Cyber Attacked: Could You Be Next?

Sarah DesJardins, University at Albany, State University of New York


In today’s modern world, companies store the majority of their business information on computer systems. If not properly protected, private data such as customer financial records, trade secrets, and company financials, can be easily compromised. Major data breaches are becoming more frequent, as hackers are becoming more sophisticated. Cyber-attacks have a negative impact on customers, shareholders, employees, and of course the company itself. This paper examines several recent cyber-attacks and explores the reaction to these by the corporations. It examines the potential and verifiable consequences of these attacks and identifies a range of shareholders who can be injured by the attacks. It examines the adoption of chip and PIN cards as a proposed solution to what appears to be an accelerating and almost unstoppable attempt by criminals to steal personal and financial information.