Olivia is the CEO for “Freedom Enterprises,” a financial services conglomerate with over 10 billion in assets. Among Freedom’s primary businesses are banking, health insurance and property and casualty insurance. Olivia comes to your office seeking counsel relative to certain events that have transpired over the past few months at Freedom.
Freedom recently fired an employee over an email that was intercepted by Freedom’s Information Security Team. Freedom has a written policy that states that it does not monitor employee email or internet usage. Although all employees are provided with a company email address, the email in question was sent through the employee’s personal Yahoo account to an unidentified third party. The employee accessed his personal email through a company issued laptop via the company’s internet service provider.
The email stated the following:
To: “Mr. X” [email protected]
From: “Alex Young” [email protected]
Hey X, nice meeting with you yesterday. To follow up on our conversation, I have managed to find the information you were requesting:
- I attached a file listing all policyholders living in New Tudor. The document lists all policyholders by first initial and last name, address, policy number and phone number.
- I attached a second file, which lists 30,000 Social Security Numbers. As we discussed, we will split the money after you sell them. What did he agree to? $1 per SSN? I can also confirm that on 5/1/2018, Freedom disclosed the attached 30,000 SSNs to “System F Industries.” Our regulators are sniffing around this a bit but I wouldn’t worry about it because our Board of Directors ran it though our outside counsel before signing off on it.
- Stop worrying! Our Human Resources and Information Security Team is a pretty incompetent group. There is no way they read any emails that employees send. They don’t check to see if we wear our badges. They don’t even have a written information security policy! I have done deals like this many times so don’t be worried, I have everything under control. In fact, many of our employees have a little “side business” going on with all the data we keep. It is obviously very profitable. We need it with the lousy salaries we get here anyway.
- I was told by Freedom’s Senior Vice President to hack into the IRS’s database and uncover their algorithm for determining which businesses to audit. I just cracked it yesterday and I am sending it to you first. I am sure this will be very valuable on the market. As discussed, we will split the profits once it is sold.
Senior Regulatory Analyst
Olivia is obviously concerned with what liability or sanctions may be imposed on Freedom. Your supervising attorney asks you to prepare a memo discussing all potential privacy-related issues in Freedom’s case. Please advise your supervising attorney on the likely outcome of each issue, and cite appropriate authorities.
0, Maduro initiated an increase in the national minimum wage. The minimum monthly salary earner is currently receiving 250,000 bolivars (£2.80) , a 67% increase from the previous minimum wage – 150,000 bolivars. Alongside this, he implemented a food bonus of 200,000 bolivars (Quartz 2020) – that goes for individuals who are actually employed. It was predicted that Venezuela’s unemployment rate would have reached 50% by this year.. Venezuela’s unemployment rate – referring to the segment of the labour force actively seeking and able to undergo employment, without work – was forecasted to be 44.337% during the December period of 2019. An almost 10% increase since the year prior illustrating the apparent negative impact inflation has on employment (CEIC 2019). In the short term, individuals are likely to supply labour despite the acceleration in inflation due to the higher wages. According to the Phillips curve, inflation and unemployment maintain an inverse relationship meaning low levels of unemployment correspond to higher levels of inflation and high unemployment corresponds to lower levels of inflation – potentially deflation. Logically, this makes sense as high unemployment would put a downward pressure on prices of goods and reduce inflation. This is because a lack of income makes excess expenditure less permissive. However, in the case of Venezuela, it differs. Venezuela is undergoing extremely high inflation as well as relatively high unemployment rates. When unemployment is high, the supply for labour is traditionally greater than the demand for it, as the number of individuals seeking work significantly exceeds the number of jobs available. Therefore, increasing wages as a means of employers bidding for the service of employees is unnecessary – and so wages remain stagnant during inflation periods. As Venezuela demonstrates, an economy can encounter high inflation alongside low economic growth at one time. Several technical explanations can be proposed with regards to why the country’s economic growth is in deficit. A primary one being the concept of demand-pull inflation which comes about as a result of the demand for goods surpassing the supply available. However, no fundamental increase in aggregate demand was displayed in the case of Venezuela. Instead, the supply fell considerably short. The lack of foreign currency reserves lead to the inability to import fu>GET ANSWER