A Magnetic Tape Used to Store Data Backups Was Lost

question 44

Short Answer

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?

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Definitions:

Deflation

A decrease in the general price level of goods and services, often associated with reduced demand or increased supply.

Small Denomination Time Deposits

Small denomination time deposits are savings accounts or certificates of deposit under a specified amount that typically offer interest over a fixed term.

M1

A measure of the money supply that includes physical currency and coin, demand deposits, traveler's checks, and other checkable deposits.

M2

A measure of the money supply that includes cash and checking deposits (M1) as well as near money, such as savings deposits and money market securities.