DOJ seeks to compel Facebook docs in case involving alleged tax dodge worth “billions”

first_img Posted on 9th July 2016Digital Marketing FacebookshareTwittertweetGoogle+share DOJ seeks to compel Facebook docs in case involving alleged tax dodge worth “billions”You are here: Earlier this week the US Justice Department asked a judge in San Francisco to compel Facebook to produce internal documents tied to a 2010 asset transfer to the company’s Irish subsidiary. For several years the IRS has been investing whether the social site understated the value of those assets by billions of dollars.The company transferred rights for its global business, outside of Canada and the US, to Ireland. The rationale for the transfer is tax avoidance. Ireland has comparatively low corporate tax rates.Accounting firm Ernst & Young valued the assets during the process. The firm may have used a formula that dramatically undervalued those assets being transferred.Facebook denied that it violated any laws in the matter. However, according to the court filings and published reports, Facebook has declined to produce the requested documents to the IRS. The statute of limitations on the alleged tax avoidance maneuver runs on July 31 — hence the legal action.Facebook, Amazon, Apple, Google and other US tech companies have been accused, predominantly in Europe, of using Luxembourg and Ireland as tax havens to avoid paying taxes in higher-rate jurisdictions. In the recent past, political and legal pressure and negative PR have generated payments and promises from the companies to change accounting practices in some cases.From our sponsors: DOJ seeks to compel Facebook docs in case involving alleged tax dodge worth “billions” HomeDigital MarketingDOJ seeks to compel Facebook docs in case involving alleged tax dodge worth “billions” Related postsLytics now integrates with Google Marketing Platform to enable customer data-informed campaigns14th December 2019The California Consumer Privacy Act goes live in a few short weeks — Are you ready?14th December 2019ML 2019121313th December 2019Global email benchmark report finds email isn’t dead – it’s essential13th December 20192019 benchmark report: brand vs. non-brand traffic in Google Shopping12th December 2019Keep your LinkedIn advertising strategy focused in 202012th December 2019last_img read more

Never Forsake the Fundamentals of Security – Part 1

first_imgRisk ManagementThe evolutionary nature of cybersecurity requires professionals to focus on a multitude of criticalities. We must chase technology innovations, develop novel risk theories, seek insights into evolving threats, institute new controls practices, and push the boundaries of capabilities, cost efficiency, and relevancy outward in the pursuit of better computer security. It is a never-ending race to maneuver for an advantage, driven by both valid concerns and irrational fears. Some paths we take are worthy and many are not. In this pursuit, we risk being distracted from the fundamentals of cybersecurity.Certain aspects of security will always hold true. They are based upon the nature of adversarial conflicts and persist over time. Attackers and defenders. Predators and prey. Security professionals must be vigilant in following these timeless concepts and how they specifically apply to cybersecurity. We must not allow ourselves to be distracted and forsake the basics of protecting computing systems, information, and services.Risk management leadership, understanding the changing threat landscape, and establishing effective controls are fundamentals which drive the way security is perceived and how problems are approached, evaluated, and solved.Three Tips for Stronger Risk ManagementThe very best security organizations all have one thing in common: A leader capable of navigating, commanding, and delivering results. Cybersecurity is difficult and ever changing, so strong risk management leadership is crucial. The security mindset drives action and is essential to every organization serious in defending its electronic assets, capabilities, and sovereignty. Seek optimal risk. Security comes at a cost — attempting to eliminate all loss is not realistic. Identifying the right tolerance of risk is challenging, but necessary to define success. There are tradeoffs to consider in that the triad of risk, cost, and productivity must be balanced. Investments in controls must be rationalized against the costs to acquire, integrate, and sustain capabilities, and also tempered against the user impact and productivity impediments which may be introduced.There is no room for superfluous activity. This is a race, best run with minimal burden and by relentlessly following security basics, leveraging best practices from across the industry, and developing a highly adaptive set of capabilities. Attackers maintain the initiative and are the genesis for the justification to invest in defense. By its very nature, security is responsive and must remain very flexible to adapt to the maneuvers of the threats. Take a lesson from the Maginot Line of World War II. It nearly bankrupted the country only to result in a fixed fortification that did little to protect the nation from invasion. Security must be fluid and not waste time, energy, credibility, or resources on expensive missteps.Keep morale high. Security can be unforgiving for practitioners, viewed as a cost sink by management and an unnecessary nuisance by users. The deck is stacked against us. Deal with it and don’t let that stop you or distract your focus from consistently following good practices. There is no finish line. Communicate up to executives, down to operational teams, and across peers as necessary to gain lasting support, confidence, and cooperation. It is a continuous state of effort, just as quality or customer service requires relentless dedication. Stay rational, settle in, build teamwork, and get comfortable!Proactive management built around strong communication is the cornerstone of establishing a capable, sustainable, and balanced security capability. When you prioritize understanding the complexities and chaos of the threat landscape, as well as establishing effective controls, you will be on your way to properly fortifying your enterprise.In next development of my series on the fundamentals of security, I will discuss threats and how they ultimately drive the needs and requirements necessary to achieving an optimal level of risk. Stay tuned to the IT Center for part two.Twitter: @Matt_RosenquistIT Peer Network: My Previous PostsLinkedIn: Blog: Information Security Strategylast_img read more