Posts Tagged: cyber security

Another Big Cyberattack

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Cost Accounting, Financial Accounting, Fraud Accounting, Managerial Accounting, Uncategorized.

According to the New York Times, hundreds of businesses around the world are grappling with potential cybersecurity vulnerabilities after a software provider to more than 40,000 organizations has been the victim of a “sophisticated cyberattack.” Questions: What types of organizations in Sweden have been hit? What is the name of the software company that has… Read more »

Data Breach at McDonald’s

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Behavioral and Social Issues Related to Accounting, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized, Video Updates.

According to CNN, McDonald’s is the latest high-profile company to be affected by a data breach, leading to the exposure of private information of customers and employees in South Korea and Taiwan. Questions: What type of data was accessed? What does McDonald’s credit for finding the breach? Did the company experience a data breach in the U.S.? Source:… Read more »

Ransomware Update

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, IFRS, Intermediate Accounting, Managerial Accounting, Uncategorized.

According to Techrepublic.com, cybercriminals have attacked hospitals and other healthcare organizations with double-extortion ransomware attacks during the COVID pandemic. Questions: What is a double-extortion ransomware attack and how many different ransomware variants are now using the double-extortion plot? Why are cybercriminals focusing on hospitals and other healthcare organizations with these even bolder types of attacks?… Read more »

Cyber Security Breaches increase 300 percent for CPAs during Pandemic

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Uncategorized.

With many accounting practices rushing to provide access for remote employees and clients (without fully understanding security implementations), cyberattacks on CPA practices of all sizes has increased 300 percent during the COVID pandemic. Questions: What do the cybercrimals do as part of a ransomware attack? Why are firewalls and antivirus software no longer enough to… Read more »

Fraudsters Never Sleep

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, Managerial Accounting, Uncategorized.

While retailers want shoppers to pick up online orders in stores in order to save on shipping costs, Buzz Feed notes that this new method has led to an increase in fraudsters trying to steal orders. Questions: 1. How many more shoppers chose to buy purchases online and pick them up in stores during the… Read more »

What would you do?

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Income Taxes, Intermediate Accounting, Managerial Accounting.

Tens of thousands of computer users around the world made the decision, to refuse to pay the anonymous hackers behind the ransomware attack known as WannaCry. The attackers had demanded that individuals pay up to $600 by Friday to regain control of their machines or face losing their data. Questions: 1. At the writing of… Read more »

What a Heist!

Posted by & filed under Accounting Information Systems, Accounting Principles, Advanced Accounting, All Articles, Auditing, Cost Accounting, Ethical Dilemma, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting.

Swift — the Society for Worldwide Interbank Financial Telecommunication — is billed as a supersecure system that banks use to authorize payments from one account to another. However, last week, Swift announced that hackers had captured $81 million from Bangladesh’s central bank in February and that other similar heists have been attempted. Questions: 1. According… Read more »

So was it a good idea to sell out your customers’ trust?

Posted by & filed under Accounting Information Systems, Accounting Principles, Auditing, Cost Accounting, Financial Accounting, Fraud Accounting, Intermediate Accounting, International Accounting, Managerial Accounting, Video Updates.

When Lenovo preinstalled Superfish adware on its laptops, it betrayed its customers and sold out their security. Questions: 1. What does this Superfish app do when you are on websites? 2. Do you agree that Lenovo needs to be fined or face legal prosecution? 3. Explain the following statements in financial or business terms: Lenovo… Read more »