Financial Sabotage Has Taken Place Essay

A direct cyberattack in 2014 to JPMorgan Chase caused a compromised of accounts effecting a total of 76 million households and seven million small businesses. We are clearly, in times when consumer confidence in the digital operations of corporate America is on shaky ground. In directly, banking is taking the brunt of the fallout but major stores also have breaches which of course are directly related to their financial data. Store like, Target, Home Depot and a number of other retailers have experienced major data breaches. 40 million cardholders and 70 million others were compromised at Target alone in 2013 and an attack at Home Depot in September, 2013 affected 56 million cardholders.

Throughout the late 19th century, several men such as John Rockefeller, Andrew Carnegie, and Cornelius Vanderbilt built empires in railroad construction, coal mining, and the oil industry. These industrial leaders helped the economy flourish and created a leading industrial power in the world. After a while, critics began to question their power and objective. Critics began to call them “robber barons” for their selfish and corrupted techniques. While they took advantage of careless government regulation and no income tax, they generated huge business that benefited the country.

As we have seen throughout the county, if the proper “tone from the top” is not emphasized or proper policies/procedures implemented and adhered to throughout, the company’s reputation, assets, stock values could be harmed tremendously. Some smaller enterprises might not be able to sustain a cyberattack and

As organizations utilize software and the internet together to make transactions and complete accounting functions, the threat of cybercrime comes into play. “Cyber crime against private business is growing, and consuming a larger share of Federal Bureau of Investigation resources than ever before…” (Kelly, M., & 42 staff, 2011)

Throughout our lifetime many successful leaders have been recognized in the United States. Without their consistent amount of effort some advancements we have in today’s society wouldn’t have taken place. These leaders are known to be as captain of industry. Besides there being advocates who benefited America there have been some other prospects who have done the opposite which portrayed them to being rude and self-centered. Prospects who fit under this category are known to be as robber barons.

This case study, written in 2009 is not the only case where a major data breach has occurred within organizations. In the late 2011 Sony’s PlayStation Network (PSN) was breached impacting up to 77 million user’s accounts including data on names, address and possibly credit card details. In late 2013 Target had a cyber-attack that compromised a large quantity of its data and had 110 million accounts compromised. Finally in September 2014 Apple had their iCloud server breached by hacking that compromised all the users of the online server. These occurrences still have some unanswered questions and several experts have yet to decipher the actual reason as to why the security breach occurred.

Gatzlaff, K. M., & McCullough, K. A. (2010). The effect of data breaches on shareholder wealth. Risk Management and Insurance Review, 13(1), 61-83.

Threat modeling is the process of optimizing an organizations’ security of their network by finding vulnerabilities in that system, and then deploying countermeasures to protect against those threats should they happen in the future. If a company wants to know what vulnerabilities they may have then threat modeling is an excellent way of determining these threats. An individual threat is when an event occurs that has a negative impact on an organization’s daily operations. (Rouse, 2006). These negative impacts can manifest themselves in many ways from damaging the reputation of that organization to interrupting the functions of that organization. These threats can be in the form of destruction or stealing sensitive data, cracking of weak passwords, malware, phishing, or other scams and frauds. The goal of this paper is to address how the organizations code of ethics and security policies apply, what specific security policies can be deployed, and to identify the impact of asset security standards and governance. I chose Northrop Grumman as the focus of my paper

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).

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).

Because we live in a hugely digitally interconnected world and one of the biggest threats is a relentless and dynamic environment that puts an organizations digital assets at risk to some degree to cyber-criminals, nation-states or the exposure if individual privacy online. Global organizations need to understand that risk that their digital assets face each moment in the supply chain daily. As the globally interconnected cybercriminal marketplace disrupts the enterprise marketplace to the tune of approximately four billion dollars each year, and that is about twice as much as expended on the protection of information

The potential of violations can come from numerous sources (Lawrence & Weber, 2011) (Consumer Information). Recently Equifax had a data breach of their customer’s personal information. The hackers accessed the names, social security numbers, birthdates, and addresses of 142 million American consumers (Consumer Information). This is frightening and happens more often that we think. According to PricewaterhouseCoopers executive, ”Cybercrime has emerged as a formidable threat. Over the years millions have fallen victim to theses attacks. In a survey of 583 U.S. companies, 90 percent said that hackers breached their company’s computers over the last twelve months (Lawrence & Weber, 2011). Cyber crimes occur when hackers attempt to damage or destroy a computer network or system of company’s data. Criminals will use one of the most harmful systems around. This system is called a zombie. A zombie is

When firms like Home Depot and Target invests a lot of financial and non-financial resources to curb the menace, one is left to wonder why such vices continues to affect them and their clients. Hacking of companies in the United States have reached a sky high and notable names in the industry have been affected by the vice. The firms like Home Depot, JPMorgan, Michael, Nieman Marcus and Target, have had its share of this vice. The United States Postal Services have not been left behind also, because it was also affected by the hackers ( 'Cybercrime a

The Internet of Things, or as many people like to call it IoT, is a wide growing industry with technology that is advancing each and every day. Physical objects are becoming mapped with technology that us humans will eventually come in contact with and interact over the internet. The Information Technology world feeds off of this industry because the internet is storing this data that we use, and the IT industry just comprehends it. With more physical objects being mapped in the real world, the IT industry will need more people to help control all of the systems and data that is being used. An example of this is if a company lacked a certain product then that problem would be reported to the company and further deliveries would be conducted (Weber, Pg. 23) This fast growing industry is remarkable, and the developments of the legal, social, ethical, and security, can be just as astounding.

Their operations are very slick and swift such that stolen data is quickly exploited within seconds of being submitted by unsuspecting victims. Since 2005, over 400,000 databases have been compromised since 2005, and thousands more have gone unnoticed or reported. About 40 percent of those involved in IT security have no fixed figure on the number of hackings their companies have experienced. One of the rapidly increasing areas of ecommerce is in the use of web-based applications to replace traditional over-the counter transactions. Hackers have expectedly, latched on. According to a study by Gartner, over 75 percent of Internet security breaches are due to flaws and loop holes in software. The reason for this is that, applications are normally designed and put together quickly to get the system running, and no time is spend analyzing and assessing security implications. As computer hackers continue to step up their operations in line with technology advancements, the securities and future industry recorded a 150 percent increase in the number of suspicious activities detected by their systems. During the same time, research carried out at the University of Maryland indicated that a computer connected to the Internet was subject to an attempted hack every 40 seconds. The battle between ecommerce websites and consumers wages on, according to an independent analyst, ‘consumers are losing a tug of war.’ Simon Smelt, an economist who runs a survey company