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

Legal and regulatory risk management plan

Legal and regulatory risk management plan - Introduce that the business has decided to conduct an audit process of its areas of risk. Introduce the category that your business

Describe the concept of force-field analysis

Describe the concept of force-field analysis and the forces that either drive or restrain the change process. Using the force-field analysis model, discuss a change initiati

Evaluate risk management techniques from experts in field

In this assignment, you will compare and evaluate risk management techniques from experts in the field. Go to the Ashford University Library and find one article by Dr. Jame

Explain how effective firm credit risk analysis

Explain how effective firm credit risk analysis and portfolio risk analysis ensure efficient credit risk management. Theoretical Bank Ltd is conducting credit risk analysi

How will you leverage partnerships

What are the means available to you to launch a new venture? These means include who you are (values, attributes), what you know (knowledge, skills), whom you know (networks

List and explain at least three risks

List and explain at least three risks (four or more will earn top credit) that Carol should be prepared to manage as she executes her plans. What risk management techniques

Short-term debt increase without pushing

Current and Quick Ratios The Nelson Company has $1,740,000 in current assets and $600,000 in current liabilities. Its initial inventory level is $300,000, and it will raise fu

Analyze specific business products and practices

Analyze specific business products and practices as they relate to eco-efficiency - Analyze specific business products and practices as they relate to product stewardship and

Reviews

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