eCommerce has forever revolutionized the way business is done. Retail has now a long way from the days of physical transactions that were time consuming and prone to errors.
However, eCommerce has unavoidably invited its share of trouble makers. As much as eCommerce simplifies transactions, it is occasionally plagued by serious concerns that jeopardize its security as a medium of exchanging money and information.
Major threats to present day eCommerce include
Breach of Security:
eCommerce services are about transactions, and transactions are very largely driven by money. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. Once a kink in the armor is discovered, they feed the system(and users) with numerous bits of dubious information to extract confidential data(phishing). This is particularly dangerous as the data extracted may be that of credit card numbers, security passwords, transaction details etc.
Also, Payment gateways are vulnerable to interception by unethical users. Cleverly crafted strategies can sift a part or the entire amount being transferred from the user to the online vendor.
Hackers often gain access to sensitive information like user accounts, user details, addresses, confidential personal information etc. It is a significant threat in view of the privileges one can avail with a false identity.
For instance, one can effortlessly login to an online shopping mart under a stolen identity and make purchases worth thousands of dollars. He/she can then have the order delivered to an address other than the one listed on the records. One can easily see how those orders could be received by the impostor without arousing suspicion. While the fraudsters gains, the original account holder continues to pay the price until the offender is nabbed.
Threats to the system
Viruses, worms, Trojans are very deceptive methods of stealing information....
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