Description: Cyber thieves stole over 84,000 Scene+ points from Rosalind Ashe, $100 at a time. April Canavan of Vancouver found herself $1,000 short of PC Optimum points after she was targeted by fraudsters. These unfortunate Canadians are victims of data theft in action as criminals enter into individual accounts through “brute force” attacks or information made available through data breaches. One recommendation for us is to ask for two-step verification on your accounts.

Date:  February 17, 2024

Source:  cbc.ca

 Link: https://www.cbc.ca/radio/costofliving/loyalty-point-theft-1.7115362

Discussion points:

1) Have you or any of your classmates been troubled by a theft of your loyalty points?

2) Do you use two-factor identification where available? Why is it an effective control in protecting your points?

3) Pages 7-3 through 7-8 of Wiley’s Financial Accounting: Tools for Business Decision-Making contains a section on Control Activities businesses can employ. Which of these five would be most applicable in helping you safeguard your loyalty points assets?