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Accounting Information System Breach

In: Computers and Technology

Submitted By cbiddle
Words 705
Pages 3
“On behalf of XYZ Claims Corporation, a claim has been brought forth in regards to the above account and in hopes of settling the outstanding amount of $X,XXX.00. Please contact our office to begin working on settlement negotiations.” Imagine being one of the individuals receiving the above statement in the form of a letter, stating you owe thousands of dollars, that you personally did not get the luxury of spending. How would you repay the newly collected debt? Who would you seek to help settle this? Perhaps you would go to the company that had their system breached? Companies should be held liable for losses sustained in a successful attack made on their accounting information system (AIS) by outside sources. Identity theft is defined as “the unauthorized use or attempted misuse of an existing credit card or other existing account, the misuse of personal information to open a new account or for another fraudulent purpose, or a combination of theses types of misuse”(statisticbrain). In 2013, identify theft has caused 11,571,900 $24,700,000,000 was the total financial loss attributed to identity theft in 2013 (statisticbrain). Hackers thrive on stealing an individual’s personal information and doing as they please, but what if it you information was stolen from a source you put complete faith in? Retailers store all of their customer’s information into a database known as an accounting information system (AIS). By definition, accounting in an information system, since an AIS collects, records, stores, and processes accounting and other data to produce information for decision makers (Romney & Steinbart). No one is suppose to have access to this unless authorized by the company, however, that is not always the case. Company firewalls are broken down everyday and go unnoticed for week to months, after the damage has already been done. It is the...

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