E-Commerce has been a popular activity on the Internet, for it facilitates commercial acts between online service providers and individuals. The popularity of E-commerce could be reflected by the turnover of the industry. The turnover of e-commerce in Europe grew by 14.3% to reach 423.8 billion euros (about GBP 360.5 billion) in 2014, and that of the United Kingdom (UK) increased by 14.7% and reached 127.1 billion euros (about GBP 108.1 billion) in the same year (Ham, 2015). Important private information (e.g., bank information, gift card numbers) would be recorded while consumers doing online shopping and doing other E-Commerce activities. This recorded information would be stored on the servers of online dealers or be saved in consumers’ …show more content…
In order to prevent personal data such as bank information from being intercepted, Data Protection Act 1998 (‘the Act’) has been issued by the UK Parliament. According to the Act, doing Cyber-theft for the commission of a relevant offence (e.g. bank theft) are considered as a criminal offence and could be sentenced for five years ' imprisonment (Mobbs, 2003, pp.5–6). Cyber-thefts, however, are not being extinguished under the force from the Act. According to the Crime Survey for England and Wales (CSEW), there are 2.5 million incidents of computer misuse (including unauthorised access to personal information and computer virus) reported in England and Wales during the 12 months before 14th August 2015 (TNS BMRB, 2015, p.21), and 3.1 billion pounds per year was estimated to be cost by UK citizens on Cyber-crime (Cabinet Office and National security and intelligence, 2011, p.18). In order to keep the pressure on the Cyber-crime, the British government issued a policy paper of National Security Strategy in which they defined cyber-attacks as a ‘Tier One threat’ to the national security, alongside international terrorism (Cabinet Office, et al., 2015, no pagination). Security of E-Commerce is at the cutting edge of future commercial activity. Internet service providers and personal users are both waiting for the implementation of anti-cybercrime policies in order to protect their information from being trespassed.
Apart from the public force from
It’s no secret, the internet sensation has made many people redundant, however, over the past decade this global phenomenon has seen the birth of over 1.2 million jobs, dawning a new era for humanity. With rapid developments occurring in the design, development and implementation of technological discoveries. Traditional legal principles and processes are constantly challenged by the need to keep pace with new technologies. in particular, identity theft has skyrocketed since the rise of the internet; a 2012 survey conducted by the Australian Bureau of Statistics revealed 7% of respondents were directly affected by identity crime in the preceding six months. Identity theft not only affects Australian citizens it’s also a cancer to national security, in order for the government to beat this epidemic it’s imperative that harsher punishments are imposed on cyber criminals.
It is the first time, cybercrimes have been added to the official crime survey of ONS for England and Wales. If cyber-related crimes are excluded from the overall figure, crime rate is 6% fewer than in the previous year. This information attests to the great bulk of cybercrime incidents in the country.
There are many countries where terrorist activities are simply a part of life and where criminal activities are commonplace. Even in well-developed countries there can be problems. One of the most insidious of these activities, however, is cybercrime. It may seem less dangerous because it is not physically damaging to the person who is being targeted, but gaining access toa person's private information can cause serious damage to that person's good name and reputation, along with his or her credit, ability to obtain employment, and other parts of life. Something has to be done, but by the time issues are corrected there are new issues appearing. It can feel like a losing battle. Because of constant technological change, new challenges are arising regarding information access and privacy.
In 2013, 50 major global organizations reported that 63,437 security incidents and 1,367 confirmed security breaches had significantly impacted their business. [cite] Even more staggering, over 100 million Americans—that 's 1 out of 3 citizens—had their credit or debit card information pilfered by hackers over the course of 4 data breaches between 2013 and 2014 [cite], with confirmed evidence that breaches of this type are increasing. These statistics show that there are serious problems now existing in the realm of information security and the internet. However, it is undeniable that society today is largely dependent upon the technology that handles our information along with many facets of society such as social media that would leave us completely non-functional without technology. Consequently, there is an ongoing debate about the issues of information security and how to solve them. Some people believe it is the simple matter of installing security programs on their devices, or using a network that its proponents have labeled it as 'ultra-secure ' to solve the problem. On the other hand, others believe that these are information security issues that, given technology today and in the future, will never have a permanent solution.
When talking about cybercrime, we need to understand why it has become a big issue and how it affects all of us and our daily lives. In today’s society, a considerable amount of our daily activities are done over the internet including some on public sites such as social media and others behind password protected portals such as our online bank accounts. We communicate, shop, socialize, and control or manage most of our devices over the internet. With all this information available via the internet it becomes a treasure chest for cyber criminals filled with valuable information that can be stolen. Cybercrime is a
Consumer confidence over the retention and use of their personal information is of utmost importance to the future of e-business.
“The web is the ultimate customer empowering environment. He or She who clicks the mouse gets to decide everything. It is so easy to go elsewhere; all the competitors in the world are but a mouse click away.” Jacob Nielsen, Designing Web Usability. There are many Pros and Cons when it comes to e- commerce. The use of the internet e commerce has grown drastically in recent years. E commerce is the buying and selling of goods and services on the internet. Even though there are tangible privacy and security issues that keep people on guard, consumers face a dilemma each time they need to divulge highly personal information online, the ability to provide secure shopping transaction via the internet and
In today’s generation, the complications that come along with cyber security are no longer just for the technologically advanced population; it is everybody’s concern. Whether you work in arts, military, media, and even business – this is an essential part of our lives that we should inspect carefully. A report published by Researcher Riley Walters states that a survey by the Ponemon Institute showed “the average cost of cybercrime for U.S. retail stores more than doubled from 2013 to an annual average cost per company of successful cyber-attacks increased to $20.8 million in financial services, $14.5 million in the technology sector, and $12.8 million in communications industries.” There were cyber-attacks earlier this year which led to the leak of eBay employee log-ins, allowing access to 233 million eBay accounts. Cyber-attacks like these are almost impossible to detect, and there are no measures to recover from them. With the increasing number of computers, cybercrime is also on the rise, hence close attention is recommended to protect personal information.
The development of any society is accompanied by a unique pattern of crime. The innovation of digital technology came to us as a blessing but not without its’ dark side. This innovation brought about novel challenges popularly referred to as cyber-crime. Policing the prevalence of cyber-crime and its threat to electronic commerce has been of great concern to all government.
In 2013, online retail spending are estimated to reach $1.3bn, up 19.2% in 2012. In this global market, Asia accounts for 33% of the market, followed successively by North America with 31.5% and Western Europe with 25.7%. On average, online retail spending grew by 21% a year between 2011 and 2013, with the main growth being located in the Middle East with 37% average growth and the Asia-Pacific region with 32%.
Electronic commerce, more commonly abbreviated as e-commerce, is the action of buying and selling products or services through the medium of electronic information systems such as computer networks - the most common of which being the World Wide Web, or internet (Dorogovtsev & Mendes, 2003). A variety of technologies are used to facilitate e-commerce including electronic funds transfer (EFT) which facilitates the electronic exchange of money, online transaction processing (OTP) which handles the data entry and retrieval for transaction processing and electronic data interchange (EDI) which is responsible for processing orders, warehouse stock control and order tracking (Turban, et al., 2009). Today has become a vital component of the
Security issues that are associated with conducting business over the internet and the methods that are used to combat this security
Electronic commerce or e-commerce is a term for any type of business, or commercial transaction, which involves the transfer of information across the Internet. It is often associated exclusively with online consumer shopping, but the term extends beyond that category. Additional businesses covered under the umbrella of e-commerce includes online auction sites, such as EBay, and businesses that exchange both goods and services.[3]
The buying and selling of products and services by businesses and consumers through an electronic medium, without using any paper documents. E-commerce is widely considered the buying and selling of products over the internet, but any transaction that is completed solely through electronic measures can be considered e-commerce. E-commerce is subdivided into three categories: business to business or B2B (Cisco), business to consumer or B2C (Amazon), and consumer to consumer or C2C (eBay). also called electronic commerce.
Electronic commerce or ecommerce allow consumers to exchange goods and services. Most business or companies are using this service to reach their customers. Ecommerce have expanded rapidly over the past few years and it is still expanding widely. As we can see nowadays, lot of companies are investing more money on ecommerce to expand their business because they can see that the business can reach international market and make more profit [1][2].