Security for customer data; fraud detection, forensic accounting
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Write a paper in which you:
1) Evaluate the obligation Flayton Electronics has to its customers to protect their private data.
2) If you were the CEO, develop the communication strategy you would take to notify the customers of the potential security breach.
3) Determine the extent to which Flayton Electronics' brand was damaged by the security breach.
4) Recommend procedures that Flayton Electronics should take to prevent future security breaches.
Your assignment must:
Be typed, double-spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.
The specific course learning outcomes associated with this assignment are:
Analyze the processes related to fraud detection, including the responsibilities of management and auditors, assessing the organizational environment, and detecting and investigating fraudulent activity.
Use technology and information resources to research issues in forensic accounting.
Write clearly and concisely about forensic accounting issues using proper writing mechanics.
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Solution Summary
Security for customer data, fraud detection and forensic accounting is examined.
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Evaluation of the obligation Flayton Electronics has to its customers in the act of protecting their private data:
The client information has to be kept secure at all times. This will protect the operations of the company from being slowed down due to bad public image. The Flayton Electronic had the obligation of protecting the information of the clients so that the needs of the clients can be met without any controversies that would compromise their own personal records. This deems that the organization ought to protect their entire client base from any potential exposure. Sufficient protection has to be offered to the credit card even though they are still protected by the by their respective banks. The act of protecting the private data of the company clients would salvage the image of the company. This protection of the data can be undertaken through the utilization of sophisticated analysis tools that would detect any unusual patterns in Flayton Electronics before they emerged (Stopping Inside, 2006).
In the commencement period when the company was entering into a contract with the esteemed clients, the information of the customers was to be protected from other external entities. It is therefore the right of the organization to ensure that records of the clients are kept safely. The anticipated security breach envisioned would have been looked into to prevent the organization from the breach which has caused the company a lot great profits. The illegitimate use of the clients' data is an offence committed to them without their consent. To counter this problem the verification of the credit card transaction has to be made to the bank during the time of purchase so that company can ascertain the validity of the purchase.
Communication Strategy That I Would Use To Notify the Customers about the Potential Security Breach:
If was the CEO of the company, after receiving the alert call from the vice president for loss prevention of the company, I would at that moment call up the personnel of the organization so that an effective communication strategy would be made. I will ensure that the ...
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