Hidden fraud risk in Sarbanes-Oxley?

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That doesn't matter

"SOA requires encryption of sensitive data doesn't it?"

You still have to identify what sensitive data is. With the borderline paranoia associated with complying with these new types of legislation, many companies are keeping the world and encrypting 3/4 of it. When that much data is being kept, the issue becomes finding an individual blade of grass in a 50 acre lawn.

There is a competing issue as well. If the Government requests all communications between you and I over a certain six month period to prove or disprove an infraction, and if I cannot produce it in a reasonable timeframe, then they can request all communications in that timeframe for their own analysis. Then it becomes a fishing expidition where they can, as part of the discovery process, initiate new sanctions on other infractions that would not have been uncovered if the data were producable.

The real question here is how do best I protect my business? It may actually come to a point where some businesses simply ignor the Sar-Ox Act and accept the fines for not having the data rather than trying to comply, spending exhorbidant amounts on storage and analysis tools only to be fined anyway.

Posted by: Mack DaNife   Posted on: 03/08/05 You are currently: a Guest | Members login | Terms of Use

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