Threats and Countermeasures
Plenty of threats, if carried out, could cause damage to the organization. We discuss some of these threats in the following sections.
Errors and Omissions
Errors and Omissions (E&O) is an insurance term that describes strategic and tactical errors that an organization can face, whether by commission (performing an action) or omission (failure to perform an action). In addition to general liability coverage, insurance companies also sell Errors and Omissions insurance. Errors and Omissions liability is also known as professional liability.
An example of Errors and Omissions is an error that prevents a company from delivering goods or services per the terms of a contract.
Organizations can prevent some Errors and Omissions through product reviews and quality control processes. For example, an accounting firm can implement systems that help to prevent calculation errors, and a medical transcription organization may implement access control systems to prevent the accidental disclosure of information.
Fraud is defined as any deceptive or misrepresented activity that results in illicit personal gain. Workers who have detailed knowledge of business processes and/or insider access to information are in a particularly good position to defraud their employers.
Some examples of fraud include
Writing bad checks
Lying about personal information in order to ...