Companie´s Negligence Regarding Technology Breeches

Modern day technology has changed the ways in which people purchase products and services. In the twenty-first century, all business has pretty much converted over to the electronic payment systems. One swipe of a credit card and immediately the data transmits through a gateway onto the payee 's bank processing link. However, during the disbursement of data is when more than forty-three million people’s debt or credit card information becomes promised. May of these computer programs assume the title of Hackers. A hacker is one who installs malicious software onto individuals compter’s or computers networks. In hopes of gaining unauthorized access to sensitive information on the victim 's computer.

During the last Christmas season, Target announced that their data security was breached. According to David Lazarus in Los Angeles Times, Target stated that roughly 110 million customers’ information was illegally taken from their database. The information included their credit/debit card info, phone numbers, and email addresses. Target is one of the most popular grocery stores in the U.S.; they have a substantial amount of consumers. Because of this incident, consumers' trusts for the store have been decreasing. Worrying about losing its customers, the company offered a free year of credit monitoring and identity-theft protection, so the customers will feel more secure. Not only Target, some other large retailers also faced the same issues. They want their customers to trust that the companies can protect private data. However, should we not worry? Data breaches have been going on for about a decade, but we have not seriously thought about the issue. In order to protect people’s privacy, the federal government should make new laws concerning companies’ handling of customer information.

Companies have an obligation to protect their customer’s information, which goes beyond that of complying with state and federal regulations. If the company loses the trust of their customers, they risk the chance of damaging

In Herbert B. Dixon Jr.’s “Is Hacking the New Normal?”, the author is trying to convince the world to pay better attention to the technology in their lives. Dixon is addressing why he believes that the new “normal” is to live in a society where all technology is hacked and vulnerable all the time. Dixon creates the implied message that everything is a target, and should be handled as if it is a primary target of hacker’s attention and time, because it just might be. Dixon’s ideas are backed by statistics given by Peter Katel in his article “Identity Theft”, regarding the number of people that are attacked and how hard the economy is hit by the breach in security. Thus, showing just how many are attacked and giving validity to Dixon’s ideas about sources of information breaches. This source brings to light other sources of potential security breaches, and gives a new perspective regarding just “accepting” this new era. Dixon gives valid ideas on how to increase your safety but ultimately describes that nothing is completely safe.

One of the largest examples of a technological privacy violation in history was the Target data breach of 2013. The Target Corporation is one of the leading innovators of the retail industry. They introduced the concept of designer partnerships, making them one of the leading clothing stores in the country (Corporate Target 1). Unfortunately, the company was targeted by Russian hackers shortly before the Christmas of 2013. In this hack, personal information, including customer names, mailing addresses, phone numbers, email addresses and credit card information, of seventy million people was stolen and used for fraud (Forbes 1). This has raised concerns over how well the company can ensure that their consumer’s privacy is protected.

A recent increase in large scale data breaches has exposed a multitude of cybersecurity vulnerabilities that pose a definite risk to consumers (Lorio, 2017). In some cases, a data breach can distress an establishment so much that other organizations experience a backlash from the repercussions (Kosseff, 2011). The Equifax data breach of 2017 is a perfect example of this kind of event as it caused an overwhelming economic repercussion that affected other major corporations and more than 143 million credit card customers worldwide (Janakiraman, Lin, & Rishika, 2018).

It is common for individuals to share their personal information to a retailer when purchasing an item. However, when that information becomes the stolen property of a hacker, consequences of the theft can be insurmountable (Lorio, 2017). Data breaches of this nature are a constant reminder of the failed organizational cybersecurity basics in practice today (West, 2017). With consumer-based data breaches on the rise, it is imperative that people are aware of the negative implications that could transpire when their personal information is stolen in an

Every few weeks, we learn about another data breach. It 's the privacy world 's version of an oil spill. A hacker breaks into a company and grabs a database of our personal details. They 're sold on the black market, and the exposure puts us at higher risk of fraud and identity theft. Information protection is something you do, not something you buy. It is not a policy to put in place and forget. Information security requires a strong process and effective technologies, all based on a sound understanding of the business the organization is in and how it performs that business. These days, criminal hacking is a business, everything that is done has a chain linked to real dollars. And hackers are looking for the shortest chain.

Each day, millions of Americans make online purchases and millions of dollars are spent through e-commerce. Whether it is clothes, books, videos, hotels, flights or even cars, nearly anything can be bought online. It is important for consumers to be assured of their identity protection and have peace of mind when ordering online. So when online retailers do not take the proper precautions for safeguarding their customer’s confidential information, how should they be held accountable? Does the Federal Trade Commission have the authority to reprimand companies that expose themselves to a threatening data breach? These are the principle questions that are being considered in the case of FTC v. Wyndham Worldwide Corp. This case has greatly impacted the future of e-commerce and has decided how companies will be held responsible for upholding the highest security standards and protecting consumer information. As Christians, we are called to not only look after our own interests, but also the interests of others (Phillipians 2:4, NIV). I will examine the holding of this case to determine how business managers can best steward the information of customers and employees to look after their best interests and protect them from harm.

A recent article by David Pitt of the Associated Press discusses how a Minnesota court is now re-reviewing the 10 million dollar settlement Target made back in 2015 (Pitt, 2017). The article states that the breach ultimately affected 100 million customers of Target and that has been determined that consumers are being left with no reimbursement for the breach settlement after legal fees were accessed (Pitt, 2017). Per documents accessed from the settlement trial, 41.9 Million consumers at Target in 2013 had financial information stolen, while 60 million consumers had to deal with the fallout of personal information being compromised (Pitt, 2017). Pitt (2017) also states that an attorney for Target customers, openly acknowledged in court that 99 percent of the customers included in the class-action lawsuit will get no compensation from the settlement. (2017). A breach of this size can put into perspective the importance of stronger cyber security and up to date systems for companies. The real issue for consumers, is that over 3 years after the Target breach occurred, those consumers may still not receive any reimbursement for their stolen information and fraud that the breach caused which can further reinforce why cyber security is so

An issue is described as a matter that is in dispute where unique perspectives are held in regards to what should be done (Sexty, 2017). One of the main issues that still plagues TD is data security and privacy. As a financial institution that heavily depends on telecommunication, the impact of a data breach could potentially be catastrophic. Examples of a negative impact include unintentional releases of confidential information or financial loss all deteriorate the public trust and sustainability of the bank (Corporate Responsibility, n.d.). However, it is evident that disaster can strike at any time. No matter how much security is implemented, a hacker just needs to find one way through and that is exactly what happened to a credit company called Equifax. Hackers were able to “break an Equifax online tool and access personal data of more than 143 million customers” (Wattles and Larson, 2017).

All the consumers affected were also made vulnerable to subsequent identity theft given malicious attackers stole their personal data. Equifax was directly affected since its stock began to plunge immediately the news was made public. Additionally, the corporate governance of the company was tarnished given three Equifax executives sold shares worth around $2 million days after the breach discovery, and the “retiring” of the chief security information officers is questionable (Surane & Melin, 2017). Also, the company was exposed to litigations with some lobbyists and interest groups pushing regulators to hold Equifax accountable for the negligence and poor treatment of affected consumers. The proposed new data security laws will present a greater burden to other corporations. Two such laws are the Promoting Responsible Oversight of Transactions and Examinations of Credit Technology (PROTECT), and Freedom From Equifax Exploitation (FREE) will attract more government scrutiny and limit the type of personal data that companies can collect from customers (Alperan, Carter, & Sofio, 2017).

In the last decade it’s amazing how technology has advanced over the years and will continue to advance for many years to come. Every year there is a new cell phone from Apple or Samsung, with new features that make our lives more convenient. From faster software to higher picture quality and so on. I am unable to recall the last time I used a camera to take pictures or went to the bank to deposit a check. Technology advances every day and many can’t wait to see what’s next to come. But with new technology comes greater risk for violations of privacy. In the following research paper I will discuss the types of security breaches and the cost associated with these breaches that businesses around the world face on a daily basis.

Moreover, there are laws and organizations that are designed to try and defend the consumer in instances involving large corporations such as the F.T.C, which initiated an investigation but could not heavily fine the institution because it was a first offense, and the C.F.P.B, that could not undergo prosecution of Equifax because of their sole focus on the quality and/or deceit of products being sold in the market. Even if regulators could open up a case for Equifax, executives would find a way to evade the situation by convincing the court that the case needs to be tried as individuals and not as a whole enterprise(Henning). The implementing of organizations like these is supposed to ensure the safety of the consumer, but evidently, that’s a goal that is currently not being fulfilled (Sotto and Logan). Incidents like the Equifax security breach is just one of many that demonstrate that the administration holds an insufficient amount of power to successfully regulate the way that members of oligopolies handle their customers’ personal information.

One of the largest breaches occurred at Yahoo in 2015 and 2016 which compromised over 1 billion user’s personal information including myself. It was recently released that every single customer account was hacked which equated to over 3 billion accounts including email, Tumblr, Fantasy, and Flickr. The breach included account holders names, email addresses and passwords. If asked to enact a law or guideline for an aspect of Information System use and regulation, Companies with access to customers sensitive information would be required to have Cyber Security Experts as a part of their organization who are required