16 Jul 2022

158

Risk Identification and Assessment: The Process of Identifying and Assessing Risks

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Academic level: College

Paper type: Essay (Any Type)

Words: 416

Pages: 1

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Domestic terrorism is the type of terror targeted towards citizens or victims within a country by an individual with the same citizenship as the victims. The Sovereign Citizens do not have to answer to the government which includes not paying taxes. They also engage themselves in other criminal activities which involve threatening judges and police officers; they make fake money orders, personal checks which take place at government agencies, banks, and businesses. 

In my opinion, domestic terrorism should be taken seriously as the citizens in the countries are the ones who suffer most when the sovereign citizens decide not to follow the laws put in place by the government. In this case, the government should avoid building capabilities and measures by itself because this has not been successful; the most effective way would be to support state, local, non-governmental and private terrorism sectors. With combined effort from different bodies, they should be in a position to overcome domestic terrorism. 

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Security badges in federal buildings are vital since they assist in the identification of the members who are allowed to have access to their designated federal buildings. However, this system has a weakness in that individuals who would like to have access to these buildings have the capability to engage in identity fraud, tampering and counterfeiting without anyone noticing. In my opinion, any employee unfit to work in the company should be requested to return every possession attained during their time in the organization. The company should also improve their record keeping so that if a person has stopped working there, they should not be allowed access. 

TIGTA is a department of the Treasury which can gather any revenue owed to the Federal Government. They make this possible by protecting the integrity of the IRS and they also identify and prevent fraud and misbehavior within the IRS programs. My thoughts on this are that even though the Sovereign Citizen movement indicates that the Federal Government is operating away from its jurisdiction by introducing TIGTA, I firmly believe that the Government has made the right choice because many of the TIGTA’s investigations have been successful leading to Federal prosecutions. 

Fraud has become a significant issue in today’s world, and the government is implementing many measures to fight it, which includes the signed law in 2016 of the Fraud Reduction and Data Analytics Act. Even though some agencies are grappling with the implementation of the new law, it is essential for them to stay safe from the fraud risk. In my opinion, fraud can happen both externally and internally, and the organization is responsible for ensuring fraud risk management at different entities within an organization which will see to it that the company is safe from any fraud. 

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StudyBounty. (2023, September 17). Risk Identification and Assessment: The Process of Identifying and Assessing Risks.
https://studybounty.com/risk-identification-and-assessment-the-process-of-identifying-and-assessing-risks-essay

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