Case Study 3: Boss, I Think Someone Stole Our Customer Data
ACC 571 Forensic Accounting
Evaluate the obligation Flayton Electronics has to its customers to protect their private data.
All client data needs to be kept secure all of the time. Doing this helps to protect company operations from being slowing down because the firm looks bad in the eyes of the public. Flayton Electronic has an obligation to protect all client information so that their needs are met without and drama or dilemmas. The firm does not want to have an instance on their hands where personal client data or company records were compromised.
Flayton Electronic needs to protect the complete client base from any type of impending exposure. Adequate protection should be offered with the credit card despite the fact that the card is also covered by Flayton Electronics individual banks. The action of shielding the confidential data of clients would reclaim the representation of the company. Securing date can be protection of the data is made possible through use of refined examination tools that would identify any abnormal patterns before they had the chance to surface.
In the beginning stages when the business was entering into an agreement with well-regarded clients, the customer data was to be confined from other outside entities. It is the duty of Flayton Electronics to ensure the client records are kept safe. An envisioned security breach might have been looked into to prevent the firm from losing their profits. Illegal use of any client information is considered an offense committed against them without their consent. To offset this problem, authentication of credit card transaction needs to be given to the bank during
the time of procurement so Flayton Electronics can determine the legitimacy of the purchase.