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A magnetic tape used to store data backups was lost while it was being transported to an offsite storage location. The data on the tape includes customers' credit card and personal information. Which preventive control(s) should have been used to minimize the potential loss?
Strategic Goods
Products, services, or materials that are crucial to a company’s business strategy or to national security, often subject to trade controls.
Value Engineering (VE)
A systematic method to improve the "value" of goods or products and services by using an examination of function. Value, in this context, can be defined as the ratio of function to cost.
Value Analysis (VA)
is a method to improve product value by examining its function, design, and the cost of components, aiming for cost reduction while maintaining quality.
FinTech Firms
Companies that innovate and provide technological solutions for the finance sector, often disrupting traditional banking services and methods.
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