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Sunday, 23 June 2013

Deactivate your Facebook account!


Malaysians have firmly entrenched Facebook in their lives

Did you know that Malaysians have the most number of Facebook friends in the world? A British research agency, TNS, revealed that on average Malaysians have 233 Facebook friends and spend roughly nine hours a week on Facebook. What a lot of time indeed!

Before proudly shouting Malaysia Boleh!, think about what this actually means. Facebook has become an integral part of our lives like nasi lemak, hence we need to fully understand its consequences before it becomes an enemy. Only a fraction of your Facebook friends are your actual friends.

It has become to easy to be Facebook friends with anyone. The list includes your neighbour’s best friend’s sister whom you once met at a Christmas party. The time spent on Facebook per week is disturbing. If today’s youth spend hours communicating online, what is the impact on their real life communication and social skills?

THE PERILS OF FACEBOOK

As we all know, online communication is a distant, disfigured cousin of face-to-face communication. Communication is a delicate tool with many layers to it.

To start off, there is verbal and non-verbal communication. This consists of spoken words, pauses, hand gestures, facial expressions, body language, vocal variety and intonation.

Facebook, like many other platforms of online communication, is a different ball game altogether. An entire conversation can take place without even a single properly constructed sentence. For that matter, an entire conversation can take place with just emoticons!

This has resulted in a generation who lack basic communication skills.There are so many people who can have hours of online conversations but can barely have a decent five minute face-to-face chat. In the real world, conversations cannot entirely consist of LOLs and smileys.

IMPAIRED COMMUNICATION

In reality, making new friends and meeting new people does not happen with a literal click. It takes time to build relationships and get to know people. Now, it is possible to be someone’s friend on Facebook without even having a single conversation or interaction with that person.

This destroys the natural flow of human interaction. Communication has been watered down thoroughly indeed. This evolution indicates the ebb of human communication skills.

Besides that, on Facebook, we are unable to observe the other party’s body language. This leaves a gaping hole in the communication flow, as body language makes up for nearly half of non-verbal communication.

Consequently, youngsters whom are major Facebook users are insensitive to body language responses of the other party. This will ultimately result in poor communication skills as youths are unable to decipher the non-verbal response of the other person.

It is also a common trend amongst the youth to respond to text/chat messages first rather than to the person speaking in front of them.

With electronic communication gaining preference over actual conversations, it is a common sight at gatherings to see people busy texting or tweeting instead of talking to the people at the party.

Our minds are tuned to prefer online communication, alienating traditional chit chat. It is a rather rude compulsion to respond to your beeping phone first as opposed to a person talking to you.


  Have we lost our offline communication skills? 

“SO WHAT?”

The inevitable “So what?” will echo from Gen-Y. Arguably, this is progression thanks to technology. Again, the age-old debate of whether technology is a bane or a boon. Using Facebook as an example, technology has created one-dimensional communicators.

There are a few scenarios to consider, the first being a job interview. Employers are invariably complaining about how job applicants are unable to hold a proper discussion despite scores of degrees and higher qualifications.

While they may have the knowledge, they are unable to communicate their ideas effectively. This is a career crutch, so to speak, because being able to shine in the workplace requries solid communication abilities. In this era, communication skills are a golden ticket to securing that job.

Another scenario would be networking events as traditional networking still plays a role in our personal and professional lives. Be it birthday parties, industry launches or university events, human interaction is much needed!

It is wrong to assume that being able to communicate and network skilfully online automatically translates to good face-to-face communication. Learning the art of networking can lead to obtaining valuable contacts and forging important relationships that will go a long way. Savvy communication skills will snag you a potential client or that really hot date.

As always, practice makes perfect. Thus, actively participating in such events instead of being physically there but virtually not (pun intended) will lead to better communication skills. We need to be able to sit down and enjoy a good old fashioned chat.

Another challenge young people face is to communicate with people of different generations, something you would not usually encounter on Facebook. While online, you tend to mingle with people of your age, with similar interests but in reality it is a useful skill being able to talk to anyone and everyone.

A sad scenario nowadays would be a family out for dinner but everyone is glued to his or her smartphone and tablets. Again, there is minimal interaction, defeating the very purpose of having dinner together.

THE PHONE STACKING GAME

There is a popular game to combat this issue; the stacking game. Commonly played with friends, it requires everyone to stack their phone in the middle of the table and the first person who reaches for the phone has to foot the bill. This ensures there is proper conversation and interaction between everyone present, with less virtual distractions.

So, be proactive about the situation. Consciously monitor your online and offline communication. Ensure you have sufficient skills to hold a conversation with just about anyone for a reasonable duration.

Realise that while online communication is good, offline communication will take you a long way especially in terms of career and relationship building. Take the initiative to practise and sharpen your communication skills before it is too late.

There are many organisations out there dedicated to improving communication skills such as Toastmasters International. Find out how you can be part of it.

Should we deactivate Facebook? Admittedly it is a little too harsh, but striking the right balance between our online and offline communication is the key.

Undeniably, Facebook has become part of our lives. Just like McDonald’s, the key is moderation. A good practice is to engage with people when with company instead of communicating with someone else online. Learn to be more articulate and expressive when speaking as there are no emoticons! Let us work together to ensure technology does not cause the annihilation of proper communication skills amongst us.





For the sake of money people will risk anything

Singapore's investigation into banks was triggered by the Libor-rigging scandal last year. 

HOT on the heels of the London interbank offered rate (Libor) rigging scandal comes the Singapore interbank offered rate (Sibor), the Singapore equivalent of the Libor rigging.

HSBC, Standard Chartered, JP Morgan Chase, Barclays and DBS are among 20 banks in which 133 traders tried to manipulate the Sibor, swap offered rates and currency benchmarks in the city-state, the Monetary Authority of Singapore (MAS) said in a statement recently.

For the sake of money, people will risk anything. In this case, Singapore is well known as a tough regulator, but they still dare to mess around with the Sibor. They are definitely asking for trouble.

According to South China Morning Post, MAS has censured banks for trying to rig benchmark interest rates and ordered them to set aside about S$12bil (RM30.13bil) at zero interest, pending measures to improve internal controls.

It is surprising that these traders have been caught with their pants down.

Regulators have cracked down on market players following the Libor rigging fiasco, which involved Barclays, UBS and the Royal Bank of Scotland paying fines of up to US$2.5bil (RM7.89bil).

This is why even when news emerged on punitive measures for the Libor rigging, very few people believed in its effectiveness.

MAS said it would make rigging key rates a criminal offence and bring supervision under its oversight.

To put this into process may take some time, while these market players exploit any loophole or weaknesses.

The fact that Asian banks are also involved in this Sibor rigging makes it even more unpalatable.

So far, Asian banks have remained strong amidst the financial crisis. Their reputation has remained largely untarnished, although most have been quite silent on their risk management.

Many of their Western counterparts have had to shed jobs massively and close down or downsize businesses, with some even having to accept taxpayers' money to survive.

At the same time, banks in the West became embroiled in the blame game, came under heavy fire from regulators and some even had to undergo a serious revamp of their business model.

Among the positive things happening among Asian banks is the recruitment of talent at a time of major job cuts in the Western banking sector.

But even that little positive aspect is going to be drowned by accusations of the Sibor rigging.

Manipulation of interest rates is a serious offence. Resulting from such collusion, some disruption may be seen in market movements, which may give rise to uncertainties.

Plain Speaking - By Yap Leng Kuen

Columnist Yap Leng Kuen reckons it is not always true that once bitten, twice shy.

Related posts:
'The year of shame 2012' get any worse in 2013? 
The Libor fuss!
HSBC Bank fined $1.92 billion for money laundering

The rotten heart of capitalism: interest rate-fixing 

Saturday, 22 June 2013

No privacy on the Net !

Revelations about PRISM, a US government program that harvests data on the Internet, has sparked concerns about privacy and civil rights violations. But has there ever been real privacy and security on the WWW?

 Demonstrators hold posters during a demonstration against the US Internet surveillance program of the NSA, PRISM, at Checkpoint Charlie in Berlin, Germany, ahead of US President Barack Obama’s visit to the German capital.

IMAGINE a time before email, when all your correspondence was sent through the post. How would you feel if you knew that somebody at the post office was recording the details of all the people you were corresponding with, “just in case” you did something wrong?

I think quite a few of you would be upset about it.

Similarly, some Americans are furious over revelations made about a system called PRISM. In the last few weeks, an allegation has been made that the US government is harvesting data on the Internet by copying what travels through some of its Internet Service Providers.

The US Director of National Intelligence has said that PRISM “is not an undisclosed collection or data mining program”, but its detractors are not convinced that this doesn’t mean no such program exists.

I think there are mainly two kinds of responses to this revelation: “Oh my God!” and “What took them so long?”.

The Internet has never really been secure. Because your data usually has to travel via systems owned by other people, you are at their mercy as to what they do with it. The indications are that this is already being done elsewhere.

Countries such as China, India, Russia, Sweden and the United Kingdom allegedly already run similar tracking projects on telecommunications and the Internet, mostly modelled on the US National Security Agency’s (unconfirmed) call monitoring programme. For discussion, I’ll limit myself for the moment to just emails – something that most people would recognise as being private and personal.

I find many people are surprised when I tell them that sending email over the Internet is a little bit like sending your message on a postcard. Just because you need a password to access it, doesn’t mean it’s secure during transmission.

The analogy would be that your mailbox is locked so only you can open it, but those carrying the postcard can read it before it reaches its final destination. Of course, there are ways to mitigate this. One has to be careful about what one put in emails in the first place. Don’t send anything that would be disastrous if it were forwarded to someone else without your permission.

You could also encrypt your email, so only the receiver with the correct password or key could read it, but this is difficult for most end users to do. (For those interested in encrypting emails, I would recommend looking at a product called PGP.)

The analogy holds up for other Internet traffic. It’s easy to monitor, given enough money and time. And as easy as it is for the Good Guys to try to monitor the Bad Guys, it’s just as easy for the Bad Guys to monitor us hapless members of the public.

But who do we mean by the Bad Guys? Specifically, should the government and law-enforcement agencies be categorised as ‘Bad Guys’ for purposes of privacy? Generally, the line oft quoted is “if you have nothing to hide, then you have nothing to worry about”.

Yet, I think we all accept that there should be a fundamental right to privacy, for everybody from anybody. An interesting corollary to being able to express your thoughts freely is that you should also be able to decide when and how you make them public.

The fault in relying on organisations that say “trust us” isn’t in the spirit of their objectives, but in how the humans in them are flawed in character and action.

An example quoted regularly at the moment is how the FBI collected information about Martin Luther King because they considered him the “most dangerous and effective Negro leader in the country”.

One way of defining the boundaries are by codifying them in laws. For example, the Malaysian Personal Data Protection Act prohibits companies from sharing personal data with third parties without the original owner’s consent.

However, this law explicitly does not apply to the federal and state governments of Malaysia. Another clause indicates that consent is not necessary if it is for the purpose of “administration of justice”, or for the “exercise of any functions conferred on any person by or under any law”.

In relation to the revelations of PRISM, several questions come to mind: Can Internet traffic (or a subset of it) be considered “personal data”? Is it possible for government agencies to collect and store such data without your consent?

And if so, what safeguards are there to ensure that this personal data is accurate, is used correctly and is relevant for storage in the first place?

This should be a sharp point of debate, not just in terms of which of our secrets the government can be privy to, but also of which of the government’s information should be readily accessible by us.

True, there is so much data out there that analysing it is not a trivial task. However, companies such as Google are doing exactly that kind of work on large volumes of unstructured data so that you can search for cute kittens. The technology is already on its way.

Perhaps I am being over-cautious, but it seems a bit fantastical that people can know your deepest and darkest secrets by just monitoring a sequence of 1’s and 0’s. But, to quote science fiction author Phillip K. Dick, “It’s strange how paranoia can link up with reality now and then”.

Contradictheory
By DZOF AZMI

> Logic is the antithesis of emotion but mathematician-turned-scriptwriter Dzof Azmi’s theory is that people need both to make sense of life’s vagaries and contradictions. Speak to him at star2@thestar.com.my.

Related post:

US Spy Snowden Says U.S. Hacking China Since 2009