Cyber Weakness and the Impact on the Economy

In 2001, we witnessed two major corporations, Enron and WorldCom, going bankrupt because executive management was egregiously manipulating financial statements. The impact on the U.S. economy was massively detrimental. As a result, the U.S. Security and Exchange Commission (SEC) drafted the Sarbanes-Oxley Act of 2002 (SOX) to protect against such fraudulent activities. However, it took years for the economy to recover.

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