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Cyber-Attack at Target Corporation: Importance of Network Security Model

In November 2013, Target Corporation was the subject of one of the largest cyber-attacks in history. The attack and Target’s response exposed the company to intense criticism and raised questions about the accountability of Target’s board of directors and the Audit Committee and Corporate Responsibility Committee that were responsible for the oversight of both operational and reputational risks.

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Added on  2023-06-10

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This article discusses the cyber-attack at Target Corporation and the importance of a proper network security model to prevent such attacks. It also highlights the role of stakeholders in maintaining network security.

Cyber-Attack at Target Corporation: Importance of Network Security Model

In November 2013, Target Corporation was the subject of one of the largest cyber-attacks in history. The attack and Target’s response exposed the company to intense criticism and raised questions about the accountability of Target’s board of directors and the Audit Committee and Corporate Responsibility Committee that were responsible for the oversight of both operational and reputational risks.

   Added on 2023-06-10

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Running head: ACCOUNTING INFORMATION SYSTEM
Accounting Information System
Name of the Student
Name of the University
Author’s Note
Cyber-Attack at Target Corporation: Importance of Network Security Model_1
2
ACCOUNTING INFORMATION SYSTEM
1. Cyber-attack at Target Corporation has been a great shame for the company as millions
of data and passwords of customers have been hacked within a few seconds. The audit
committee of the company has been investigating the cause of the cyber breach in the company.
The committee found that there has been an internal person of the company for this breach
(Buczak & Guven, 2016). The board of directors of the company has been properly investigated
in this case for finding the reason for the breach. The Chief Financial Officer (CFO) and Chief
Information Officer (CIO) has been filed a derivative lawsuit against them. The lawsuit claimed
that virtue of the position of the members of the board of directors, they have been found accused
of the scenario (Rodriguez et al., 2015). The personal and financial information of the company
has been kept with them. However, in response, lawyers of Target claimed that directors were
not liable for cause as they have been bounded with firm’s Articles of Incorporation.
I would perform security analysis in the Target Corporation for identifying flaws in the
network security. There is a need for changes in security systems in the company. The firewalls
of company have been weak for a long time. The Audit Committee has highlighted that it was
the responsibility of the board of directors for reporting their financial assets seriously to the
company. They have failed in supervising their internal controls and cybersecurity systems.
The firewall used in the company including Malware bytes has been not capable of
restricting spam emails and updated viruses. The use of various techniques for the compounding
this cyber-attack including spam emails. The network security model of the company needs to
change onwards. Therefore, the firewall of a company needs to be updated with the latest version
that will help in restricting various malicious viruses and malware from entering into the network
of the company.
Cyber-Attack at Target Corporation: Importance of Network Security Model_2

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