You are CEO of Styx, a startup ride sharing company seeking to compete with Uber, Lyft, and
Question:
You are CEO of Styx, a startup ride sharing company seeking to compete with Uber, Lyft, and similar firms. Your company is seeking to capture part of the corporate end of the market by offering volume discounts and other perks to companies that open an account and meet certain minimum usage requirements. The startup costs for the enterprise are significant, and you have already blown through most of your initial $50 million in venture capital funding. However, you are about to finalize contracts with several Fortune 50 companies that will position the company to go public, making you so rich that you will never have to hail a cab again in your life. A problem arises, however, when your internal audit department uncovers that a former employee has downloaded information on thousands of customer credit cards to a USB flash drive and is now attempting to sell the information on the “dark web.” If you disclose this to your customers, you are pretty sure the pending deals will fall through and your company will fail. If you don’t disclose, you believe it is likely that no one will learn where the stolen information came from. What should you do?
Step by Step Answer:
The Law Of Governance Risk Management And Compliance
ISBN: 9781454881988
2nd Edition
Authors: Geoffrey Parsons Miller