Cyber Security

8 Pages 1893 Words

Cyber Security and E-Commerce
Many businesses in today’s financially competitive corporate world rely heavily on e-commerce to survive with their markets. Companies such as Ebay, AOL, Amazon, and Yahoo, are e-commerce-based on rely solely it solely for their revenues. With this in mind, this issue of cyber-security is tied directly in link with the business that sell using e-commerce and the customers who buy their products; as is the threat of cyber terrorism, which has the ability to disrupt e-commerce servers, steal consumer information, and essentially cause economic chaos throughout the e-commerce world. Many serious issues exist within this link, most of which deal with the safety of making purchases over the Internet.
Many e-commerce customers have major concerns with the fact that their billing information my be intercepted while in transit over the Internet. Many questions have been raised as to whether or not personal information is encrypted, and moreover, whether the encryption stays encrypted. In relation to this, In a February 10, 2003 article from Indian Express Newspaper reports, “A recent survey has shown that of the total online assessors, only 43 per cent are online buyers, the rest are concerned about security and privacy of their personal information, especially their credit card number. Does this mean that those who are transacting, on the Internet are ignorant about the risk? Banks offer electronic funds transfer service; do they offer an assurance that customer's account will not be debited without his consent? How can we have an assurance that the cybershop-keeper and its staff will not misuse our credit card number?”[2]
In answering these questions, in an article from the Kauffman Center for Entrepreneurial Leadership, Edna Sarty reports, “Despite industry growth, consumer concern over Internet security is very strong, limiting the potential of e-commerce. Internet security problems have a neg...