Technology and Risks
Technology and Risks
It is no coincidence we end this class discussing the same topic be began with, technology and risks.
When technology constantly evolving, it is becoming increasingly difficult to keep confidential info safe. As consumers, we protect our PC with virus protection and malware, we make sure to block our Wi-Fi to keep intruders out and of course we never share our information over the internet.
Most consumers are wary of using their credit or debit cards on the internet in fear of their information being stolen; because of this some consumers steer clear of internet transactions. Yet, these same consumers have no problem handing a credit or debit card to a stranger in a brick and mortar establishment. Somehow, consumers feel safer and secure with their information in someone else’s hands.
Data theft is not limited to consumers; there have been numerous reports of security breaches within major cooperations. It is almost impossible to think a large company can be a victim of hacking. The truth of the matter is in 2000 major companies such as H & R Block, E-Trade and Western Union all had their information systems hacked exposing the personal information of its customers. (Greenstein, 2002) In 2013, Target became the latest victim of a security breach, compromising the personal information of over 100 million customers. This breach was very costly to the company, it is estimated that the company lost over 100 million dollars, had a 46% drop in revenue and forced the CEO to step down. (Krebs, 2014) I guess one could ask the question, “Exactly how are these systems being breached?” Some may think there is a single cynical person sitting alone in the dark trying to take over the world by stealing the world’s personal information. The fact of the matter is these systems are compromised in various fashions.
Malware and Malicious Websites: Malware and malicious websites are specifically designed with viruses to sabotage a company or
It is no coincidence we end this class discussing the same topic be began with, technology and risks.
When technology constantly evolving, it is becoming increasingly difficult to keep confidential info safe. As consumers, we protect our PC with virus protection and malware, we make sure to block our Wi-Fi to keep intruders out and of course we never share our information over the internet.
Most consumers are wary of using their credit or debit cards on the internet in fear of their information being stolen; because of this some consumers steer clear of internet transactions. Yet, these same consumers have no problem handing a credit or debit card to a stranger in a brick and mortar establishment. Somehow, consumers feel safer and secure with their information in someone else’s hands.
Data theft is not limited to consumers; there have been numerous reports of security breaches within major cooperations. It is almost impossible to think a large company can be a victim of hacking. The truth of the matter is in 2000 major companies such as H & R Block, E-Trade and Western Union all had their information systems hacked exposing the personal information of its customers. (Greenstein, 2002) In 2013, Target became the latest victim of a security breach, compromising the personal information of over 100 million customers. This breach was very costly to the company, it is estimated that the company lost over 100 million dollars, had a 46% drop in revenue and forced the CEO to step down. (Krebs, 2014) I guess one could ask the question, “Exactly how are these systems being breached?” Some may think there is a single cynical person sitting alone in the dark trying to take over the world by stealing the world’s personal information. The fact of the matter is these systems are compromised in various fashions.
Malware and Malicious Websites: Malware and malicious websites are specifically designed with viruses to sabotage a company or
References: Greenstein, M., & Vasarhelyi, M. (2002). Chapter 7: Risks of Insecure Systems. In Electronic commerce: Security, risk management, and control (2nd ed.). Boston: McGraw-Hill/Irwin. Krebs, B. (2014, May 6). Krebs on Security. Retrieved March 11, 2015, from http://krebsonsecurity.com/2014/05/the-target-breach-by-the-numbers