The points of weakness identified in the hack on TJX included lack of encryption in processing, vulnerability to wireless attacks, vulnerable USB ports, lack of processing logs, weak compliance practices, and auditing failures. In order to minimize its risk to a hack, TJX should have followed the COBIT or COSO frameworks for cyber security. Both frameworks outline how to plan and organize company values, assess the risk, implement control activities, and maintain and monitor its system to make sure the company’s IT system is as secure as possible. Either framework would have identified the weakness TJX faced when leaving credit card information unencrypted for a time as well as storing unencrypted information. If credit cards could not be processed
while encrypted, the system should have been the most secure at this point in the transaction. In addition, proper monitoring would have identified unencrypted data and the vulnerabilities presented by storing this data. TJX should have been able to identify its vulnerability to wireless attacks in the “Monitor and Evaluate” phase of the COBIT framework. When hackers were accessing the database from unfamiliar IP addresses, the system should have been alerted of these activities. In the development of this IT system, there should have been more controls implemented in identifying when strange activities were occurring. Control activities (a control component of the COSO framework) should have been in place for the hardware systems as well as the software systems. USB ports could have been more secured by needing verification before accepting the USB’s data or locking ports. Monitoring activities would have allowed for TJX to better track logs on how data was being accessed. The logs would have identified specific data being targeted, and monitoring the logs would have allowed TJX to lock down the data or begin identifying how the data was being accessed. Finally, the compliance requirements would have been met and auditing would have been more comprehensive had either frameworks been adopted. TJX would monitor its own internal controls as well as check for compliance with external requirements following ME2 and ME3 processes of the COBIT framework. The scope of IT governance would have been greater using one of these frameworks as it would have made sure the system was acceptable to board members, executive management, auditors, and regulators.
UST Inc. is a dominant player in the smokeless tobacco industry. We have been tasked with weighing the cost and benefits of having leverage in their capital structure and to advise the CEO whether or not to go ahead with the recapitalization. After solving for UST’s credit ratings and value given three different stock buyback scenarios, $700 million, $1 billion, and $1.5 billion, we would suggest that UST move forward with the recap at $1 billion.
On the evening of January 5, 1993, Tracie Reeves and Molly Coffman, both twelve years of age and students at West Carroll Middle School, spoke on the telephone and decided to kill their homeroom teacher, Janice Geiger. They agreed that Coffman would bring rat poison to school the following days so that it could be placed in Geiger's drink. After that , they would steal Geiger's car and drive to the Smoky Mountains. On the morning of January 6, Coffman placed a packet of rat poison in her purse and board the school bus. Coffman told another student, Christy Hernandez, of the plan and show her the poison. Hernandez went and informed her homeroom teacher, Sherry Cockrill. Cockrill then informed the school principal, Claudia Argo. When Geiger entered her classroom that morning, she observed Reeves and Coffman leaning over her deck; and when the girls noticed her, they giggled and ran back to their seats. Geiger saw a purse lying next to her coffee cup on the top of the desk. Shortly after Argo called Coffman to the principal's office, rat poison was found in Coffman's purse. Both Reeves and Coffman gave written statement to the Sheriff investigator concerning their plan to poison Geiger and steal her car.
...d to follow the approach of NSWCA, after considering the reasoning in Dao. Now it is consistent in this issue across NSW and Victoria.
Deere & Company (Deere) has been experiencing a decrease in its profit margins for one of its aftermarket resale products, specifically the gatherer chain, over the past couple of years. Currently, the cost-price ratio is at 80% compared to last year’s 50%. The purchase cost for the gatherer chain has been steadily increasing, while the aftermarket price has been decreasing. Deere has been budgeting its price to match that of a major competitor, which has been causing the decrease. The company’s main supplier of its gatherer chain is Saunders Manufacturing, with which Deere has established a long term relationship. The owner of Saunders has a reputation of being a tough negotiator, and is someone who is known for not willing to share financial information about the company. However, the U.S. Department of Commerce has provided financial estimates in Saunders’ industry as follows: material spend, 42%; direct labor, 16%; indirect labor, 6%; Overhead, 20%. These percentages are helpful to Deere because they can be used in the negotiation process with Sanders. Since Sanders will not share any specific cost information, Deere is able to use these estimates as a way to justify Sanders reducing its prices. Using these estimates during the negotiations might also incentivize Sanders to provide accurate numbers for its specific manufacturing costs.
Hacking into large companies or agencies to steal one’s card information has become simple. Lewis (2013) says that, “Hacking is incredibly easy; survey data consistently shows that 80 to 90 percent of successful breaches of corporate networks required only the most basic techniques“(p. 1). On November 27, 2013, Target’s security was breeched when forty million credit and debit cards were stolen. The breach lasted from November 27 to December 15, 2013.
1. Diversity should provide greater alternatives and inputs into the decision process, but if diversity is blocked due to organizational infrastructures that do not allow the free flow of information, than the diversity goes unutilized. Johnson & Johnson (J&J) structured its company to insure the positive impact of diversity in regards to decision making through its creation of FrameworkS. Through Frameworks, the executive committee is partnered with a variety of managers from around the organization that concentrate on specific, unprogrammed organizational decisions. FrameworkS matches the problem with appropriate decision making method. In this approach, managers share the problem with others and engage the group in consensus to arrive at a final decision.
Security helps the organization meet its business objectives or mission by protecting its physical and financial resources, reputation, legal position, employees, and other tangible and intangible assets through the selection and application of appropriate safeguards. Businesses should establish roles and responsibilities of all personnel and staff members. However, a Chief Information Officer should be appointed to direct an organization’s day to day management of information assets. Supporting roles are performed by the service providers and include systems operations, whose personnel design and operate the computer systems. Each team member must be held accountable in ensuring all of the rules and policies are being followed, as well as, understanding their roles, responsibilities and functions. Organizations information processing systems are vulnerable to many threats that can inflict various types of damage that can result in significant losses (Harris, 2014). Losses can come from actions from trusted employees that defraud the system, outside hackers, or from careless data entry. The major threat to information protection is error and omissions that data entry personnel, users, system operators and programmers make. To better protect business information resources, organizations should conduct a risk analysis to see what
“One state, one rate,” chants several organizations in unison fighting for in-state tuition in the HKonJ march. The HKonJ march is also known as Historic Thousands on Jones Street, where people go to Raleigh and march for different reasons. In this case, organizations were fighting for the rights of undocumented students. An undocumented immigrant, according to the National Immigration Law Center, is someone who enters the U.S. without inspection or with fraudulent documents, entered with papers, but then stayed longer than the terms allowed or their status remained in the U.S. without authorization (2012). Though at times, undocumented students are brought to the U.S. without a fault of their own. So, taking this into account eighteen states,
Nowadays, hacking systems which get the data from payment card in retail stores is a popular issue. The use of stolen third-party vendor credentials and RAM scraping malwares were the main reasons for the data breach. A brief introduction of when and how the Home Depot’s data breach took place and how the home depot reacted to the issue and rectified it by
As electronic commerce, online business-to-business operations, and global connectivity have become vital components of a successful business strategy, enterprises have adopted security processes and practices to protect information assets. But if you look at today's computing environments, system security is a horrible game of numbers: there are currently over 9,223 publicly released vulnerabilities covering known security holes in a massive range of applications from popular Operating Systems through to obscure and relatively unknown web applications. [01] Over 300 new vulnerabilities are being discovered and released each month. Most companies work diligently to maintain an efficient, effective security policy, implementing the latest products and services to prevent fraud, vandalism, sabotage, and denial of service attacks. But the fact is you have to patch every hole of your system, but an attacker need find only one to get into your environment. Whilst many organisations subscribe to major vendor's security alerts, these are just the tip of the security iceberg and even these are often ignored. For example, the patch for the Code Red worm was available some weeks before the worm was released. [02]
Mark has continued to be a strong supporter of our external customer's needs when called upon throughout the year.
The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entity's infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researchers will discuss cyber warfare risks, present an evaluation of established security measures, identify potential victims of identity theft, and present an examination of the security of e-commerce companies....
NNN MN an upscale retailer is one of the latest to reveal being a victim of hackers. Many Customers were affected, not just the store itself. Customers cards were being use to make unauthorized purchases. This situation put the retailer at risk of losing current or potential customers. Many individuals would question its security measures potentially bringing the company’s overall goodwill down. Neiman Marcus hack affected everyone involved, also questions the idea of how secured we are when it comes to making credit card purchases and how communication plays a major role overall in the problem.
The first thing that we must consider about Information Security is that there is not a final destination at which we can arrive. IT Security is an ongoing set of processes and activities that requires attention and expertise on a daily basis. It is important to understand that systems are not secured by themselves and it is our responsibility to maintain and improve them periodically as required. It is of vital importance to establish the appropriate mechanisms and requirements in order to support the company’s CIA triad. The following report will provide you guidance about auditing and hardening techniques applied though the 7 Domains by utilizing IT Security Best Practices.
Cyber attacks result in several losses in organizations that disrupt their routine operations, an aspect that impairs the management control system of an organization (Dutta, Lawson, & Marcinko, 2016). However, despite the enormous losses incurred by organizations over the decades as a result of the cyber attack, it is imperative to appreciate that only a few crimes are reported or give adequate detail on the damage that is experienced. Moreover, most of the cyber crime incidents go undetected for years especially in the industrial fraud of accessing company confidential information. In the case of undetected security breach, companies are disadvantaged while working in the market as their reputation is damaged and the fact that competitors gain access to their sensitive information and use it against the business. To manage the situation, it is important to appreciate the fact that there should be an effective global approach as criminals operate on an international