As Trade Barriers Fall, Businesses' Exposure to Fraud Increases
- Topics:
- Strategic Planning Process
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- Barrier,
- Sales,
- Productivity,
- Litigation,
- Knowledge@Wharton,
- Fraud,
- Financial Services,
- Credit Card,
- Computer,
- Business Operations,
- ...
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- Knowledge@Wharton
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Overview: As high-profile CEOs continue to march off to court or to prison over accounting and business scandals, they serve yet another reminder that corporate fraud continues to be a concern. However, as experts note, another somewhat corporate fraud-perpetrated by individuals and directed against companies and their customers-also poses a dangerous threat. The use of computer interconnectivity by the financial services sector for customer services, such as Internet banking and electronic securities trading, and for business operations, such as clearing and settlement, has increased the degree of access to the systems that support these services. This increased access poses significant information security risks to computer systems and to the critical operations and infrastructures they support, if those systems are not properly secured. The exposure to credit card fraud is much greater than most individuals and corporations realize. Companies may safeguard their checks, but once they are released for payment, they can be scanned and counterfeited.
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Format: HTML | Date: Jan 2003 | Pages: 1
