1. People failure points : Although people do not seem to be the primary failure point, the top management could have addressed IT security as a business issue and raised security awareness among its employees. This would have made the TJX employees more vigilant in their day to day tasks and aware of the security threats to the organization. Both the internal and external auditors failed to notice the key problems with TJX systems like absence of logs, absence of network monitoring, presence of unencrypted data and retention of customer data years after it should have been purged. TJX also passed the annual on-site audits and quarterly network scans in spite of being non compliant with Payment Card Industry Data Security Standards(PCI DSS). Both the internal auditing department and …show more content…
If non conformities are found in audits, immediate remedial actions must be taken to ensure compliancy. c) Conducting security assessments of the IT setup in a timely manner to ensure that necessary security controls are in place and to act upon any recommendations for improvement. Vulnerability assessment and penetration testing are great ways to check how well the security controls are performing their functions. d) Uploading software patches and updates according to the vendors recommendations to fix any security vulnerabilities. Recommended updates can also improve the usability and performance of the software. e) Conducting security awareness trainings among the employees on a periodic basis so that they are aware of the security policy of the organization and better prepared against various threats that could target them. TJX should focus on developing a strong security culture in the organization. Banners, posters, e-mail remainders are all great ways to promote secure practices among employees like using strong passwords, proper handling of private customer data
2) Maintain critical infrastructure centers (telegraph, bridges, hospitals) that provide a situational awareness capability, actionable information about emerging trends, imminent threats, and the status of any incidents that involve
Internal Compliance Departments: Compliance teams within the management of a company have a very important role to play in managing the risk that a company is exposed to. J P Morgan should concentrate on strengthening its internal compliance departments as well. Moreover, the internal compliance team must be organized in a systematic manner to monitor all the various business divisions within the company. If the compliance department raises an alert against any action that the company is taking, that might cause exposure to potential losses or penalties, its direction and recommendations must be given the utmost priority and put to action immediately. From the point of view of internal compliance teams, not only should laws and regulations be complied to, but also the general financial health of the company must be complied with. This gives the company a two-step risk management framework, one from within the risk management department itself and another through the functioning of its compliance team. The compliance team must ensure that there are certain standards and numbers that are always maintained constantly across all the business units of the
ensure the protection of the Company's legitimate business interests, including corporate opportunities, assets and confidential information; and
Anthem is one of the United States’ largest health insurance companies. It is the largest managed health care company in the Blue Cross and Blue Shield Association. In February of 2015, hackers stole the names, social security numbers, medical IDs, physical addresses, e-mail addresses, employment information, income data, birth dates and other personal information of about 80 million Anthem and other Blue Cross and Blue Shield members and former members. It is believed to be the largest cyber-attack that has ever occurred in health care history. It has been described as a very sophisticated attack. The source of this attack is still unknown, but several reports have linked it to Chinese hackers. All the company’s product lines were affected including Anthem Blue Cross, Anthem Blue Cross and Blue Shield, and others. Anthem has 37.5 million members enrolled in its affiliated health plans and serves 68.5 million people through all its subsidiary businesses, which includes Medicaid. The CEO Joseph Swedish wrote to its members "I want to personally apologize to each of you for what has happened, as I know you expect us to protect your information. We will continue to do everything in our power to make our systems and security
This assignment looks at the importance of safeguarding and how practitioners and agencies should be involved to help prevent any risks when dealing with a vulnerable adult. The case study is about a 22 year old vulnerable adult called Andrew who has been diagnosed with autism. According to (Autism.org.uk, 2017) Autism is a complex developmental disability that usually affects children during early childhood. It is a condition that can affect communication, behavior, social interactions and how people experience and interact in the general word around them.
Security helps the organization meet its business objectives or mission by protecting its physical and financial resources, reputation, legal position, employees, and other tangible and intangible assets through the selection and application of appropriate safeguards. Businesses should establish roles and responsibilities of all personnel and staff members. However, a Chief Information Officer should be appointed to direct an organization’s day to day management of information assets. Supporting roles are performed by the service providers and include systems operations, whose personnel design and operate the computer systems. Each team member must be held accountable in ensuring all of the rules and policies are being followed, as well as, understanding their roles, responsibilities and functions. Organizations information processing systems are vulnerable to many threats that can inflict various types of damage that can result in significant losses (Harris, 2014). Losses can come from actions from trusted employees that defraud the system, outside hackers, or from careless data entry. The major threat to information protection is error and omissions that data entry personnel, users, system operators and programmers make. To better protect business information resources, organizations should conduct a risk analysis to see what
Cisco Systems, Inc. is a leader in networking for the internet, they develop hardware, software, and services to help create internet solutions that make internet networks possible. Cisco was founded in 1984 by a small group of computer scientists from Stanford University. They are a worldwide company with headquarters in: San Jose, California, Amsterdam Netherlands, and Singapore. Currently, they employ approximately 74,000 people throughout the world. Cisco operates on a set of values which include: change the world, intensely focus on customers, make innovation happen, win together, respect and care for each other, and always do the right thing. They show these values through global involvement in education, community, and philanthropic efforts. (Cisco, 2004)
The oversight responsibilities of the board, the CAE lacking of expertise or broad understanding of financial controls and responsibilities, and the understaffed internal audit functions lacking of independence and direct access to the board of directors contributed to the absence of internal controls. To begin with, the board should be retrained to achieve financial literacy to review financial reporting. Other than attending formal meetings, the board of directors should be more involved with the management. For the Audit Committee, the two members who were recruited as acquaintances to Brennahan need be replaced with experts who are more sufficiently knowledgeable about accounting rules beyond merely “financially literate”. Furthermore, the internal audit functions need to expand with different expertise commensurate with the expanded activities of the organization, testing financial reporting rather than internal controls from an operational perspective. The CAE should be more independent and proactive to execute audit plans, instead of following orders from the CFO, and initiate a direct and efficient communication between internal audit and audit
Solution: The organization should put in place a competent incident response team, continuously update their security
Albert Gonzalez broke into TJX 's systems and stole visa and debit card numbers initially accessed the organization 's
Auditing has been the backbone of the complicated business world and has always changed with the times. As the business world grew strong, auditors’ roles grew more important. The auditors’ job became more difficult as the accounting principles changed. It also became easier with the use of internal controls, which introduced the need for testing, not a complete audit. Scandals and stock market crashes made auditors aware of deficiencies in auditing, and the auditing community was always quick to fix those deficiencies. Computers played an important role of changing the way audits were performed and also brought along some difficulties.
The human factor of physical security consists of the people who own the property being protected, the people who work at the property or those that visit the property/protected area, and the security personnel guarding the property.
The agreement between the company and I was to advice the company management toward adopting the best network management plan and security plan. Through the study, I carried out in the firm I was required to evaluate the firm requirement in term of network planning and making sure that the firm has proper mechanism to secure its systems against malicious damage. Considering that, the management personnel have background in IT therefore; they required me to give an expert opinion on the best ways in which they can adopt the network management and the security plan. They required me to evaluate firm needs and what the IT world would offer the firm to enable them to lay down plans for the network and security in the firm.
The first thing that we must consider about Information Security is that there is not a final destination at which we can arrive. IT Security is an ongoing set of processes and activities that requires attention and expertise on a daily basis. It is important to understand that systems are not secured by themselves and it is our responsibility to maintain and improve them periodically as required. It is of vital importance to establish the appropriate mechanisms and requirements in order to support the company’s CIA triad. The following report will provide you guidance about auditing and hardening techniques applied though the 7 Domains by utilizing IT Security Best Practices.
Overall, the company is having ineffective controls regarding different departments and in the whole organization. An effective internal audit department should be established within the organization which should test the effectiveness of these controls on regular basis and make it sure that all controls are working effectively and efficiently with the different departments of the organization. Also the Internal auditor should implement the most effective processes and measures to prevent and detect the fraud, corruption and non compliance with the laws and regulations in the organization. Establishment of internal audit committee would be helpful in this regard which comprises of executive and non executive directors.