What type of risk are indicated by this situation

Assignment Help Risk Management
Reference no: EM13907415

Consider the following story from the December 10, 2008 edition of the Las Vegas Review-Journal:

Authorities unsealed the indictments of 15 people involved in a Eurasian gang on Tuesday, revealing an organized crime ring that raked in about $1.5 million through stolen credit cards and identity theft in the Las Vegas Valley. The suspects are facing federal charges including trafficking and possession of counterfeit devices, identity theft, production and use of counterfeit devices and fraud. [A U.S. Attorney] said some of the suspects were involved in "skimming," an act by which a person can obtain credit card information by running the card through a handheld counterfeiting device. The gang members would have people working in restaurants, bars and smoke shops who would scan a customer's credit card on a legitimate machine and then swipe it again with a counterfeiting device.

Suppose the Las Vegas Review-Journal contacted you for some feedback on the article, Prepare a response to the following questions:

a. What is internal control?

b. What type(s) of risk are indicated by this situation?

c. What internal controls would you recommend to address the risks?

Reference no: EM13907415

How have you practiced risk management today

How have you practiced risk management today? Be specific. How does enterprise risk management differ from traditional risk management? Explain the two major differences betwe

Different ways it delivers

Explore different ways that IT delivers value to a business and its role in codifying Administrative, Technical, and Physical (ATP) Controlsspecific to SAS 70, Safe harbor p

Firewalls and risk management

Firewalls and Risk Management- Firewalls are evolving into more sophisticated and advanced devices. Explain how you would optimize the implementation of the firewall you chose

Identify the boundaries of the risk management plan scope

Scope of the Risk Management Plan. Define and identify the boundaries of the risk management plan scope. Risk Management Plan Components. Identify the components to be include

Explore how to identify and develop high-potential talent

Provide a brief description of the status of the company that led to its determination that a change was necessary and identify the model for change theory typified in the cas

Identify two risks or uncertainties that can arise

Identify two risks or uncertainties that can arise during the procurement process, and describe the strategies used to address those risks or uncertainties in the contract p

Determine and analyse the duration and convexity

Determine and analyse the duration and convexity approach to interest rate risk - Operational risk can be assessed either by using a quantitative approach. Explain and analyse

Explain concepts of risk management in healthcare industry

Imagine you are a quality leader for a health care organization and have been asked to create a manual for new employees to introduce the basic concepts of risk and quality


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd