associate screening, insider employee theft, and failure to update information security methods (Matwyshyn, 2009, p. 584). A breach incident is the unauthorized access to confidential or sensitive information which can result in the compromise or probable compromise of this data. This Information which could be confidential, protected, or sensitive can include personal identity information, health information, intellectual property or professional trade secrets of an organization, and financial data of the organization, customers or individuals. As the use of technology to collect, filter, process, and distribute data becomes more increased so do breaches.
Data breaches are increasing among businesses and individuals with considerable financial …show more content…
The Gramm-Leach-Bliley Act (GLB) requires financial organizations to reveal their confidentiality policies, define how they share nonpublic personal information and how their customers can request that their information not be shared with third parties. Payment Card Industry Data Security Standard (PCI DSS) is a set of business standards mandated for any organizations who handle credit, debit and specialty payment cards. The overall purpose of this standard is to reduce credit card fraud. The Sarbanes-Oxley Act (SOX) of 2002 was enacted due to the Enron and WorldCom financial scandals. This act protects stockholders and the public from accounting errors or fraud practices. It forces Chief Executive Officers (CEO) and Chief Financial Officers (CFO) to be held personally accountable for the comprehensiveness and accuracy of any financial reports and recorded documentation. Although these laws require transparency and different levels of security for each organization they govern, they are all required to report a data breach to a law enforcement agency. Investigations into breaches could lead to possible apprehension and incarceration of the individual or individuals responsible for the attack (Whitman & Mattord, 2014, pp. …show more content…
Since 1973, this survey has been the source for gathering information concerning criminal victimization. The survey uses information gathered annually from a random survey of roughly 90,000 families interviewed twice a year. Data is based on the regularity, type of crime, and the impact the crime has left on the victim. The Bureau of Justice Statistics uses this information to track and estimate the likelihood of a crime. Prior to 2004 the survey failed to include questions about identity theft. The first year to have statistical data on identity theft was 2005 which showed that 6.4 million residents were victims of identity theft to some extent (Bureau of Justice Statistics (BJS) Data Collection,
Data breaches are increasing among businesses and individuals with considerable financial …show more content…
The Gramm-Leach-Bliley Act (GLB) requires financial organizations to reveal their confidentiality policies, define how they share nonpublic personal information and how their customers can request that their information not be shared with third parties. Payment Card Industry Data Security Standard (PCI DSS) is a set of business standards mandated for any organizations who handle credit, debit and specialty payment cards. The overall purpose of this standard is to reduce credit card fraud. The Sarbanes-Oxley Act (SOX) of 2002 was enacted due to the Enron and WorldCom financial scandals. This act protects stockholders and the public from accounting errors or fraud practices. It forces Chief Executive Officers (CEO) and Chief Financial Officers (CFO) to be held personally accountable for the comprehensiveness and accuracy of any financial reports and recorded documentation. Although these laws require transparency and different levels of security for each organization they govern, they are all required to report a data breach to a law enforcement agency. Investigations into breaches could lead to possible apprehension and incarceration of the individual or individuals responsible for the attack (Whitman & Mattord, 2014, pp. …show more content…
Since 1973, this survey has been the source for gathering information concerning criminal victimization. The survey uses information gathered annually from a random survey of roughly 90,000 families interviewed twice a year. Data is based on the regularity, type of crime, and the impact the crime has left on the victim. The Bureau of Justice Statistics uses this information to track and estimate the likelihood of a crime. Prior to 2004 the survey failed to include questions about identity theft. The first year to have statistical data on identity theft was 2005 which showed that 6.4 million residents were victims of identity theft to some extent (Bureau of Justice Statistics (BJS) Data Collection,