Risk Factors in E-Commerce
With more and more of consumers purchasing items over the internet and relying less and less on brick and mortar store, e-commerce has been a lucrative target for criminals. There is relatively less risk in being caught and prosecuted if a criminal targets potential victims through e-commerce. Crimes committed over e-commerce channels require specialized training to investigate and have the potential to over numerous agencies, jurisdictions and even countries. This crossing of judicial and governmental jurisdiction can often impede the investigation or even prevent prosecution. There are several other risk factors that effect e-commerce. The most critical risk factors have been identified in the areas of availability, performance, scalability, and security.
If your website is down, then you are not doing any business. The availability of your site is critical to your business reputation and ability to sell its services. Does the organization have the ability to quickly and effectively manage or mitigate issues that affect its availability? A developing trend for criminals is to perform a denial of service attack on a business. This is when a hacker has the ability to block access to your website. The hacker can either deny your ability to access your systems, deny consumers from accessing your system or both. Some organized crime elements have used this method to extort funds from business in order for the business to access their site. It is essential for business have the ability to mitigate the effectiveness of these attacks.
Performance of your site has to be up to par with your competitors. If your site is slow or reacts erratically, it is unlikely consumers w...
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...me type of finical assistance or insurance to help cover the expenses of breaches to your network or lose of consumer personal information?
Businesses today understand the importance and financial gains of e-commerce. That is why business invests heavily to ensure the consumers safety and build confidence in e-commerce. Dispute the numerous security measures and protocols, it is essential for business and consumers to stay aware of potential risks. The sad reality is that e-commence risk prevention is more reactive and proactive in nature. The safeguards in place are usually reactions to successful breaches.
Works Cited
Laudon, K. C., & Laudon, J. P. (2011). Essentials of Management Information Systems. Saddle River, New Jersey: Prentice Hall.
Stout, G. (2011). Critical Risk Factors in an E-Commerce Enviroment. Rackspace Knowledge Center .
Saunders, C. S., & Pearlson, K. E. (2009). Managing and Using Information Systems. John Wiley&Sons, Incorporated.
E-commerce is an emerging area that encompasses the process of indirectly or directly buying, selling, trading products and services electronically (Yasin, Mario, Czuchry, & Lisboa, 2010). As a result of market placement advancements in the realm of technology, there have been a growing number of organizations that have re-engineered the way in which they operate so as to maintain consistency with the emerging e-business model. The internet has been growing at an unprecedented rate, and as such, the facets of the way organizations perform e-commerce has been changing to meet economic demands. One of the most important factors for an organization is to understand what contributes to effective e-commerce as this provides them a competitive edge. According to a study conducted by eMarketer Inc, the internet has become a dynamic virtual medium for buying and selling services and products and sales have been approximately 32.4 billion in both the public and private sectors in 2005 (eMARKTER INC, 2006). This paper will briefly explore the importance of Canadian e-commerce by closely examining the key trends.
In the business world today, technology is becoming an essential staple. Every big business relies on it one way or another. More importantly than just technology itself, the use of management information systems is what guides a company in terms of catering to its customers and knowing what moves to make next. Management information systems (MIS) can be defined is the study of people, technology, and organizations (What is MIS?). However, that is a very general definition because there is a lot more that comes out of the use of these MIS systems.
The digital era arrives. Blue Book information editorial board and Social Science Literature Publishing House (2010) pointed out that “China's e-commerce transaction volume reached 3.85 trillion yuan in 2009”. Utilisation of e-business services was also high amongst Hong Kong people. About 98.3% of all persons had used e-business services such as Octopus Card and Automatic Teller Machine (Census and Statistics Department, 2009). One of the pitfalls for the development of e-business, however, is the concerns on consumer privacy. According to Green’s (1999) survey, 54% of respondents had decided not to purchase a product because of a concern on overuse of personal information collected in the e-business transaction. This essay examines the circumstance on protection of consumer privacy in e-business. As e-business is surging by astronomical number and consumer information is a kind of property, the protection of consumer privacy in e-business becomes significant. This essay begins with the causes of the problem, and then move on to analyse the effects. Lastly, the essay concludes with the solutions to the problem.
The ability to conduct warfare through technological methods has increased information security awareness and the need to protect an entity's infrastructure. Subsequently, cyber warfare produces increased risk to security practitioners that employ technology and other methods to mitigate risks to information and the various systems that hold or transmit data. A significant risk to information lies in the conduct of electronic commerce, hereinafter called e-commerce. E-commerce is the purchasing or selling of goods and/or services through the internet or other electronic means (Liu, Chen, Huang, & Yang, 2013). In this article, the researchers will discuss cyber warfare risks, present an evaluation of established security measures, identify potential victims of identity theft, and present an examination of the security of e-commerce companies....
Every day millions in some cases billions of dollars are made by businesses from income brought in by online sale of products and services. As businesses continually develop and expand their client base with online products and services so does the desire by criminals to exploit vulnerabilities in their e-commerce setup. The mass worldwide internet usage growth within the last 20 years has been “an approximate 16 million users in 1995 to an estimated 2,937 million in March of 2014” As the importance of e-commerce increases so does the need to protect the technological infrastructure that will carry out online transactions for each business regardless of its size. I will attempt to highlight and review the history of a few cyber crimes to show the progression of the crimes within the last 30-40 years. I also plan to review how the economy and consumers are impacted by cyber crimes. Finally I will make an effort to contribute with information gathering on how to lower the risk of a cyber attack from and individual user to a large scale business.
To combat those threats and ensure that e-business transactions are not compromised, security technology must play a major role in today's networks. Why Networks Must Be Secured? Attacks: -. Without proper protection, any part of any network can be susceptible to attacks or unauthorized activity. Routers, switches, and hosts can all be violated by professional hackers, company competitors.
Ackoff identifies five assumptions commonly made by designers of management information systems (MIS). With these assumptions, Ackoff argues that these assumptions are in most cases not justified cases, and often lead to major deficiencies in the resulting systems, i.e. "Management Misinformation Systems." To overcome these assumptions and the deficiencies which result from them, Ackoff recommends that management information system should be imbedded in a management control system.
The Information revolution is changing our daily lives. With the rapid development of computers and the internet, online commerce has become quite common and plays an important role in the modern world. Online business has been booming in recent years. US online retail sales rose an average of 11% in the first three months of 2009 (“US Online Sales Up,” 2009). The growth of online sales may be due to the growing number of consumers who shop online.
Recently, the Internet has become the most significant technology in all over the world, which is not only used by the people to contact with each other but also utilized by the business organizations to become global (Taylor, Caeti, Loper, Fritsch & Liederbach, 2006). Computer and internet enable the business organizations to execute the Electronic commerce business model, which has become very popular. Computers and Internet are a powerful source in the success of globalization and international business. Computers are being used worldwide and due to this, cyber crimes are increasing continuously with a rapid growth (Cheeseman, 2006).
Laudon, KC & Laudon, JP 2010, Management Information Systems: Managing the digital firm, 11th Global edn, Pearson Education, Inc, Upper Saddle River, New Jersey.
Moreover, E-commerce has widely recognized nowadays among people. Therefore such data should be secure in databases and privacy of data should be maintained.
The purpose of risk management is to protect an organization’s valuable assets information, hardware, and software. The purpose of risk management process is to identify and manage risks in such a way that a company is able to meet its strategic and financial targets. Risk management is a continuous process, by which the major risks are identified, listed and assessed, the key persons in charge of risk management are appointed and risks are prioritized according to an assessment scale in order to compare the effects and mutual significance of risks. It is very important that the organizations and business to be very well prepared to see what kind of risk we are facing, or the business can suffer in case of a major disaster.
Laudon C. & J. Laudon (2003: 5th edition) Essentials of Management Information Systems. London: Prentice Hall International Limited
There are different groups, from law enforcement agencies to the U.S. Secret Service, that are attempting to combat the problem through cooperation and preemptive efforts. If these groups combined with the public to protect themselves and the country from criminals that commit cybercrime, the nation’s network and technology servers would be much safer for technology users. Clearly, cybercrime is a problem because it puts internet users at risk of being taken advantage of or harmed. The advantages of technology and the internet have led more criminals to use cyberspace to commit crimes. The threat of cybercrime is increasing as globalization continues to spread across the world.