But online shopping still attracts more and more customers. New policies and regulations have been formulated to deal with security issues. Credit card transaction processing and e-checks have been put in place. Unfortunately these are often only implemented by the major players. Merchants that have various online shops still need to make sure their software providers for shopping carts and other online shopping software match the security guidelines for online transactions.
One benefit of e-commerce is automation. E-commerce automation has the ability to perform a number of transactions at the same time. The disadvantage is the enormous traffic that these sites have and the failure of some sites to watch out for any suspicious activities. New effective method of identifying e-commerce fraud is analyzing patterns. Credit card theft is rampant on the internet and e-commerce is being affected by this as well.
Just losing assets is one of the consequences of cyber crime in e-commerce. Whether the attacker is inside or outside the organization, most of the time victims suffer from negative publicity. This can harm the organization's fame and reputation very badly, erode business relationships with the customers and other stakeholders and reduce the amount of potential revenue.
Gunnar Andreassen, an Norwegian online entrepreneur, is frustrated not only by the widespread hacking, but also by lacking law enforcement countermeasures on hacking. One of his websites, AppleShopaholic.com has had over 2.700 hacking attempts in just 12 months!
Due to this ever present array of cyber threats, it is very important for e-commerce websites to develop a cyber-defense program that will interlace preventive measures into the e-business operations stuff. But only prevention is not enough.
Along with prevention, a defense program should also be developed for detection; because, if you cannot detect the attacker, how will you prevent the attack? The detection process should be like a sound forensic incident response process.
However, website owners should not be deterred by hacking and shopping cart fraud. The right anti-hacking software and third party internet payment solutions for secure transactions should make both website owners and online customers safe.
http://www.examiner.com/article/hacking-an-increasing-problem-for-e-commerce
