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Running head: LITERATURE REVIEW ON CYBER DATA THEFT IN UK LITERATURE REVIEW ON CYBER DATA THEFT IN UK Name of student: Name of university: Author note:
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1 CYBER DATA THEFT IN UK Table of Contents Introduction......................................................................................................................................3 Setting of the Project...................................................................................................................3 Aim of the project........................................................................................................................3 Reasons to choose the project......................................................................................................5 Literature Review............................................................................................................................6 Research Methodology:.................................................................................................................13 Research Outline........................................................................................................................13 Research Philosophy..................................................................................................................13 Research Approach....................................................................................................................14 Research strategy an Analysis Method......................................................................................14 Research design.........................................................................................................................15 Data collection...........................................................................................................................15 Sampling method.......................................................................................................................15 Ethical consideration.................................................................................................................15 Research limitation....................................................................................................................16 Primary Data..................................................................................................................................17 Analysis.....................................................................................................................................24 Linking The Studies...................................................................................................................26
2 CYBER DATA THEFT IN UK Conclusion.....................................................................................................................................27 Appendix........................................................................................................................................34
3 CYBER DATA THEFT IN UK Introduction Setting of the Project This project is based on the consumer data theft inthe context of UK. The topic highlights the business implication of cyber consumer data theft and its impact on UK consumer confidence. This current research project is based on the data theft of UK retail industry. However, statistical data shows that large retail organizations of UK are the major victims of the breach of attack. The retailers that hold the personal data are attacked by the hacker (Gov.uk 2018). As per the cyber security breach survey 2017 7 large organizations out of ten are reported as the victims of attack or breach. The major attack is caused by the fraudulent emails. Aim of the project This current research aims to identify the impact of consumer data theft on consumer confidence About the project Data theftrefers to the process through which the business or personal information is taken or copied in an illegal way (Lange and Burger 2017). The information includes the user information such as the social security numbers, personal information, password, credit card information and other confidential information of the corporate sectors. However, the hackers obtained the information through an illegal way, which leads them to face the legal obligation. The computer based information is stolen by the hacker that may affect the business.Consumer confidencerefers to the belief of the consumers regarding the current economic condition as well as the expectation from the future economy. In the context of an organization the consumer confidence is considered as the trust and the expectation of the consumers from the business. On
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4 CYBER DATA THEFT IN UK the other hand, the degree of optimism refers to the feeling of the consumer regarding the economy and the service of the organization (Simon and Cagle 2017). Consumer purchases more products while consumer confidence is high. On the other hand, if the consumer confidence is low then the consumer purchases less product. The increase and decrease of the economy depend on the consumer confidence. However, if the data is theft in an organization regarding the corporate information or the personal information of the consumers then it affects the confidence level of the consumer.Cyber data theftrefers to the breach of confidentiality of the data through the electronic media (Lange and Burger 2017). Rapid use of computer and internet allows the hacker to steal the business information easily. This is a major problem in the recent years. Thebackground of the studyfocuses that in UK cyber data theft is a major concern for the consumers as well as for the business. According to the statistical data, the hackers stole approx £130bn from the UK consumers in the years 2017 (Theguardian.com 2018). This is due to the theft of information from the business. On the other hand, the British internet users faced loss about £4.6bn as per the report of Norton cyber security firm. It has been found 50% retail firms of UK faced the challenges due to the theft of business data. Major attacks are caused by viruses and malware through the email. The survey data reveals that the business those stores the personal data of the consumers through electronic media are the worst sufferer of cyber data theft. It has been observed that 51 percent of the businesses who use electronic data storage system are the major victims of cyber data theft (Gov.uk 2018). On the other hand, 31% of the businesses that do not use electronic data storage face data theft challenges. In the year the numberofcybercrimeinUKwas220,691,whichincreasedupto264,052in2017
5 CYBER DATA THEFT IN UK (kindus.co.uk 2018). From this data it can be said that the cyber crime trend increases in the recent years. This data theft is an important issue in the UK business as it hampers the confidentiality of the business as well as the customers (Lange and Burger 2017). On the other hand, the consumer confidence is crucial for the business as if the consumer is confident then their purchasing power will be increased, which also improve the brand image. Reasons to choose the project The project is chosen to highlight the current issues regarding the business in UK. Therefore, the rapid enhancement of the cyber data theft in UK retail organization and its impact on the consumer confidence is addressed in this study. This will increase the awareness among the consumers and retailers to regulate the cyber data theft properly. They will be able to strengthen the protection of the information properly.
6 CYBER DATA THEFT IN UK Literature Review Considering the theft of data as a breach of trust of trust between the company and the customer, it is important to theorize the situation. This is related to theconsumer confidence theorythat underscores that consumers have certain confidence towards the economy and the personal financial situation(Boiten and Wall 2017). This outlook can be either optimistic (it is related to high consumer confidence)or it can be pessimistic (relatedto low consumer confidence). It is the degree of consumer confidence that shapes the willingness of the consumer to spend, borrow or save. TheTheory of Planned Behaviouris also important in understanding about the factors that play a determining role in the purchasing behaviour of the consumers. This theory was proposed by Ajzen and Fishbein and suggests about behaviour that is determined by attitudes, intentions and the subjective norms(Mills and Harclerode 2017). This underscores that individuals make reasonable and informed choices by assessing the available information. Therefore, incidents of data theft will dissuade the consumers from investing on a product from the company thereby bringing down the reputation of the company and ruining the company- customer relationship(Lassoued and Hobbs 2015). The cyber attack inNHS by the WannaCry ransomwarecaused complete disruption in the functioning of the company. More than 6, 900 appointments were cancelled as a result of the attack. The malware has encrypted data on the infected computers and the cyber attackers made a demand of 23 pound ($300). According to an assessment of the 88 out of 236 trusts, it was found that NHS Digital trust has violated the confidence of the clients as none of these trusts had passed the cyber-security test. There have been reports to show that the NHS trusts have not promptly responded to the critical alerts from the NHS Digital and a warning from the Department of Health and the Cabinet Office in 2014 to either patch or migrate away the vulnerable software. The organization could have better
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7 CYBER DATA THEFT IN UK managed the firewall but once again, there was no robust approach from the organization. The Wannacry attack led to several important appointments being cancelled among which many were cancer referrals. Therefore, cyber data theft threatens to not just dilute the confidence of the consumer on a product but at the same time, it can wreck the reputation of an entire organization and the NHS incident is one such manifestation. As it has been argued that tackling these cyber- security problems are related to the management rather than the technology related as it is largely projected. Anothercyber data theft incidentthat created worldwide furore was theSony data breach. The cyber hackers invaded the company’s computer and divulged personal information that led to widespread anxiety(Hinz, Nofer, Schiereck and Trillig 2015). The employees of Sony suffered extreme economic harm due to the release of the stolen data. Another harm caused by the cyber attack was it wiped out large amount of data and led to the online distribution of sensitive information, emails and pirated copies of movies. As a result of which lawsuit of negligence was filed against the company by the former employees exhorting that Sony needs to upgrade its credit monitoring and address the increased risk of the identity theft. The incident led Sony to pay huge amount to the the employees whose personal information have been divulged and that caused severe harm (Dwyer 2015). This incident taught Sony to pay attention towards cyber security issues and create a more strong and resilient business. Both the Sony data theft incident and the NHS cyber security attack highlights the vulnerability of the consumers and the employees in the cyber world and the trust issues that are jeopardized due to the lack of robust approach of organizations. Acoca (2008) discusses on the 72ndSession in October 2006 where the Committee on Consumer Policy (CCP) carried out an analysis of the identity theft. The author argues that low cost and seamless communication system not just fosters the growth in the current set of
8 CYBER DATA THEFT IN UK industries but encourages the diffusion between knowledge and culture. Since Internet has become an important space for communication, it is increasingly being realized that there is a need to maintain sustainable transactions for the global economy. According to Arlitsch and Edelman (2014), cyber security has become a raging issue especially in the context of Target And Neiman who has been a victim of cyber security crime by hackers. Similarly, Adobe has also faced this problem of security breach that compromised the data record of millions of customers. Therefore, the author argues that our interconnected word actually creates threats for cybercrime and hovers our private and public life. The authors rightly point out that it would be difficult to disconnect from the system but with the adoption of simple steps and tools one can mitigate the danger posed by cyber security. According to Anderson. Identity theft is possible due to the nature of modern system of payments. This is common in the modern economy because sellers are willing to trust strangers in exchange of the promise to pay. Identity theft according to the author refers acquisition of data regarding another person by counterfeiting the link and allowing the thief to procure goods whilst the attributing the charge to another person. AccordingtotheargumentofBiener,thereisanadequacyofinsuranceinthe management of cyber risk. The author has extracted 994 cyber losses from the operational risk database and has analyzed the statistical properties. . The authors are interested in understanding the insurability of the risks through the systematic review of the set of criteria by Berliner. The authors have found that these hinder process of development for a sustainable cyber insurance market. The authors propose the ways in which cyber security exposure could be better managed and provides direction for future research.
9 CYBER DATA THEFT IN UK According to Bonner (2011), there have been proliferations in high profile data breaches that have made it to the national news. In this situation, it is the government that needs to essay an important role in advancing the cyber risk insurance among the business and organization in UK much like the policies and strategies adopted by the federal government in USA. The author is of the view that government can seek possible tools to secure the goal through contractors and sub-contractors to have insurance policies. This would foster greater knowledge of the range and diversity of cyber risks and would alleviate the economic burden on the insurance industry. Chaudhury (2011), provides an overview of the proliferation in internet in the global marketplace that has led to the increase in piracy. The author discusses about the No Electronic Theft Act and Digital Millennium Copyright Act to discuss about the enterprise enforcement mechanisms and the world of anti-piracy technology for the cyberspace. It has been argued by the author that enterprise information systems and its mutual dependence on the internet require new technologies to rapidly search. One important revelation of the study is that there is an increase in the quality of web service that would would be helpful in detecting the pirated content which is being considered for the anti-piracy technology. Fisher (2012), argues that every time there is any online transaction there is a possibility that we are giving relevant information to the corporate enterprises who have the power to abuse this privilege. These companies have the obligation to protect the data and most of the time, the companies seriously protect the data shared with them. The author argues about the problem of data breach and correspondingly provides solutions to enhance data security. The author articulates about the established security standards for the business. He also exhorts that consumers need to be empowered to deal with negligence with caution and action.
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10 CYBER DATA THEFT IN UK Das and Nayak (2013), discuss about the facilities of computer technology and the concomitant drawbacks of the same. It provides the advantage of accessing information at a fast pace but there also possible disadvantages which is known cyber crime. There has been a proliferation in cheap, user-friendly and powerful computers that have become a normal part of the lives of people. Cyber crimes can be prevented and restricted through the proper analysis of behavior and through understanding the impact, it has on the society. Therfore, the author exhorts that there should be a systematic understanding of the cyber crimes and their impact on various areas of the social life, teenager and consumer trust and predict the future trends of cyber crimes. In Big Data’s concept of piracy, Kshetri discusses about the benefits, externalities and the costs that are used by the organizations for big data. The author is interested to investigate into the different characteristics regarding the way big data is related to the concepts of piracy, consumer welfare and security. These are examined from the viewpoints of storing, data collection, accessibility and sharing. One important finding of the paper is that the aspects of security, privacy and consumer welfare on big data will vary across the range of consumers based on their levels of vulnerability and technological savviness. Joerling in her paperData breach notification laws: An argument for a comprehensive federal law to protect consumer data(2010), discusses about the amount of personal data that have been compromised due to the breach of data. The veracity of the breach of data has culminated to huge financial burden on consumers and companies. This has compelled the different states to enforce legislation with the aim of protecting the integrity of the consumers. According to the provisions of the law, companies need to notify the consumers about the breach of information that would be done during the data search.
11 CYBER DATA THEFT IN UK As per the argument of Maillart and Sornette (2010), the proliferation in internet has led to the growth in new kinds of epidemics that poses threat in the cyber world. The authors have produced some interesting statistics in support of their arguments about the threats of cyber epidemics. In addition, the author provides opportunities to control this cyber epidemic and insure the consumers on a global scale. AccordingtoRoberts,IndermaurandSpiranovic(2013),theissuesoffraudulent activities and identity theft have negative implications for everyone I twenty-five adults in the western country. Despite the positive effects of internet, internet is increasingly being used to perpetrate cyber crime through obtaining identity tokens and identifying information. The highlight of this paper is that it argues that the veracity of threat from cyber crime has now become equivalent crimes that take place in a physical space. This fear of cyber crime has posed hindrance in the development of sophisticated e-commerce applications. The methodology adopted by the author is exploratory research to study the fear of identity theft. According to Romanosky, Telang and Acquisi (2011), the impact of identity theft that is caused by the corporate data breaches. Data Breach disclosure laws is concerned with the firm’s duty of responding to the theft and their impact. This study has found that identity theft can be prevented through the deployment of data breach disclosure laws that can minimize identity that may breach of data by 6.1 per cent as has been found by the authors. Saini and Rao (2012), argues that in the present society maximum of information is there on internet and these information is prone to cyber threats. Cyber attacks are motivated by vested interests of the cyber criminals and they pursue such attacksfor stealing important information from the database. It has been found that obstacles on cyber crime is contingent on the proper
12 CYBER DATA THEFT IN UK analysis of the behavior and a comprehensive understanding the impact of various levels of society. According to Winn and Govern (2009), in the age of digitization and concomitant cyber security threats, there is the fear of the loss of social security numbers, birth-dates, credit card numbers and other confidential information by the third parties. Identity theft as recognized by the author and as discussed by the other scholar has become quite common and severely affects the consumers more than two billion dollars and one-hundred million dollar per hour. In other words, the crux of the article is to discuss the challenges and risks that are concomitant to cyber security.
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13 CYBER DATA THEFT IN UK Research Methodology: The research methodology focusses on a number of different processes that are to be followed in a research. The various methodologies focusing on the different aspects of the research takes into account the different learning outcomes that can be achieved in the research. The different section in the methodology relates to the various aspects of the research focusing on the overall understanding of the outcomes of the research. Research Outline The research outline focuses on the overall outline of the research taking into account the points to be focused on in the research . The researcher has taken up the research focusing on a number of different opinions validating the context of the research. The study is done based on the different data collected from a number of different resources such as magazines journals and a number of different research works related to the topic. (Gray, 2013). Research Philosophy ResearchPhilosophyisoneofthemostimportantaspectsofanyresearch.The philosophy on which the research is based takes into account the different aspects to be focused on the research. It makes the readers understand the point of view of the research. The outcomes and the methods of interpreting the research is based on the research methodology. Positivism, interpretivism, epistemology and realness are four basic sorts of research philosophies that are generally used in the different researches (Wilson, 2014). Positivism is a theory focusing on th development of the research through interpretation of the data. Tit is the based philosophy based on the scenario of the current research. It focusses on the testing of the research hypothesis based on the quantifiable data interpretation in the research (Bryman, 2015).
14 CYBER DATA THEFT IN UK Research Approach Research approach consists of two types in the context of the research, particularly, inductive and deductive. Inductive research focuses on introduction of a new theory out of the research experience and deductive approach focusses on the understanding of the research based on a number of preset theories (Flick, 2015). Under deductive research, the researcher focusses on understanding the research in the light of the theories of the previous works (Creswell, 2014). In this research, the deductive study of the research is adopted, as the researcher will uses the hypothesis testing as the core of his research. Another aspect of the approach is the explanatory or the exploratory approach. In the given research the researcher will take into account the explanatory research approach to manage to address the different parts of the research and get his idea through in the research. Explanatory research helps in focussing on the different theories relating to the research work and test the hypothesis (Bryman and Bell, 2015). Research strategyan Analysis Method Quantitative, qualitative, participatory and pragmaticare the major four types of the research strategy followed in the research. In the research work, the researcher has qualitative and the quantitative research approach. This based on the positivism philosophy chosen for the research. Using the qualitative methodology the researcher can focus on the different data of the research and come to proper outcome in the research. In the research method the data has to be collected and qualified taking into mind the different discrepancies that might creep in due to technical factors. The methodology therefore helps in the understanding of the process on interpretation of the research.
15 CYBER DATA THEFT IN UK Research design As shown by Tsang (2014), the research design, focuses on the hypothesis testing and conducting a number of trials in the research. Research design portrays the plans followed by the researcher to address the various issues in the research. There a are a number of research designs that can be focussed on but the researcher focusses on the hypothesis testing as a valid method. In this research the primary and the secondary data in the form of research will be used for the hypothesis testing Data collection Primary and secondaryare the two types of the data collection methods. The data, which is collected directly from and an all inclusive population in the field of study, who are affected by the factors researched onis known as primary data. The data techniques will be utilized for the collection and the understanding of the data in the research. Conversely, the data is collected from a number of trusted valid and peer reviewed literary sources consisting of book magazines and the journals which account for the secondary data in the research which is also used for qualitative analysis. Primary data is collected though a number processes such as interview questionnaire surveys and other such methods. In this research, the researcher has used both qualitative and quantitative data in the research development. Sampling method The research will be based on a survey data collected from thirty people in the research. Ethical consideration The researcher will not be biased and partial in the collection or the representation of the data in this research. The subjects will be informed about the research prior to their participation
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16 CYBER DATA THEFT IN UK and the data collected with their research. The research question will not be personal and notb focus on the making any statements and judgements of the personal lives of the subjects (Saunders, Lewis & Thornhill, 2015). The information that is collected will be displayed without any bias in the research. It is additionally critical for the participants to know the research and the conditions in which the data will be used. Along these lines the members would feel protected and secure keeping in mind the end goal to convey the data required. Research limitation The main limitation of the research is time span. Moreover, the research also failed to access adequate literatures for accessibility issue.
17 CYBER DATA THEFT IN UK Primary Data Descriptives Notes Output Created02-MAY-2018 11:39:32 Comments Input Active DatasetDataSet0 Filter<none> Weight<none> Split File<none> N of Rows in Working Data File30 Missing Value Handling Definition of MissingUser defined missing values are treated as missing. Cases UsedAllnon-missingdataare used.
18 CYBER DATA THEFT IN UK Syntax DESCRIPTIVES VARIABLES=GenderAge EmploymentImpact ExperienceSector Confidence /STATISTICS=MEAN STDDEV RANGE MIN MAX SEMEAN. Resources Processor Time00:00:00.05 Elapsed Time00:00:00.05 [DataSet0] Descriptive Statistics NRangeMinimumMaximumMeanStd. Deviation StatisticStatisticStatisticStatisticStatisticStd. ErrorStatistic Gender301.001.002.001.2000.07428.40684 Age303.001.004.002.0667.234561.28475 Employment302.001.003.001.8667.15708.86037 Impact303.001.004.001.7667.16388.89763 Experience301.001.002.001.0667.04632.25371 Sector281.001.002.001.3571.09221.48795
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19 CYBER DATA THEFT IN UK Confidence301.001.002.001.3000.08510.46609 Valid N (listwise)28 FREQUENCIES VARIABLES=Gender Age Employment Impact Sector Confidence Experience /STATISTICS=MEAN MEDIAN MODE SUM /PIECHART FREQ /ORDER=ANALYSIS. Frequencies Notes Output Created02-MAY-2018 11:40:22 Comments InputActive DatasetDataSet0
20 CYBER DATA THEFT IN UK Filter<none> Weight<none> Split File<none> N of Rows in Working Data File30 Missing Value Handling Definition of MissingUser-definedmissingvalues are treated as missing. Cases UsedStatisticsarebasedonall cases with valid data. Syntax FREQUENCIES VARIABLES=GenderAge EmploymentImpactSector Confidence Experience /STATISTICS=MEAN MEDIAN MODE SUM /PIECHART FREQ /ORDER=ANALYSIS. Resources Processor Time00:00:05.38 Elapsed Time00:00:04.46 [DataSet0]
21 CYBER DATA THEFT IN UK Statistics GenderAgeEmploymentImpactSectorConfidence N Valid303030302830 Missing000020 Mean1.20002.06671.86671.76671.35711.3000 Median1.00001.50002.00001.50001.00001.0000 Mode1.001.001.001.001.001.00 Sum36.0062.0056.0053.0038.0039.00 Statistics Experience N Valid30 Missing0 Mean1.0667 Median1.0000 Mode1.00 Sum32.00 Frequency Table
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25 CYBER DATA THEFT IN UK Analysis Minimal effort and consistent correspondence framework not simply cultivates the development in the present arrangement of businesses yet empowers the dissemination amongst information and culture. A casualty of digital security wrongdoing by programmers. So also, Adobe has additionally confronted this issue of security rupture that bargained the information record of a great many clients. Our interconnected word really makes dangers for cybercrime and drifts our private and open life. This is regular in the cutting edge economy since merchants will put stock in outsiders in return of the guarantee to pay. Wholesale fraud as per the creator alludes obtaining of information with respect to someone else by forging the connection and enabling the hoodlum to acquire merchandise while the ascribing the charge to someone else. Understanding the insurability of the dangers through the deliberate survey of the arrangement of criteria by Berliner. The creators have discovered that these ruin procedure of improvementfor an economical digital protection showcase. Government can look for conceivable instruments to secure the objective through temporary workers and sub-contractual workers to have protection approaches. This would encourage more prominent information of the range and assorted variety of digital dangers and would lighten the monetary weight on the protection business. An expansion in the nature of web benefit that would be useful in identifying the pilfered content which is being considered for the counter robbery innovation. The issue of information break and correspondingly gives answers for upgrade information security. There has been an expansion in shoddy, easy to use and capable PCs that have turned into an ordinary piece of the lives of individuals. Digital violations can be averted and confined through the best possible examination of conduct and through understanding the effect, it has on the general public. there ought to be an efficient comprehension of the digital violations and their effect on different
26 CYBER DATA THEFT IN UK regions of the social life, young person and purchaser trust and foresee the future patterns of digital crimes the parts of security, protection and shopper welfare on huge information will change over the scope of customers in view of their levels of helplessness and mechanical sharpness. The veracity of the rupture of information has finished to enormous monetary weight on customers and organizations. This has constrained the distinctive states to implement enactment with the point of ensuring the respectability of the purchasers. As indicated by the arrangements of the law, organizations need to tell the buyers about the rupture of data that would be finished amid the information seek. The feature of this paper is that it contends that the veracity of risk from digital wrongdoing has now turned out to be proportional violations that happen in a physical space. This dread of digital wrongdoing has postured obstacle in the advancement of refined internet business applications. Data fraud as perceived by the creator and as examined by the other researcher has turned out to be very normal and extremely influences the buyers in excess of two billion dollars and one-hundred million dollar for each hour. As it were, the essence of the article is to talk about the difficulties and dangers that are corresponding to digital security. Linking The Studies Customers are progressively worried about associations approaching or holding their own data. Our exploration demonstrates that there is a huge increment in the extent of individuals having encountered some type of digital security rupture since 2013, and less are 'doing nothing' accordingly. Organizations now should be straightforward not just by they way they utilize customers' close to home data, yet in addition by they way they impart the potential advantages and dangers of sharing their information. All exploration found focuses to the requirement for
27 CYBER DATA THEFT IN UK associationstobestraightforwardandtoactimmediatelywhentheyunderstandbuyers' information has been broken. Digital wrongdoing remains a development industry with the dangerofmoreextensiveandallthemorecapabledigitalassaultsonorganizations strengthening. The exploration demonstrates that greater part of purchasers need organizations to present more ID authorisation forms on their sites. In any case, digital security requires not only the correct advances to counter the wrongdoing yet in addition the correct endeavor wide methodology. The correct procedure needs to perceive that digital security isn't only an IT issue, sheets need to observe purchasers' mindfulness and skepticism about how their information is utilized. the expansion in digital assaults, purchasers are ending up more skeptical about how secure their information truly is when imparting their own data to organizations. This absence of trust gives a chance to organizations to act straightforwardly and promise customers that their information is protected with them. Organizations should be unequivocal by they way they secure buyers' information, as well as in the advantages to shoppers of sharing their information and in giving them the decision about how their information is utilized. While the measure of information got to and shared over a perpetually complex system builds, organizations need to hone their concentration and guarantee they secure a certain something: the trust of their clients – customers and organizations alike. In the two examples organizations need to ensure their clients are absolutely certain that their information is overseen and utilized as a part of the most secure way that could be available. The information appears there is additionally a developing extent of individuals perusing the web with treats empowered contrasted with a year prior. This could imply that either individuals are ending up more alright with their information being utilized and followed or they are giving careful consideration to treat acknowledgment messages.
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28 CYBER DATA THEFT IN UK Conclusion The reaction that people need to advanced ambushes and the potential for cybercrime may get from their nonattendance of perception of these threats and their origin. To many, these strikes are nebulous vision, and they could be beginning from any person in wherever on the planet. The world directed by the web has made it with the objective that we need to secure things in a path interestingly rather than we are used to. A clear jolt and key doesn't precisely do it any more. Suitably executed IT Security systems viably supplant the measures we take as a general rule to guarantee ourselves and can give our brains comfort like the protection and certification we get from a securely blasted passage. Buyers are most worried over electronic person to person communication associations, online retailers and budgetary organizations affiliations drawing nearer or holding their own particular information. This obviously clashing finding could be related to the more esteem based association among purchasers and the private part. Purchasers are clear in their message to associations and pariah affiliations: the primary issue that would impact purchasers to reexamine using an affiliation is if that affiliation lost their data or fail to secure it. That applies to a considerable degree of clients and is higher than the degree of purchasers who may reconsider using a relationship in case they were charged a higher cost than the restriction for a proportionate level of organization or thing. It includes the regard customers put without anyone else data being kept secure. Associations in the customer region all ought to have the ability to balance computerized security scenes. It isn't any more an issue of 'if' yet 'when' they will bear a break. Thusly
29 CYBER DATA THEFT IN UK affiliations require the capacities set up to perceive and respond to an event in a controlled and masterminded way. It is fundamental for relationship to have a game plan for how they will respond and finally recover from a security break. In 2015 there have been different instances of security cracks basically hurting a business overnight. Response and recovery are basic to decreasing the impact of the break on the affiliation and obliging the mischief. Affiliations who have a prepared response and correspondence outline, and who are proactive in associating with impacted customers, have seen to a lesser degree a whole deal influence on their trading and offer cost.
30 CYBER DATA THEFT IN UK References Acoca, B., 2008. Scoping paper on online identity theft.Ministerial Background Report on The Future of The Internet Economy, DSTI/CP (2007),3, pp.17-18. Anderson, K.B., Durbin, E. and Salinger, M.A., 2008. Identity theft.Journal of Economic Perspectives,22(2), pp.171-192. Arlitsch,K.andEdelman,A.,2014.Stayingsafe:Cybersecurityforpeopleand organizations.Journal of Library Administration,54(1), pp.46-56. Biener, C., Eling, M. and Wirfs, J.H., 2015. Insurability of cyber risk: An empirical analysis.The Geneva Papers on Risk and Insurance-Issues and Practice,40(1), pp.131-158. Boiten, E.A. and Wall, D.S., 2017. NHS caught out by WannaCry-now scrambling to catch up. Bonner, L., 2012. Cyber Risk: How the 2011 Sony Data Breach and the Need for Cyber Risk Insurance Policies Should Direct the Federal Response to Rising Data Breaches.Wash. UJL & Pol'y,40, p.257. Bryman, A. (2015).Social research methods. Oxford university press. Bryman, A. and Bell, E. 2015.Business research methods. Oxford University Press, USA. Chaudhry, P.E., Chaudhry, S.S., Stumpf, S.A. and Sudler, H., 2011. Piracy in cyber space: consumer complicity, pirates and enterprise enforcement.Enterprise Information Systems,5(2), pp.255-271. Creswell, J. W. 2014.A concise introduction to mixed methods research. Sage Publications.
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31 CYBER DATA THEFT IN UK Das, S. and Nayak, T., 2013. Impact of cyber crime: issues and challenges.International Journal of Engineering Sciences & Emerging Technologies,6(2), pp.142-153. Dwyer, A., 2018. The NHS cyber-attack: A look at the complex environmental conditions of WannaCry.RAD Magazine,44, pp.25-26. Fisher, J.A., 2012. Secure my data or pay the price: Consumer remedy for the negligent enablement of data breach.Wm. & Mary Bus. L. Rev.,4, p.215. Flick, U. 2015.Introducing research methodology: A beginner's guide to doing a research project. Sage. Gov.uk. 2018.Almost half of UK firms hit by cyber breach or attack in the past year.[online] Availableat:https://www.gov.uk/government/news/almost-half-of-uk-firms-hit-by-cyber- breach-or-attack-in-the-past-year Gray, D. E. 2013.Doing research in the real world. Sage. Hinz, O., Nofer, M., Schiereck, D. and Trillig, J., 2015. The influence of data theft on the share pricesandsystematicriskofconsumerelectronicscompanies.Information& Management,52(3), pp.337-347. Joerling, J., 2010. Data breach notification laws: An argument for a comprehensive federal law to protect consumer data.Wash. UJL & Pol'y,32, p.467. kindus.co.uk. 2018.UK Cybercrime statistic.[online] Available at:https://kindus.co.uk/uk- cybercrime-statistics/
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