Being of a managerial post in the XYZ organization, it is my foremost duty to follow all the regulation formed by the organization and secure the company from arriving threats; which can harm the company’s profile in the market. One such incident which deflated the positive growth of the country and also impacted on my individual performance in the organization is the cyber-crime. In today’s world cyber-crime is efficiently growing most of the companies use the information technology in storing and retrieving the critical information of the information. Resulting to which many risks are connected with using the new innovative technology (Aggarwal, Arora, & Ghai 2014).
Especially in e-commerce trading business, the majority of the work is done on the websites and portal, due to which the cyber-crime risk increases. In my XYZ organization, the information of the customers, their order details, and transaction receipts are stored on the website only whereas the price sensitive information, related to the products and services which shall not be leaked to the customers are also stored on the portal online. Thus it is easily known that any change in the online security system can result in a huge loss for the organization along with defamation of the company as well (Rotich, et. al., 2014).
The incident which took place in the organization is that; the official website of the company was somehow hacked by some unethical hacker. Through this cyber-crime, the hacker succeeded in retrieving the information of the customers of the company and all other price sensitive information which were required by the company in managing the business activities. The hacker took all the personal information records of the visitors and customers of the company (like postal address, payment details, password, user Id etc.). The stored credentials on the website were also hacked and the hacker gain access to the data of the company. Also, the information about the products and services posted on the website were also tampered and theft, resulting in confusion for the customer to make transaction with the company. The major crime which the hacker made was that they changed the bank account details of the company with theirs. Resulting to which, all the transactions and its receipts were made to the account of the hacker not the company (Ablon, Libicki, & Golay 2014).
With this effect, the company suffered major loss of income, data of company and also the customers of the company also became dissatisfied due to this effect. Many customers were made fake call due to leakage of price sensitive information. On my part being a manager, it became very difficult to address the problems of the customers along with analyzing the person liable for the crime. The customer growth decreased resulting in loss for the company, along with which the employee turnover also increased; as the employee felt that they might get trapped in the attack. The company was attracted by many problems at the same time due to which the financial statement of the company got affected. Being a manager of the company I was held responsible for the devaluation of the financial statements of the company. Furthermore, the hacker behind the attack was also not identified. I was held accountable for the cyber-crime and deviations in the management system (Ali, et., 2016).
The XYZ Company was in a state of crisis where all the customers and employees were leaving the organization. Along with which the company was liable to several penalties. Besides this, the hacker behind the issue was still unknown. The company needed to compensate for the problems of its customers along with which it was also accountable to its stakeholders for the devaluation of financial statement and defamation of the image of the company (Williams, & Levi 2017).
To cope up with the situation of cyber-crime, the company along with employees took the following steps responsibly:
Concluding to the above report, the XYZ company face the cyber-crime due to which all the financial and price sensitive information of the company and its customers was theft and misused. Further the company took preventive actions to cope up with the situation and manage to keep the interest of stakeholders in the business only. Thus, the company initiates strict action plan under the surveillance of manager so that the company doesn’t face the cyber-crime crisis again. Also, all the legal and governance regulations complied in order to avoid penalties.
Ablon, L., Libicki, M.C. & Golay, A.A., 2014. Markets for cybercrime tools and stolen data: Hackers' bazaar. Rand Corporation.
Aggarwal, P., Arora, P. & Ghai, R., 2014. Review on cyber crime and security. International Journal of Research in Engineering and Applied Sciences, 2(1), pp.48-51.
Ali, N.I., Samsuri, S., Sadry, M., Brohi, I.A. & Shah, A., 2016, November. Online Shopping Satisfaction in Malaysia: A Framework for Security, Trust and Cybercrime. In Information and Communication Technology for The Muslim World (ICT4M), 2016 6th International Conference on (pp. 194-198). IEEE.
An Australian Government initiative, 2017, ACORN, viewed on august 4, 2017 from https://www.acorn.gov.au/
McGregor, J., 2014, The Top 5 Most Brutal Cyber Attacks Of 2014 So Far, viewed on august 4, 2017 from https://www.forbes.com/sites/jaymcgregor/2014/07/28/the-top-5-most-brutal-cyber-attacks-of-2014-so-far/#486ba02b134d
Morris, C., 2016, Digital warfare heats up, viewed on august 4, 2017 from https://www.cnbc.com/2016/07/07/10-high-profile-cyberhacks-still-impacting-consumers-today.html#slide=1
Parliament of Australia, 2017, House of Representative Committees, viewed on august 4, 2017 from https://www.aph.gov.au/parliamentary_business/committees/house_of_representatives_committees?url=coms/cybercrime/report/chapter5.htm
Rotich, E.K., Metto, S.K., Siele, L. & Muketha, G.M., 2014. A Survey on Cybercrime Perpetration and Prevention: A Review and Model for Cybercrime Prevention. European Journal of Science and Engineering, 2(1), pp.13-28.
Williams, M.L. & Levi, M., 2017. Cybercrime prevention. Handbook of Crime Prevention and Community Safety, p.454.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2019). Information Security Assessment. Retrieved from https://myassignmenthelp.com/free-samples/information-security-assessment.
"Information Security Assessment." My Assignment Help, 2019, https://myassignmenthelp.com/free-samples/information-security-assessment.
My Assignment Help (2019) Information Security Assessment [Online]. Available from: https://myassignmenthelp.com/free-samples/information-security-assessment
[Accessed 24 January 2021].
My Assignment Help. 'Information Security Assessment' (My Assignment Help, 2019) <https://myassignmenthelp.com/free-samples/information-security-assessment> accessed 24 January 2021.
My Assignment Help. Information Security Assessment [Internet]. My Assignment Help. 2019 [cited 24 January 2021]. Available from: https://myassignmenthelp.com/free-samples/information-security-assessment.
MyAssignmenthelp.com is one of the noted service providers that deliver essay help. We provide tailored essay assistance to make sure that student gets online essay help exactly in the way they want it to be written. We at MyAssigemnthelp.com have built teams of consultants, who readily attend every query related to help me writing my essay. We provide essay writing help in forms of tips and steps in order o assist students with tough essay assignments.
Answer Annotated Bibliography Article 1 Citation Lu, T. H., Lin, H. C., Chen, R. R., & Chen, Y. L. (2013). Motion-Sensing Based Management System for Smart Context-Awareness Rehabilitation Healthcare. Advances in Internet of Things, 3(02), 1. Summary This paper is completely based on the motion sensing based management process and in which the author explained different balance exercis...
Read MoreAnswer Reflective journal The paper will evaluate different facts regarding why the communication skills is consideredas being one of the difficult processes especially for people from different cultures. As I belong to a different country which means a different culture, language, and a different living style therefore,I have facedcommunication problems during the first year of my college in Dublin. Due to this problem, I was unable to make ...
Read MoreAnswer: Importance of the project Business management is a set of doable that must be performed before initiating the project for achieving better results. This report will discuss about issues and problems that Coca Cola faces while performing business management. This report will also discuss about the opportunities Coca Cola will enjoy during their expansion. SMART objectives of Coca Cola is also discussed in this report. SMA...
Read MoreAnswer: Introduction 3D printing refers to the process of creating 3D solid objects from digital files. The development of a 3D printed object is usually obtained by use of the additive process. In this process an object is developed by laying down successive layers of material until the object is created. All this layers can be seen as individual thinly sliced horizontal cross-section of the eventual object. How 3D printer works The proces...
Read MoreAnswer: This Assessment Booklet provides you with information and your assessment tasks for this unit. A requirement of your qualification, from which the unit of competence is taken, is the application of the concepts you have been learning.The assessment activities are an important part of your course as they provide an opportunity to apply what you have been learning and they give both you and your trainer feedback on your progress. ...
Read MoreJust share requirement and get customized Solution.
Orders
Overall Rating
Experts
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat. If you are unable to calculate word count online, ask our customer executives.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
I was very satisfied with the expert\'s work. I would recommend this site for anyone having trouble with an assignment or trouble meeting a deadline.
Australia
Will use again, sometimes I have issues getting the creative part of writing going and love being able to reach out to help with drafts
Australia
The best way to paraphrase is to change every few words in the sentence or paragraph I want to use in my assignment.
Australia
good and excellent I am satisfied with your work. All the work done on time. Experts are good.
Australia