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Finance & Accounting
Pages 3 (753 words)
Advanced technology in the computer industry has come with increased insecurity of operating them. More than before, companies find themselves in a fix after their confidential data leaks to persons outside the company. …
While some hackers will do it for fun and for exploration, others are malicious people who will defraud companies of substantial amounts of money. This paper examines crucial steps that a Flatyton Electronics Company can take after their data is stolen, how it can communicate with its customers, and ways to curb this in future.
Flayton has an obligation to protect its customer’s private data. For the last 25 years, Flayton has build a big business from trust customers has on the company. Regular customers pay their bills using credit cards, master cards and other bankcards. According to federal trade commission website (FTC) it is impossible to be in business and not hold personal identifying information. Such information includes credit card numbers, names and addresses, business partners, and other account numbers (“FTC,” N.d). There is an implied obligation of confidentiality to the stores and their staff. It is the duty of the management of a store to make sure that customer’s information does not leak to fraudulent third parties. Therefore, Flayton Electronics’ management had an obligation to make sure that it employs credible employees who will keep customers information confidential.
Additionally, it is an obligation of Flayton to make sure that its firewall remains working throughout to avoid hacking incidences. ...
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