E-Commerce Threats Essay Example

Introduction Barriers to entering e-commerce are comparatively low, but new opportunities can be accompanied by new risks. Risk assessment means listing all of the risks a business might face and assigning varying degrees of importance to them. Risk management means prioritizing these risks and formulating policies and practices to balance and mitigate them. Every business can benefit from conducting a risk assessment of their e-commerce systems, although smaller businesses may not need to implement some of the more sophisticated techniques described in this guide. Under written are the risks that you need to be aware of or ask your e-commerce developer about. It also explains how risk assessment and management can help in recognizing and quantifying the risks and how to balance them against the potential gains. However, e-commerce has unavoidably invited its share of trouble makers. As much as e-commerce simplifies transactions, it is occasionally plagued by serious concerns that jeopardize its security as a medium of exchanging money and information. Identifying risks in e-commerce Today's threats to e-commerce systems include: Physical threats - threats posed to the IT infrastructure by, for example, fire or flood. Data threats - threats posed to software, files, databases, etc by viruses, Trojans and so forth. Errors by people, eg employees clicking on links within messages received on social networking websites that are found to be malicious or the accidental deletion of data by an employee. Technical failure, eg software bugs. Infrastructure failures, eg server crashes. Credit card and payment fraud. Malicious attacks from inside or outside your business. Hacker threats should your computers become part of a larger group of infected, remote-controlled computers known as a botnet. Typical threats to e-commerce systems Risk to corporate information and