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Top 3 e-Business Security Issues

written by: Daniel Brecht•edited by: Michele McDonough•updated: 11/23/2010

E-business plays an important role in the way companies work with clients and can help them expand their customers base; there are, however, secuirty issues (as explained in the article) that must be addressed to exploit fully its potentials

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    A Look at e-Business

    More and more enterprises today are choosing to use the Internet to do business online (e-business). It is popular for the simple fact that businesses and consumers have instant access to all e-business goods and services right from a PC.

    E-business is doing business on the Web. It entails the exchange of information online. E-business uses the Internet for business processes and to network externally with customers and business partners.

    E-business activities range from business-to-business (B2B) to business-to-consumer (B2C). Briefly said, B2B links between businesses, and B2C involves matters concerning consumer services.

    Doing e-business changes the way people conduct business. It has its pros and cons as well as security issues. In fact, the top 3 e-business security issues will be mentioned next.

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    Covering e-Business Security Issues

    There are a lot of e-business security concerns, but the top 3 e-business security issues that receive the most attention nowadays are privacy, trust, and security of transactions. Knowing about e-business security issues will likely help overcome them. Keep in mind, companies that have control over their e-business are likely to prosper most. In other words, setting up and maintaining a secure e-business is essential and important to business growth.

    Here is more information about each e-business issue.

    Privacy

    Privacy of data is one of the main concerns that customers have when approaching an e-business. The fear is that, once data such as name, address, and credit card information are sent through Internet channels to a company, it is possible for the data to be intercepted or disclosed. As noted in the Sunday Times edition, privacy concerns are a barrier to the development of e-business; this is why it is imperative for a business to regard the privacy need of customers as a priority. Online businesses need to have a privacy policy on their Web site explaining they will not disclose, sell, trade, or rent personal information to outside parties without explicit consent; however, they also need to put in place all the necessary technical defenses needed to gain customers' trust.

    Trust

    Trust is indeed a real concern in e-business. It is difficult to figure out who someone can trust online. Online businesses need to earn a reputation before a customer can feel safe in dealing with them; clients might feel that not having a physical location to visit in case of troubles is a problem. Therefore, the development of trust between businesses and consumers is seen as crucial to the expansion of e-business. Knowing your business partner and the exchange of information is safe can help overcome such an issue and establish a shared trust relationship. Trust is also built with advanced technical solutions. For example, to help build an e-business trust infrastructure, VeriSign offers the Trust Services platform suite.

    Security of transactions

    Since e-business transactions are carried out by the electronic exchange of information, there are risks of spoofing, hacking, and being eavesdropped on, so when buying and selling goods and services online, security is a big concern. These days, developing e-businesses are recognizing that encryption is needed for securing transactions. To overcome such a security issue, use Secure Sockets Layer (SSL) technology. VeriSign says SSL offers strong encryption and authentication of Web sites. Therefore, it can help to safely transmit information over the Internet. In addition to SSL, there are vendors (like VeriSign and Entrust) that have have services that provide end-to-end authentication and validation for transactions for both B2B and B2C activities.

    * Note: Even though doing e-business carries security issues, the benefits and potential of such a technology clearly outweighs the concerns and problems associated with it. Such issues has to be addressed or could stunt e-business growth (as explained by Computerworld). E-businesses will thrive only if security issues are solved.

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    Resource Section

    Sunday Times eEdition: http://sundaytimes.lk/030720/ft/5.htm

    VeriSign: http://www.verisign.com/ssl/ssl-information-center/how-ssl-security-works/

    Computerworld: http://www.computerworld.com/s/article/102769/Gartner_Security_concerns_to_stunt_e_commerce_growth

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    Reference Section

    University of Wisconsin-Whitewater: http://road.uww.edu/road/peltierj/Privacy/International%20differences%20in%20info%20privacy%20concerns.pdf

    International Journal of Electronic Business Management: http://140.114.53.122/IJEBM_Web/IJEBM_static/Paper-V7_N3/A01.pdf

    Canada Business: http://www.cbo-eco.ca/en/cbaw_session.cfm?s=e_business_01&play=1