Sunday, July 28, 2019

Financial Protection Is Something We Can No Longer Ignore

One of the problems that we are all facing today is the growing advancements in ways people are able to dig into our pockets and take money. It could be an excellent salesperson “Wolf of Wall Street” style, commercialization in which we are persuaded that we ‘must-have’ this particular item, and of course the very subject we are going to hit on today – those that are making money by selling our financial information.

How Do People Get Hold Of Our Financial Information

Even with all the ethical laws out there that are put in place to guarantee our privacy, greed will still overcome those laws. This is why companies such as Enron contributed to the 2008 stock market crash, and how many other financial companies back in that time were pulling the wool over their investors’ eyes with fake figures.

This was greed because these people did not want to lose their fat paychecks or tarnish their reputation for being successful – another type of greed.

It is agreed that many syndicates out there use to operate. It is all very well believing the amount we earn is protected by company privacy laws, but what happens when someone offers an HR employee a nice sum of $1,000 to give him a list of names and addresses as well as their current earnings? How many say no and how many say yes? 

This does happen. And then this information is sold on a black market and eventually fed through to large corporations who process the data into their systems.

No one can track how they got this data, and hat happens when they do get caught buying this black market info? Usually, they have an elaborate cover-up story, plead innocence, and at worst get let off with a small fine; a fine that is just an expense that is worth far less than the profit made by buying that information.

Computer Fraud or Online Fraud

Internet security, being used as sécurité internet for hackers is another vulnerable area every business has to protect. However, once again, in some smaller firms computer personnel have been caught actively selling access to their company system on the Dark Web in exchange for Bitcoins. There are probably plenty of cash deals that go on too.

In the USA people are hot on the subject of blaming Russian and Chinese hackers for influencing government polls. How did these people get into these websites in the first place? Was someone paid to make sure these government websites had lesser security? Well OK, we don’t really know if what are hearing in the media on this subject is true or not, but let’s say these government systems are as vulnerable as the media has reported, then how secure is our financial data?

The foreign invasion of the US IT systems has been dubbed as protection internet, which many of us cannot read or comprehend. However, just because the USA is always in the news, that does not mean every other country is also under threat from these cyber attacks. They are, and it is not just cyberattacks, but information fraud; although the information technically comes from a computer system, so this is a form of a cybersecurity breach.

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