Reference no: EM132022570 , Length: word count : 1300
Prepare a short research paper of approximately 1300-1500 words, double-spaced, exclusive of cover(optional), title page (optional), and table of contents (optional), endnotes, and bibliography.
Your paper must use APA formatting with the exception that tables and figures can be inserted at the appropriate location rather than added at the end.
Assume the following incidences happened years ago before there were agreements of cooperation between the US and the Cayman and Nevis Islands. So, neglect, the recent agreements between the US and the Cayman Islands government for your analysis.
Scenario:
Alexis, a high net worth customer, banks online at Security Bank and Trust (SBT) and has agreed to use 3DES (also known as Triple DES) encryption in communicating with SBT. One day, Alexis received a statement showing a debit of $1,200,000 from her account.
On inquiring, she was told that the bank manager, Josephine, transferred the money out of Alexis's account into an account of her own in an offshore bank in the Cayman Islands. When reached via long distance in the Cayman Islands, Josephine produced a message from Alexis, properly encrypted with the agreed upon 3DES keys, saying:
"Thanks for your many years of fine service, Josephine. Please transfer $1,200,000 from my account to yours as a token of my esteem and appreciation; Signed Alexis.
Alexis filed suit against Josephine, SBT and the government of the Cayman Islands, claiming that the message was a forgery, sent by Josephine herself and asking for triple damages for pain and suffering. SBT likes to file a counter suit against Alexis, claiming that all procedures were followed properly, and that Alexis is filing a nuisance suit.
You have been employed by SBT as a cryptographic expert and a consultant to investigate and give recommendations based on your findings including how to proceed with the suit and to produce a report for the SBT Board of Directors, which will provide the basis for them in determining how to proceed in this matter.
Your report to the Board of Directors should address but not limited to the following issues:
• From the facts, as presented, what can be determined about whether Alexis intended to make Josephine a gift of $1,200,000? State your conclusion and support it with facts that are reported above. Describe how did the facts help you in forming your conclusion?
• What is the significance of Cayman Island? Did it affect your conclusion? If yes why? If no why?
• Assuming SBT wishes to continue using only 3DES as its cryptographic system, what advice would you give to SBT. That is what could SBT have done to protect against this controversy arising?
• And what advice you would give to the customer or what could Alexis has to do to protect against this controversy arising in future? Given that SBT wishes to continue using only 3DES as its cryptographic system.
• Would this controversy have arisen if SBT and Alexis were using AES rather than 3DES?
• What is a plausible explanation of what may have happened in this case?
Your report should clearly address these issues, with sufficient detail and background to allow the "cryptographically challenged" Board of Directors to understand 3DES.
The report should explain: the issues involved, i.e., what went wrong and why; recommendation to formulate plans for how to approach the immediate legal issue with Alexis; and how to continue business in the future if the board wants to continue using 3DES. Assume that the directors do not know what 3DES is and how it works