Unit 6 Term Project

40050Term Project involves the summarization of a Forensic Accounting/Fraud Scandal Case (at least 10 pages). Research paper (refer to sample in DocSharing Folder) should discuss FA issues (e.g. Accounting principles, Auditing procedures, Fraud schemes/prevention/detection/investigation and lessons learned).

Target
The Target data breach in late 2013 was the largest in U.S. retail history and resulted in the exposure of approximately 40 million credit card numbers and the personal information of 70 million customers. Unidentified hackers — thought to be from Eastern Europe or Russia — surreptitiously installed malware into Target’s computer networks. The hackers accessed Target’s systems using the credentials of a third-party heating and air conditioning contractor.

Before the company was hacked, Target had installed a security system that caught five instances of malware graded at the highest severity. Members of corporate headquarters were notified, but apparently ignored the alerts. In this day and age when cybersecurity has become a hot topic thanks to the increasing advancements in technology, the Target debacle shows that companies need a strong response plan to deal with alerts of possible network intrusions.

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