Effects of increasing Cyber Threats for digital Accounting Service Providers
The new ever-developing technology has brought innovations in the effort of suiting individual and business enterprises. Several benefits come from the development of the technologies such as the save on cost, more effective means of reaching the consumers as well as more reliable services offered by the financial institutions. However, there is the dark side of the new technology where a significant threat of cyber insecurity for consumer information has increased. This has led to substantial losses in accounts among the financial institutions and, at the same time, the lack of trust from the customers.
Based on the above research problem, there is the main research question that can be developed: What ways can the accounts sector intervene to ensure that the cybersecurity for the consumer information is guaranteed, with the same quality of service being delivered to the consumers? The means through which the accounting sector ensures the security of the consumer information lowers the vulnerability of the clients to the cyber-crimes.
The null hypothesis for the research is the lack of relationship between the services offered to the consumer and the ability to ensure cybersecurity for the client’s information relayed to the financial institutions. The determination of intervention methods should not collide with the cost or quality of the financial services delivered to the client (Vardi, M. Y. 2017). The alternative hypothesis suggests the previous assumption that the client information is at safety with the concerned institution differs from the current situation of the institutions where new methods of bleaching information are being used to acquire client information, thus incurring costs to both the service providers and the clients.
Reference
Vardi, M. Y. (2017). Cyber insecurity and cyber libertarianism. Communications of the ACM, 60(5), 5-5.