E Commerce Security Threats And The Solutions Essay

This paper is about E-Business / E-Commerce E-Trust, E-Security, & E-Privacy. The main topics that will be discussed are mainly from the consumers standpoint, but also a little from the E-Business and E-Commerce standpoint as well. The scope of this paper does not include details on how to establish security nor address privacy concerns.

Cyber security threats change quickly as Internet increases, and also the related dangers are getting to be progressively international. Being covered against cyber security threats requires almost all end users, actually the most complex versions, to know the particular threats in addition to enhance their particular safety measures with a continuing foundation. On April 28, 2014 President Obama has declared that the “cyber threat is one of the most serious economic and national security challenges we face as a nation” and that “America 's economic prosperity in the 21st century will depend on cyber security.” The internet enables and also helps people in a many ways and a example is collect, store, process huge amounts of data, which includes vulnerable data of small business, transactional and personal. Everything in this world is based on internet now a days.

The proficiency and efficacy of the cyberspace in its application in accounting, finance, system designs, manufacturing etc., cannot be denied nor neglected. The reality of the twenty-first century is simple; no organization can survive without the adoption and implementation of the mechanism of information technology to their area of business. On the contrary perspective, there are several challenges that are associated with the cyberspace, among which is majorly cyber security. Recently the hackers’ activity has really skyrocketed and has become a major concern for organizations, states and federal governments and even international organizations. Several regulatory schemes are put in place to mitigate the activities of hackers across the globe.

Some security risks involved with conducting business online are imposters, eavesdroppers and thieves. Also, there are crackers or hackers, which are people who write programs and manipulate technologies to obtain unauthorized access to computers and networks. The elements of computer security are secrecy, integrity and necessity. Secrecy is protecting against unauthorized data disclosure. Integrity is preventing data from being modified by someone who is unauthorized and ensuring that the contents of emails aren’t changed before they get to he recipient. Necessity is preventing data delays or denials. It is important to establish a security policy to protect assets, to define acceptance and unacceptable behavior and to review physical and

“Modern economies are highly dependent on information systems and networks connected to “cyberspace” a virtual world with a population of several billion and growing.”

On January 2014, Michaels an art and craft retailer and its subsidiary Aaron Brothers, revealed that costumer information database consist of payment card number and expiration date been compromised. Costumer using credit or debit card at Michaels in between May 8, 2013 to Jan 27, 2014 compromised 2.6 million cards and at Aaron Brothers in between June 26, 1013 to Feb 27, 2014 been compromised 400,000 cards. The company committed to work with other parties to improve security of payment card transaction for all consumers.

I will then prepare a presentation that describes the kinds of actions that various organisations take to reduce security risks from operating online. I will then explain the competitivepressures on selected contrasting businesses organisations to develop their use of e-business. I will then take two contrasting businesses and explain using examples, how they have responded to competitive

One important part of E-Commerce is maintaining stringent site security, confidentiality for the customers, integrity, and availability, also a secure system must contain authentication verification of the user, Authorization, allowing manipulation of the resources in a specific way and Encryption for records and transactions.

E-commerce applications require critical networks to accommodate video, voice, and data traffic as the numbers of users increase the need for greater performance and support is necessary. As a network in a company enables more applications and are available to more users, the applications become more vulnerable to security threats. To ensure e-commerce transactions are not compromised security technology play a major role, and there are four categories that must be addressed:

In this era of globalization and cut-throat world of competition, it is virtually impossible to do business without using the internet and web applications. Internet gets used for processing the credit card or debit card sale and even for using to save the data of customers to the merchant’s database for future reference and to send promotional offers to the previous and patron customers. And on the other hand, hackers are trying their best to get the data stored on the merchant’s server by spoofing

Security of transactions is critical in building the confidence of customers in a specified e-commerce site. This security depends heavily on an organization 's ability to ensure authenticity, availability, privacy, integrity and disruption of unwanted intrusions. Malicious program known as sniffer programs often disrupt the privacy transactions especially when one uses unauthorized networks. They are found at network connection end points. When transactions are carried out, confidentiality is necessary thus it requires removing of any data showing transaction paths. This has become a common problem in the e-commerce sites.

Book Bunker’s interest in accepting payments online also requires knowledge regarding online security. Online security is vital to an e-commerce business, because customer information, as well as transaction information is available to hackers if the correct security protocols are not implemented. Creating a secure online environment for Book Bunker customers can be done through various security features such firewalls, software, and a secure e-pay service. Security protocols should be implemented prior to the online payment system being activated, to ensure the customer information and transaction records are protected. The acceptance on online payments will also require preparation, such as creating a merchant account, choosing a service, and imbedding the service on the Book Bunker website. Implementation can be time consuming, but the result will be increased revenue for Book Bunker, because customers will not be deterred by the requirement to complete sales over the phone or in the store.

The use of the internet for e-commerce transactions is transforming the way people around the globe purchase goods and services. While brick and mortar businesses struggle to keep their doors open, businesses are responding by moving their goods and services online to reach the widest base of consumers possible. In order to protect businesses and consumers, legal protections must be created and enforced. Providing of overview of three of these protections along with proposing solutions to enhance the protection of e-commerce transactions will show the necessity of these legal protections.

Since eBay is a huge, widely used company that is constantly in the public’s eye and has a worldwide reach, I thought it would be an adequate choice as a global transnational corporation that I would create a preparedness plan for, predicting three possible crises and appropriate responses, protocols and planned messages for each scenario. The first crisis to plague this company is that the site goes down. The second crisis is that eBay’s secret partnership with data brokers is exposed, and the final crisis is that terrorists hack into the site and cipher private member information. This essay will attempt to combat the crises and lessen the blow of actual damages inflicted to the company.

Their operations are very slick and swift such that stolen data is quickly exploited within seconds of being submitted by unsuspecting victims. Since 2005, over 400,000 databases have been compromised since 2005, and thousands more have gone unnoticed or reported. About 40 percent of those involved in IT security have no fixed figure on the number of hackings their companies have experienced. One of the rapidly increasing areas of ecommerce is in the use of web-based applications to replace traditional over-the counter transactions. Hackers have expectedly, latched on. According to a study by Gartner, over 75 percent of Internet security breaches are due to flaws and loop holes in software. The reason for this is that, applications are normally designed and put together quickly to get the system running, and no time is spend analyzing and assessing security implications. As computer hackers continue to step up their operations in line with technology advancements, the securities and future industry recorded a 150 percent increase in the number of suspicious activities detected by their systems. During the same time, research carried out at the University of Maryland indicated that a computer connected to the Internet was subject to an attempted hack every 40 seconds. The battle between ecommerce websites and consumers wages on, according to an independent analyst, ‘consumers are losing a tug of war.’ Simon Smelt, an economist who runs a survey company