Threats to E-Commerce
E-commerce has become one of the most flourishing businesses with the widespread use of smartphones and internet. The world seems to have shrunk virtually with the increased use of internet and Internet-enabled applications. Everything is going online these days starting from basic things such as shopping to consulting professionals like doctors, engineers etc. The virtual world has it all. E-commerce has provided the consumer with a host of options to choose from. They also offer flexibility in terms of payment, returning the goods and tracking the orders placed. New advancements and features have made the whole shopping experience more convenient. However, the industry also faces the threat of cybersecurity. Today the security of these websites is something the consumers look for before they choose to proceed.
This is particularly important because there has been a sharp increase in the number of cyber attacks and data thefts. E-Commerce Security deals with all those activities that are required to protect the E-commerce resources from possible cyber attacks and hackers. The system should be robust and efficient to prevent unauthorized access or modification as it contains the personal data of the consumers.
Threats can either be intentional or accidental. Most of the threats fall into the category of intentional threats such as phishing, data misuse, data theft, credit card frauds etc.
Inadequate Security – The E-commerce websites should give utmost importance to the security aspects as most consumers prefer websites that offer encryptions and one time passwords for the payment options. The secure websites are trustworthy and can guarantee data protection.
Pricing Manipulation – Manipulation of the prices is the other prominent threat these online businesses face. Though the processes are highly automated, pricing manipulation happens with the intention of stealing money.
Spam emails – This issue has been there for quite some time now with no proper solution in place. Spam messages are very difficult to spot even for the anti-spam software.
Hackers – Another major threat is that of the hackers trying to get there on our personal information and bank details. Even the secured systems are not fully fool-proof.
Encryption and having trusted third party with the required SSL compliance provides some protection against these malicious activities. Even the online trading websites face the issue of cybersecurity. These websites also comply with the highest levels of SSL requirements to provide a secure platform to its users. Bitcoin Trader is one such online cryptocurrency trading website that offers a safe way of dealing with the digital assets. It can be banked upon as a trusted source of income for all groups of people.