1– CC317-Information Assurance and Security

Instructions: Kindly fill-up with necessary information in the space provided.

BS5AA
Section
Student’s Name UNDAP EPRIEL JEAN T.
(Last Name First Name Middle Initial) School Year 2020-2021
 1st Year
Degree Program Bachelor of Science in Computer Science Year Level  2nd Year
CC317  3rd Year
Course Code  4th Year
INFORMATION ASSURANCE AND SECURITY  1st Semester
Course Title Semester
 2nd Semester
Instructor/Professo Mr. Glenn Arwin Bristol
Week(s) Covered
r
DO NOT FORGET TO SAVE YOUR FILE AS :
<Lastname_CourseCode_Section_WeekNo_Semester_ACTIVITYNo.docx> Example: Delacruz_CC111_BS1MA_Week1_1stSem_ACT1.docx
* You may write below this line.

Instruction: You May Answer based on your understanding, do not copy paste on any browser

REPORT ANALYSIS
ISSUES IN INFORMATION ASSURANCE AND SECURITY

Note
1. Maximum of 1- 2 pages
2. You are assigned to read article, news and search legally issues on Information
assurance and security
3. do not copy paste the whole research but you make a report analysis (own word)

RUBRICS FOR GRADING

PERCENTAGE
CRITERIA Excellent Good Average Poor
Development of Ideas 5 4 3 2
Evidence of Critical Thinking 5 4 3 2
Clarity 5 4 3 2

BSCS Department Page 1 of 4 /mlcds

 1– CC317-Information Assurance and Security

REPORT ANALYSIS
ISSUES IN INFORMATION ASSURANCE AND SECURITY

TITLE: INSIDE JOB FRAUD

Business Process Outsourcing (BPO) is a subset of outsourcing that involves contracting the operations
and responsibilities for a particular business process to a third-party service provider. Philippines has
been the center of BPO industries in the South East Asia, if not the world. Base on a Tholon's 2019
Service Global index the Manila is one of the Top 5 cities of the world with Bangalore, Sao Paolo,
Toronto, and Dublin who have significant amount of BPO and customer service work. Cebu is still one of
the Top performing cities falling from 12th in the past year to 15th in 2019 in the said event. There is
uncertainty for Cebu next year to remain in the top 15 because of an incident involving three employees
of Sykes Philippines in Cebu.

Many says that three employees of Sykes Philippines in Cebu were having a scheme with online
scammers taking advantage of online gift cards. They added that although the value of online gift cards
was relatively small, but the workers accumulated over time a total worth of P60 million from
scammers, then converted it into bit-coins.

Sykes Philippines, in an official statement sent to CDN Digital on Saturday, August 15, said they had
discovered several workers violating their standards of conduct.

“We serve many of the world’s largest brands with the highest levels of integrity, and we take fraud
allegations very seriously. In the past few months, we learned that a small number of employees
violated our standards of conduct,” portions of Sykes Philippines’ statement read.

The Sykes Philippines also said that actions are being taken against those three employees involved in
the scheme.

“We took swift action on those employees in accordance with company policies,” said Sykes Philippines.

However, the company denied the social media posts saying that they will be terminating or suspending
hundreds of employees due to this incident. “Contrary to social media posts, however, this has not
resulted in the loss of jobs for employees not directly involved in the incident,” said Sykes Philippines.

But they added that several adjustments, however not being said, were being made to control the issue.
The company also assures the public that policies to prevent, identify and handle issues of scam inside
the company. “We value the trust that our clients and employees put in us and will continue operating
with the highest standards of quality and professionalism,” Sykes Philippines added.

In the past few days, the online community in Cebu are being alarmed that these same incidents are also
happening in other companies without being detected.

Unofficial reports also said that international investigating and auditing are also investigating the said
scheme.

Corruption has been embedded in our history way back the Spanish Colonization. Could it be creeping in
the corporate world as well? Lilian Grooten and Gérard Zolt of Ernst & Young Luxembourg, in an article
published on July 5, 2019 in the European Court of Auditors, said that “in the EY annual Global Fraud
Survey, in which 2550 executives from 55 countries and territories around the world were interviewed,
the responses received clearly demonstrated that fraud and corruption have not decreased globally in
the last two years.” This is indeed worrisome, with the large-scale scandals that have shaken the

Page 2 of 4 /mlcds
 1– CC317-Information Assurance and Security

business sector, if not the world. In the Philippines, the most notorious are FrancSwiss (2007), Legacy
Group (2009), Aman Future (2012), Emgoldex (2015) and the most recent, Ponzi schemes in Mindanao
also known as Kapa and Rigen (2019).

On July 2019, The Adsum Risk Consulting (ARC) released an article entitled, “Corporate Fraud in the
Philippines Is Usually an Inside Job” highlights the internal fraud committed by  Maria Victoria Lopez,
Vice President of the corporate services unit in Metrobank’s Makati City head office funneling loans
that amounted 900-million pesos from the bank to bogus accounts listed under a client’s name.

Page 3 of 4 /mlcds
1– CC317-Information Assurance and Security

Page 4 of 4 /mlcds