities of a typical consumer during the course of a regular day may provide tremendous opportunities for an identity thief: purchasing gasoline, meals, clothes, or tickets to an athletic event; renting a car, a video, or home-improvement tools; purchasing gifts or trading stock on-line; receiving mail; or taking out the garbage or recycling. Any activity in which identity information is shared or made available to others creates an opportunity for identity theft. It is estimated that identity theft has become the fastest-growing financial crime in America and perhaps the fastest-growing crime of any kind in our society. The illegal use of identity information has increased exponentially in recent years. In fiscal year 1999 alone, the Social Security Administration (SSA) Office of Inspector General (OIG) Fraud Hotline received approximately 62,000 allegations involving SSN misuse. The widespread use of SSNs as identifiers has reduced their security and increased the likelihood that they will be the object of identity theft. The expansion and popularity of the Internet to effect commercial transactions has increased the opportunities to commit crimes involving identity theft. The expansion and popularity of the Internet to post official information for the benefit of citizens and customers has also increased opportunities to obtain SSNs for illegal purposes. Victims of identity theft often do not realize they have become victims until they attempt to obtain financing on a home or a vehicle. Only then, when the lender tells them that their credit history makes them ineligible for a loan, do they realize something is terribly wrong. When they review their credit report, they first become aware of credit cards for which they have never applied, bills long overdue, unfamiliar billing addresses, and inquiries from unfamiliar creditors. Even if they are able to identify the culprit, it may take months or years, tremendous emotional anguish, many lost financial opportunities, and large legal fees, to clear up their credit history. Identity theft occurs in many ways, ranging from careless sharing of personal information, to intentional theft of purses, wallets, mail, or digital information. There are some reasons why the attacker can steal the credit card information: 1. Unsecured network Example: 1. Poisoning Poisoning technique is quiet complicated. First, the attackers need to connect to the same network with the target. After that, the attackers have to look for the IP address of the target. The next step, the attackers should poison the target computer with ARP poisoning or with trojan horse. Then the computer target will move following the attackers track. The attackers will bring the target into fake shop site, and make the target unrealized that he/she has entered the credit card information. 2. Sniffing This technique is unstable, why? Because its depend on the attackers luck. Just like poisoning, the attackers have to connect to the same network with the target. After that, the attackers should scan all of MAC address in the network. Next, the attackers start the sniffing program, such as Cain and Able or Wireshark. Last, the attackers should wait until someone in the network open a shop site and enter the information of the credit card. 2. Vulnerabilities on the site Example: 1. SQL Injection With this vulnerability the attacker can enter admin panel without knowing the username and password. They just need to enter a right syntax as username and password to enter the admin panel. If they are already in admin panel they can see the complete information of the buyer. 2. Blind SQL Injection Blind SQL injection is the most favorite vulnerability for the attackers. The attackers will only need the web browser to do this technique. First, the attackers have to found a right page to be injected with some syntax. After that the attackers should drop all database table, and looking for user table or admin table. If there is user table the attackers can drop the column and the attackers could get the full data of the user, included the credit card information. But, if user table doesnt exist, the attackers should use the admin table. The attackers should drop the admin column and search for the admin password. After the attackers cracks the admins username and password, the attackers could go to the admin panel and look for the information of the buyer. 3. Order log Order log is an old vulnerability, but theres still websites that have this vulnerability. With this vulnerability the attackers only need to use search engine and look for the order log. If the order log has already founded the attacker will open it, and suddenly get full information about the buyer. 4. Admin Directory This vulnerability makes visitor of the site be able to open admin directory freely. So, the attacker could use this chance to see the database. Order database is always in the database. In the order database, the data of the buyer will be saved completely, including credit card information. 3. Human error Example: Social Engineering or Human Manipulating Attacker could use security weakness which is human. Why? Because human is easy to be manipulated. First, the attackers could request the target to do something unimportant, and then set a trap for the target. Attackers will manipulate the target to follow the attackers scheme. Then, if the target has already been trapped, the attacker could make the target gives the complete information about the credit card. There are several ways that can be done to avoid the potential victims from identity theft : The potential victims should request a complete credit report every once a year and check it closely. When get unwanted pre-approved credit card offers, shred them up before tossing them. When in public, do not recite social security number outloud to a bank teller or store cashier. Use a secure mailbox that locks. When asked to give mothers maiden name as a code access, use another key word instead. Change the personal identification numbers on accounts regularly. Pick up and keep printed receipts at bank machines or gas pumps. Even if have been victimized, there are still things that can be done : Before calling the police, contact bank or credit card company and freeze the account. The reason for this is twofold: first, it will help minimize monetary loss, and two, most banks and creditors have a time period in which the notification still valid and can be used to protect the victims. Then call the police department. It does not matter if the identification is being used in the victims city or halfway across the world because the police are required by federal law to take the report. After making police reports, the victim could contact any of national credit bureaus and put a fraud alert on their account. While dealing with the credit bureau, the victim should get a current copy of their credit report. And read it carefully. Then, the victims can contact their insurance company and ask for compensation. At least one insurance company has developed an insurance policy to help deal with identity theft. REFERENCES Anonymous. Computer Crime Definition. cited from http://www.mariosalexandrou.com/definition/ computer-crime.asp [21 November 2009] Anonymous. Cybercrime. cited from http://www.techterms.com/definition/cybercrime [21 November 2009] Australian Institute of Criminology. Nine Types of Cybercrime. cited from http://www.crime.hku.hk/ cybercrime.htm [21 November 2009] Hoar SB. Identity Theft: The Crime of The New Millennium. cited from http://www.cybercrime.gov/ usamarch2001_3.htm [5 December 2009] Karnow CEA. Cybercrime. cited from http://www.davislogic.com/cybercrime.htm [5 December 2009] Herries S. Overcoming Identity Theft: What to Do After You Have Been Comprimised. cited from http://www.associatedcontent.com/article/272448/overcoming_identity_theft_what_to_do_pg2.html?cat=17 [5 December 2009]

Ijaraha

IJARAH – (Lease to Own) In mode of financing, lease is simply a transaction in which transfer of a property from one person to another person for an agreed time period on rental basis. Ijarah is an Islamic leasing contract, representing one of the most common modes of Islamic finance currently practice. Its popularity is due to strong parallel to convential leasing concept. The process of ‘Ijarah’ is very simple and easy to understand. This has been derived from the Arabic term â€Å"Ujr† or â€Å"Ujrat† which means ‘consideration' or ‘return' or ‘wages'.In simple words ‘Ijarah’ defines; contract of hiring, renting and leasing. This mode of financing is use in case of equipment as well as property. This mode of financing is better for both lessee and lessor. According to Islamic Shariah based rule, Ijarah is an agreement between the two parties (Lessor and Lessee. In this mode of financing; an owner (Lessor) transfers i ts usufruct to Lessee for an agreed time period on contract basis. In return, lessee obligation is to pay specific rent or rental for a fixed period. Period of lease and rental determined at the time of agreement.In Pakistan, this mode of transaction gained popularity to purchase car. Several products have been introduced by banks and institution to facilitate customers and provide car on affordable prices and rental prices. Key words 1. The Lessor (Mujjir) – The individual or organization who leases out/rents out the property or service is called the Lessor. 2. The lessee: (Mustajir) – The individual or organization who hires/takes the lease of the property or service against the consideration rent/wages/remuneration is called the lessee (Mustajir). . The Benefit (Maajur) – The benefit that is leased/rented out is called the benefit (Maajur). 4. The rent (Aj'r or Ujrat) – The consideration either in monetary terms or in quantity of goods fixed to be paid against the benefit of the goods or service is called the rent or Ujrat or Aj'r. Some important aspects of Ijarah Financing †¢ Subject of lease should be clearly defines in the agreement with the mutually understanding of the both parties. †¢ At the time of Ijarah transaction, asset or equipment in the ownership of the lessor. Only consumable items are permissible to lease out. Non consumable items are strictly prohibited to lease out. Example: Money, Wheat. E. g †¢ Duration of lease must be mentioned clearly in the agreement. †¢ Lessee acts as an ‘Ameen’. In case of any damage to asset will be borne by the lessee. On the other hand, any other loss or harm outside the control of the lessee, lessor is liable. †¢ Rent should be known at the time of contract. The lessor can not increase the rent unilaterally. Rent will start after the delivery of the asset. Process Flow 1.In first step customer find the bank with the request for financing and ente rs into an agreement with the bank. 2. The Bank buys an item (car or equipment) from the vendor. 3. Bank takes delivery of the car and title of ownership from the vendor. 4. The bank makes payment to vendor. 5. The bank signs the agreement of lease with the customer and transfer usufruct. 6. The customer makes periodic rental payment as per the contract. 7. According to the agreement, at the time of maturity customer can purchase the asset from the bank with the help of separate agreement.Only Difference 1. In sale transaction, title of property usually transferred to buyer. 2. But in case of Ijarah, title remains with the lessor. 3. Only the use of the property is transferred to the lessee. 4. Lessee pays rent to the lessor as per as the agreement. 5. At the time of maturity bank signed another agreement with the lessee and lessor gift the asset to the customer. After this transaction, lessee becomes the owner of the asset. This practice is known as â€Å" Ijarah – Wal â₠¬â€œ Iqtina â€Å" Basic Elements of Ijarah AgreementAccording to Shariah, there are three general terminology used for Ijarah agreement as follows: 1. Wording of the agreement: Offer and acceptance word must be included in the agreement. 2. Contracting Parties: This includes a Lessor, the owner of the property, and a lessee, the party that benefits from the use of the property. 3. Subject matter of the contract: This includes the rent and the benefit. Rent Calculation 1. Islamic banks calculate the cost of purchasing the asset that is to be leased and intend to earn an amount equal to the rate of interest. . Agreement between the parties provides that the rental will be equal to the rate of interest or in addition to something. 3. While the rate of interest is variable, it cannot be set for the whole duration of the lease. 4. It is permissible to divide the cost price of the Asset and ownership of the Lessor to the Asset into several parts and to sell each part of ownership on pay ment of proportionate price/equity of the Lessor under a separate sale contract. Ijaraha IJARAH – (Lease to Own) In mode of financing, lease is simply a transaction in which transfer of a property from one person to another person for an agreed time period on rental basis. Ijarah is an Islamic leasing contract, representing one of the most common modes of Islamic finance currently practice. Its popularity is due to strong parallel to convential leasing concept. The process of ‘Ijarah’ is very simple and easy to understand. This has been derived from the Arabic term â€Å"Ujr† or â€Å"Ujrat† which means ‘consideration' or ‘return' or ‘wages'.In simple words ‘Ijarah’ defines; contract of hiring, renting and leasing. This mode of financing is use in case of equipment as well as property. This mode of financing is better for both lessee and lessor. According to Islamic Shariah based rule, Ijarah is an agreement between the two parties (Lessor and Lessee. In this mode of financing; an owner (Lessor) transfers i ts usufruct to Lessee for an agreed time period on contract basis. In return, lessee obligation is to pay specific rent or rental for a fixed period. Period of lease and rental determined at the time of agreement.In Pakistan, this mode of transaction gained popularity to purchase car. Several products have been introduced by banks and institution to facilitate customers and provide car on affordable prices and rental prices. Key words 1. The Lessor (Mujjir) – The individual or organization who leases out/rents out the property or service is called the Lessor. 2. The lessee: (Mustajir) – The individual or organization who hires/takes the lease of the property or service against the consideration rent/wages/remuneration is called the lessee (Mustajir). . The Benefit (Maajur) – The benefit that is leased/rented out is called the benefit (Maajur). 4. The rent (Aj'r or Ujrat) – The consideration either in monetary terms or in quantity of goods fixed to be paid against the benefit of the goods or service is called the rent or Ujrat or Aj'r. Some important aspects of Ijarah Financing †¢ Subject of lease should be clearly defines in the agreement with the mutually understanding of the both parties. †¢ At the time of Ijarah transaction, asset or equipment in the ownership of the lessor. Only consumable items are permissible to lease out. Non consumable items are strictly prohibited to lease out. Example: Money, Wheat. E. g †¢ Duration of lease must be mentioned clearly in the agreement. †¢ Lessee acts as an ‘Ameen’. In case of any damage to asset will be borne by the lessee. On the other hand, any other loss or harm outside the control of the lessee, lessor is liable. †¢ Rent should be known at the time of contract. The lessor can not increase the rent unilaterally. Rent will start after the delivery of the asset. Process Flow 1.In first step customer find the bank with the request for financing and ente rs into an agreement with the bank. 2. The Bank buys an item (car or equipment) from the vendor. 3. Bank takes delivery of the car and title of ownership from the vendor. 4. The bank makes payment to vendor. 5. The bank signs the agreement of lease with the customer and transfer usufruct. 6. The customer makes periodic rental payment as per the contract. 7. According to the agreement, at the time of maturity customer can purchase the asset from the bank with the help of separate agreement.Only Difference 1. In sale transaction, title of property usually transferred to buyer. 2. But in case of Ijarah, title remains with the lessor. 3. Only the use of the property is transferred to the lessee. 4. Lessee pays rent to the lessor as per as the agreement. 5. At the time of maturity bank signed another agreement with the lessee and lessor gift the asset to the customer. After this transaction, lessee becomes the owner of the asset. This practice is known as â€Å" Ijarah – Wal â₠¬â€œ Iqtina â€Å" Basic Elements of Ijarah AgreementAccording to Shariah, there are three general terminology used for Ijarah agreement as follows: 1. Wording of the agreement: Offer and acceptance word must be included in the agreement. 2. Contracting Parties: This includes a Lessor, the owner of the property, and a lessee, the party that benefits from the use of the property. 3. Subject matter of the contract: This includes the rent and the benefit. Rent Calculation 1. Islamic banks calculate the cost of purchasing the asset that is to be leased and intend to earn an amount equal to the rate of interest. . Agreement between the parties provides that the rental will be equal to the rate of interest or in addition to something. 3. While the rate of interest is variable, it cannot be set for the whole duration of the lease. 4. It is permissible to divide the cost price of the Asset and ownership of the Lessor to the Asset into several parts and to sell each part of ownership on pay ment of proportionate price/equity of the Lessor under a separate sale contract.

Consequences of depression according to Beck’s cognitive theory Essay

According to Beck (1976), depression is characterized by cognitive distortions and is characterized by six features. The first one, arbitrary interference refers to the process of deriving a conclusion from a phenomenon without necessarily having evidence to support the conclusion or when the evidence available does not jell with the conclusion. Secondly, a collapse in the cognitive triad may lead to selective abstraction, which involves focusing on details that do not match with a given context while ignoring the salient features of the phenomenon at hand. For instance, students with a negative cognitive triad will have a tendency to perceive examination questions in their own way which is not in line with the intended answer. Thirdly, the affected people also develop a habit of overgeneralization of facts. This is as situation whereby there is a tendency to create general rules to specific or even isolated instances. For example, a student of mathematics would always view particular calculations as difficult irrespective of how simplified they may be. The fourth point is that depressed people also have tendencies to commit magnification and minimization errors while doing their tasks. This is because they usually have preformed mindsets hence any attempt to inject new knowledge is fruitless. Finally, Beck (1976) noted that depressed individuals might embrace too much personalization and become absolutistic or dichotomous in thinking. This is because of fear that the world does not like them, and that their future is always bleak- the consequences of a purely negative cognitive triad. Personalization for instance makes parents believe that they culpable when their children misbehave. Empirical evidence for Beck’s cognitive theory There is a strong indication that the cognitive triad hypothesis indeed highlights the plight of depressed people. For instance, it could be true that depressed people report more negative thinking about themselves, their world and their future (Beck, 1976). In regard to thinking about the self, distressed people usually resort to less positive self-referent beliefs and become highly critical of themselves and their actions. They are also likely to report a number of imagined activities and how they managed to escape from the tedious tasks (they will never attempt difficult tasks since they always have a sense of lack of confidence in themselves). The theory model therefore builds a foundation for solving psychological problems and since it has every indication that such problems have the sources within the affected individuals, it is these individuals themselves who can best afford a solution to their problems. In essence, the model indicates that people have to change the attitudes towards themselves, the world and the future (and do so in a manner that anticipates good outcomes). Only by doing so can human beings expect a positive cognitive triad, hence positive thinking about life. Beck’s theory and accessibility Beck’s cognitive theory model proposes features that can be procedurally defined and empirically tested, the use of cognition as one of the main parameters to evaluate the behavior and response of people to various phenomena adds impetus to the model’s worth. In spite of the fact that the model does not describe all cognitive processes, it still highlights the varying levels of thoughts and has an assumption that all thoughts associated with psychological abnormalities are spontaneous and just close to consciousness. Another assumption of Beck’s cognitive theory is that individuals can be trained to in order to be able to access the products of their faulty information processing. How this is possible is however amenable to discussion since individuals have different levels of grasping skills and exist in different environments. In short, it may not be possible to train all individuals to be able to trace back their faults and therefore identify their shortcomings. How personality types are created Beck’s theory has evolved over time and one of the most significant modifications it has gone through is its ability to explain differences in personality. According to the theory, people have individual differences that determine the types of events that may cause depression episodes in them. For example, a â€Å"sociotropic† personality is a type where the person concerned bases his or her self-belief in how others regard him or her or talk of his or her actions. For such a person, a perceived snub from a trusted person (like a close friend) is enough cause of a high level of depression. Another kind of personality, according to Beck, is the â€Å"autonomous† type. Such people feel challenged and depressed when their expectations of being in control over situations are challenged, for instance in losing a match where there were high chances of winning.

The Death Of St Lucie County - 796 Words

According to Healthypeople.gov (2014) in the United State heart disease is the leading cause of death and stroke is the third leading cause of death. These diseases are very evident in this health care provider community of St. Lucie County. The County of St Lucie ranks 22 out of 67 in health outcome. Health outcome represents how healthy a County is (County Health Ranking, 2013). This poor health ranking in St. Lucie County is evident in the disease category of heart disease and stroke. Heart disease was the second leading cause of death in 2013 for St. Lucie County, accounting for 638 deaths. The combine 638 deaths from heart disease and 135 deaths from strokes, makes heart disease and stroke the leading cause of death for St. Lucie county in 2013 ( Florida Health, 2013). The contributing factors that are causing heart disease and stroke in St. Lucie county are, unhealthy cholesterol levels, high blood pressure, cigarette smoking, diabetes, overweight/obese and lack of physical activity ( Florida Health, 2013). Both of these disease combined are not only detrimental, but also very costly financially. These disease combined â€Å"accounts for more than $500 billion in health care expenditures and related expenses in 2010 alone† (Healthypeople.gov, 2014, para.2). Because heart disease and stroke is having such a profound effect on the United States population, â€Å"Increase overall cardiovascular health in the U.S. population† is one of HealthyPeople.gov (2014) main goal forShow MoreRelatedCenters For Disease Control And Prevention Essay753 Words   |  4 Pagesthat follows hepatitis, HIV/AIDS, STD, and TB rates for the month of December 2015. The document lists the percent rate change in new HIV cases and deaths rates due to AIDS in each county. 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