Cyber Forensics Accounting and Fraudulent Activities Essay

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Introduction

Cyber forensics encompasses an evolving field within criminal investigations and fraudulent behaviors within the digital space. Data breaches, ransomware, and other attacks on information or digital capital can adversely affect a firm directly or by targeting its stakeholders, employees, and clients. Overall, these activities must be spotted, analyzed, terminated, and preventative measures must be implemented in order for a firm to operate safely within digital markets. As such, the involvement of cyber forensic experts is essential in maintaining data integrity within the court and other settings.

Cyber Forensics

Cyber or computer forensics encompasses investigations that target occurrences on computing devices. Analysis techniques and information-gathering methods are utilized in order to present reliable and applicable evidence in court settings. While the majority of the process requires data collection, it adheres to strict legal compliance guidelines and proceedings to ensure that the found content is relevant to legal processes (Mishra, 2018). The requirements include the maintenance of data integrity, analysis of any modification to the data, and individuals or parties responsible for any changes. Cyber forensics is not inherently associated with criminal investigations and can also be used when recovering information due to data crashes and maintaining cohesive and complete records.

Cyber and computer forensics are incredibly important in investigations concerned with digital accounting and fraudulent activities, including computing devices. With the continued modernization of accounting and financial tools used by firms and individuals, there have also been developments in criminal activity. Forensic accountants and cybersecurity teams are the individuals that are likely to become involved in cases of data discrepancies or breaches that often connect to errors in track records of a firm’s finances. The modern landscape provides even further difficulties, such as in cases of stolen digital assets or currencies that do not have intrinsic values. Often the ability of forensic accountants to minimize or prevent damages from fraud has effects on a company’s reputation, operational costs, costs of a breach investigation, compensation, and other legal damages.

Fraud and criminal activities within digital finances are frequently unseen and often discovered after their occurrence. As such, forensics experts often serve as primary witnesses as they are able to recover, maintain, and interpret data breaches and modifications. Within a court, they have a number of roles and capabilities, including assisting the judge and jury in the interpretation of findings. Witnesses would be expected to respond to questions in relation to the electronic evidence and help obtain factual decisions based on the case’s details (Singh et al., 2019). Similarly, they are likely to be challenged by other computer forensics experts within a court setting and should be able to provide reasonable arguments for their findings and conclusions drawn from the evidence.

Privacy breaches are a common ethical concern when legal proceedings are concerned with large firms that may maintain numerous numbers of personal data of stakeholders, employees, or clients. Data that is held by firms can be incredibly sensitive and contain information such as addresses, security numbers, personal data, and banking or credit card details. Breaches and fraudulent activities already endanger clients, stakeholders, and employees with the potential for further financial or other damages. Both forensic experts and court officials should be considerate with the sharing and utilization of personal data that may be involved in the investigation, as there are chances that continued exposure may add to adverse effects felt by victims of fraud or data breaches.

Because the landscape of finance is shifting every few years as a result of advancements in technology, both the understanding and prohibition of digital fraud and criminal activities must also evolve. Oftentimes, forensic experts and authorities in the court may not be able to effectively communicate the issue due to its unique nature. As such, a forensic expert witness must also have speech skills that prioritize persuasiveness, clarity, and cohesiveness. If a witness is unable to relay the nature of the crime to a judge or jury effectively, they are less likely to succeed in the court of law as the investigation proceeds.

Before a cyber forensic expert provides the primary elements of fraud or breach investigation, including discrepancies in the data, modifications and their contributors, and maintenance of data integrity, they may need to educate the judge and jury on the specifics of their digital finance programs, platforms, or currencies. An effective report is essential in keeping the information and analysis concise and relevant to provide the court with sufficient information. A report can outline the regular proceedings of capital flow the firm expects, the discrepancies or evidence of fraudulent activity, and potential solutions to serve the needs of stakeholders, clients, and employees.

Conclusion

In conclusion, the role and responsibilities of a cyber forensics expert witnesses consist of unique and frequently changing tasks. However, with the changes in the digital market for goods, services, or even digital assets and currencies, they are integral to often investigating unseen crimes and fraudulent activities. If these issues are left unanalyzed or not stopped, they may have incredibly detrimental effects on firms and their stakeholders and clients.

References

Mishra, U. S. (2018). International Journal of Research and Analytical Reviews, 5(3), 317-322. Web.

Singh, K. S., Irfan, A., & Dayal, N. (2019). 4th International Conference on Information Systems and Computer Networks (ISCON), 584-590. Web.

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IvyPanda. 2023. "Cyber Forensics Accounting and Fraudulent Activities." June 13, 2023. https://ivypanda.com/essays/cyber-forensics-accounting-and-fraudulent-activities/.

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