Private Security Industry Essay Example | Topics and Well Written Essays - 1500 words

Private Security Industry - Essay Example Their job description is private in nature, that is, they serve only under the benefit of their employees. Police officers, on the other hand, have limitless task that range from patrolling in the streets to the prosecution of case of arrested violators. They play a vital role in the administration of the Criminal Justice System as the first pillar of the system. They help enforce the fundamental duty of every state to serve and protect the lives and properties of its people. Police officers are far better trained than security officers. They are even receiving better salaries and benefits since. They received their salaries directly from the treasure box of the government they serve. Despite of these differences with the police service, security services are a booming industry nowadays. Because of the spiraling crime rate in the society, many people now are security conscious. Businessmen, politicians, and other high profile individuals are those that usually engage the services of security agencies. There is a limit as to what police agencies can do. One of these limitations is that police agencies cannot serve at the pleasure of private persons since they serve the public in general. Security agencies, on the other hand, capitalize much on these limitations. ... Since said activities is usually conducted in a business matter, operators and owners recruit and employ only to obtain high profit with fewer expenses. This is because of the absence of strict laws that regulate the business. Operators and owners have the freedom to select and employ their security guards. That is why they often end up with security guards who are unlicensed, less educated, inexperienced, untrained, and incapable of performing security task. With the concept of self-regulation of these industries, security guards also received meager salaries and less benefits which to not equate to the long hours that they render service. The Private Security Industry Act of 2001 In the recent developments, many states had already adapted means and measures within which to improve the status of their security industry. One of these means is the passage of laws or acts which are primarily aimed in enhancing and regulating this booming industry. The United Kingdom, for instance, passed a regulatory act entitled "Private Security Act of 2001" that received Royal Assent on 11 May 2001. As explained in the Explanatory Notes (2001), The Act sets out a system for the statutory regulation of the security industry. It aimed to raise standards, ensure greater consistency, and introduce arrangements that vet people working in the industry to exclude criminal elements who tarnished the image of the industry. It also aimed to provide recognition to companies who can provide a satisfactory service measured against relevant agreed standards and who are able to demonstrate such recognition to costumers through voluntary scheme. To achieve realized these objectives, the Act created the Security Industry Authority, referred through

Martha Stewart Fraud Case Essay Example | Topics and Well Written Essays - 750 words

Martha Stewart Fraud Case - Essay Example The lucrative career of Martha Stewart includes caterer, business owner, home living expert and stockbroker. Martha Stewart Living Omni media can be considered as her success story which has turned from a catering business to a popular and well-recognized brand. According to an author, â€Å"To the degree that her business partners were prepared to help advance the success of Martha Stewart, she was prepared to work with them. To the degree that they got in her way, she was willing to roll right over them† (Daniels Ethics1 2). Peter Bacanovic was the stockbroker of Martha Stewart. She along with her stockbroker has been indicted for â€Å"making false statements and conspiracy to obstruct justice† (Reynolds 1). The Insider trading scandal threatened the career of Martha Stewart’s career. The scandal took place due to the association with the ImClone System. It is a biopharmaceutical company. Martha Stewart owned the stock of this company. However, the FDA refused to review the cancer drug Erbitux of ImClone system. It tumbled the stocks of the company. However, same thing occurred with the insiders of ImClone. Martha Stewart was the potential stock owner. She was one of the closest friends of CEO of the ImClone. However, she gave instruction to his broker to transfer the money invested in stock to the bank account of his daughter. Peter Bacanovic was also the broker of the CEO of ImClone, Mr. Sam Waksal. However, his daughter also has requested the broker to sell her stock capital. The CEO of ImClone was arrested due to obstruction of justice, bank fraud and insider trading. He was sentenced to seven years of jail. However, he got released after the five years of jail term.