Technology has facilitated the use of transiting data. With that in mind, sensitive information must be kept within close safe guards. Failure to protect vital information may facilitate its retrieval by criminals or those with malicious intents to use that data unethically. Individuals with access to material non-public information may sell that information to an outside party for profit. Likewise, these individuals may harvest this data within their perimeters to use as ammunition to defraud or blackmail an organization. Employers need to be wary of the threat of insiders exposing sensitive information to outside parties. “An insider is anyone who has intimate knowledge of internal operations and processes, or trusted access to …show more content…
“Fraud is less likely to occur when employees believe that security is everyone’s business, when they see themselves as protecting the company assets, and when they believe it is their responsibility to watch for and report evidence of computer fraud” (Haugen and Selin 4). When employees resemble sound morals, the probability of employees harboring intentions to steal company secrets decrease. “Behind this growth in monitoring policy is a business goal aimed at ensuring the continued viability and success of the company, which should be in every employee’s long-term best interest” (Fleming 110). Situations that promote employee fraud in the workplace include poor internal controls, poor personnel policies and practices, and a lack of integrity principles (Haugen and Selin 2). Management needs to present the image that it is vital to secure the assets of the firm to protect the longevity of not only your career but also the company’s existence in the corporate world. When employees feel like they are valued member of their company, they are less inclined to act in a manner that would defraud their place of employment for personal gain. Likewise, increasing the perception of detection inspires employees to refrain from deceptive activities. People generally refrain from unethical behavior when there is a perceived notion of harsh consequences should they engage in those actions. Unwarranted disclosures of company trade secrets threaten the livelihood as
Not to our surprise, the employee would almost always choose their economic stability over their integrity. It is still not easy to say that the employee’s conscious didn’t warn them of the risks, the first time. It begins with just a simple upgrade tune up and then trickles to $1,000 in new auto parts. If we look back at the Sear’s auto mechanic example, a mechanic could easily convince the customer that their car needed a whole new system because of the customer’s lack of knowledge of the subject. The customer automatically assumes there is a guaranteed trust commitment to their service, but in turn gets fooled. The evidence unearthed by investigators found nearly identical reports of cheating at one Sears auto repair shop after another.
* In today’s world of fast-developing technology, in which the click of mouse can dispense a plethora of information, privacy for job seekers and employees is a significant issue. One type of privacy issue in the workplace occurs when a company gathers or circulates private or personal information about employees or candidates for employment.
Internal fraud consists in “a type of fraud that is committed by an individual against an organization. [Furthermore], a perpetrator of fraud engages in activities that are designed to defraud, misappropriate property, or circumvent the regulations, law, or policies of a company”[8]. Not only has the incidence of internal fraud increased in frequency because of the availability of sensitive information such as client details or confidential business documents; moreover, this type of fraud is found in various types of organizations, ranging from corporations, public service institutions and financial institutions. Our analysis will concentrate on the most common and prolific types of internal fraud, namely identity theft, insider trading, loan fraud and wire fraud. Interestingly, PriceWaterhouseCooper conducted a survey that revealed that the “demographics of a typical fraudster are as follows: males (85% of cases), 31-50 years (72% of cases), reached high-school level (50%), Bachelor’s or post graduate degree (50%) and middle or senior management (52%)”[9].
Cash is such an important current asset to a business, especially for the every day running of it, so ready access to cash is crucial. Therefore, every company must utilize safeguards to protect and manage their cash. An alarming statistic in one of The National Restaurant Association’s (NRA) reports shows that employee theft cost $8.5B to its members in 2007 – the equivalent of 4% of food sales. Furthermore, only 10% of employees do not commit fraud in any situation, while 5% do commit fraud, and the other 85% will actually consider
When an employee reaches a level of trust with their company and the controls of that company is weak, the employee may assume this is an opportunity to commit the crime and avoid detection.
One thing we know is that not everyone is trustworthy and has high morals. Just like there are dishonest customers the same can be say for workers of a company. A company must have internal controls that can help them identify both dishonest employees as well as customers. Employee thief cost the company more because of the time and the extra internal controls that must be put in place not to mention
The opening of unauthorised accounts began in 2011 and ended with 5 300 employees being fired over 2 million phoney accounts. The issue beginning with employees trying to “boost their sales figures and make more money” (Egan, 2016) initially would have been seen as an unfaithful act against Wells Fargo. However, in accordance with organisational norms, information sharing is regarded as usual and socially expected workplace behaviour. Employees would feel induced to behave similarly to their fellow employees and gain related benefits. For an organisation to survive, it’s members must work cohesively as a group and commit themselves, even if they have to relinquish some of their personal freedom (Shaw & Barry, 2016)
Research Objective: The main theme of this research paper is to protect sensitive information that any organization or business possess. With community’s increasing reliance on information systems and technology there is scope for security breaches, more likely to happen. Not only monetary loss it can create damage to information assets that has sensitive data. To secure these assets from any internal or external damage organizations has to follow proposed rules and guidelines. Also security responsibilities
A study conducted by the Association of Certified Fraud Examiners (ACFE) surveyed 959 cases of reported occupational fraud between 2006 and 2008. The report broke fraud into three categories: fraudulent statements, asset misappropriation, and corruption. Ninety-nine of the 959 cases reported financial statement fraud with a median loss of two million dollars, making it the most costly of the fraud categories. In general, the study found that publicly traded companies that had implemented SOX controls reported fewer losses (70 to 96 percent) than those who had not implemented SOX controls. These results imply that implementation of SOX controls are directly related to a reduction in theft and other fraudulent behaviors. Surprisingly, it was noticed that in companies where management must certify the financial statements, fraud took approximately three months longer to detect than in those companies where management was not required to certify the financial statements. However, due to the complexity and relative newness of SOX and the complexity of the businesses and the ingenuity of people, it is not surprising that SOX has not been a booming success. Hopefully, over time, all the wrinkles will be ironed out allowing for deterrence or immediate detection to be attainable. (Rappeport,
Employee fraud often takes place when pressure (motivation), opportunity and rationalism are present. In fact, employee perception where failure to meet sales target might leave them unemployed and unable to settle bills for their family (Kelly, 2016). Furthermore, watching other co-worker committing fraud will most likely influence the employee to do the same because their mindset tends to persuade themselves that it is one of a way to meet their quota plus “everyone is doing it.”
Confidentiality must be met in the storage, processing, and transmission of data in an organization. For example, we are going to look at a major recent data breach. On March 8, 2017, the US department of homeland security sent Equifax and notice to patch a vulnerability in versions of the Apache Struts software. On March 9, Equifax dispersed the information to applicable personnel. Although told to apply the patch, Equifax security team did not find
Some industry-specific factors, such as having valuable near-cash assets, can increase the organization's vulnerability. Also they will need to rationalize the actions as justifiable. The individuals committing the fraud must first convince themselves that their behavior is acceptable or will be temporary. For example, Barry Minkow’s believed that the lies and deceit are for the betterment of his company and that with time everything will eventually return to normal.
Customer Needs- Security systems are required by people to0 keep their homes safe, it gives them a sense of safety for their personal belongings, when they are away from their home.
The purpose for an IT security policy is to provide “strategy, policy, and standards regarding the security of and operations in cyberspace, and encompasses the full range of threat reduction, vulnerability reduction, deterrence, international engagement, incident response, resiliency, and recovery policies and activities, including computer network operations, information assurance, law enforcement, diplomacy, military, and intelligence missions as they relate to the security and stability of the global information and communications infrastructure” ("Cyberspace policy RevIew", 2016).
Security is a central concern in the study of international relations (IR). Yet despite being the focus of considerable scrutiny, few agreed conceptions of security exist (Buzan, 1991; Huysmans, 2006; Terriff et al., 1991; McSweeney, 1999; Morgan, 1992; Croft 2012; Smith 2000). Buzan even goes as far to posit that the very conception of security is “essentially contested” and thus poses an unsolvable debate (Buzan, People, states and fear; Little, ideology and change, p35). These disagreements have created rifts in the security community over what can be threatened and indeed what can even be considered a threat. Part of the complexity to the subject is derived from the numerous opposing and often contradicting theoretical perspectives within international relations itself, of which security is a sub-field (Terrif et al. 1991 – Security studies today). This paper thereby seeks to trace the various theoretical strands of security studies with the hope of elucidating how and why Islam, and Muslims immigrants have been increasingly portrayed as a threat and ‘Otherised’ in Britain.