Abc company is a retailer with an ecommerce presence and a...

ABC Company is a retailer with an Ecommerce presence and a SEC reporting company. ABC products are sold within the 48 contiguous states. Customers like ABC’s products due to their quality and loyalty program which includes several types of rebates based on a point system. Points are allocated based on purchases both dollar and volume. To become a loyalty customer, they must provide ABC with their name, phone number, address, and email address. Additionally, the customer must have a valid credit card number on file to place an order online. The credit card number is stored as part of the encrypted customer record. What are the control procedures, control gaps, and solutions to mitigate the control gap?

Transcript

00:01 All right, so we have abc company is a retailer with a e -commerce presence in an sec reporting company abc products are sold within 48 contingent states customers like abc's products due to their quality and loyalty program which includes several types of rebates based on a point system points are allocated based on purchases both dollar and volume to become a loyalty customer they must provide abc with their name phone number address email additionally the customer must have a valid credit card number on file to place an order online the credit card number is stored as part of the encrypted customer record.

00:42 What are control? what are the control procedures control gaps and solutions to mitigate the control gap? all right, johnny eat is for you so let's start with the control procedures.

00:53 You got the customer serve information verification right now customer info verification abc company should have a system in place to verify the authenticity of the customer information provided you know, they could just be bought spamming and registering new accounts so they need some way to verify all these accounts are valid this could include email verification phone number verification and address verification.

01:23 You can also use something like capture credit card verification same deal.

01:28 You need to make sure that those credit cards are valid so credit card verification data encryption the company should have a robust at a encryption system to protect customers credit card information nowadays and get your information stolen very easily.

01:48 So the company needs to have a very good data encryption encryption loyalty program management the program should have a system to accurately track and manage points earned by customers back in the old days you should do this just by a regular card but now in modern times you can track this quite easily and the abc company should have a system though able to keep track of loyalty program this system this could include a system that automatically updates points based on the purchases made by customer and those are the down loyalty loyalty program management management so these are our control procedures now the control gaps could fall into data breach risk you know, you're just at risk of your data being stolen even it would in data encryption...

Question

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