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Potential Risks and Frauds in E-Business

Question:

Discuss about the Integrating Management of Customer Value.

Online transactions are susceptible to many risks. The meaning of risk is the vision of any misfortune or loss that can occur in e-business. The risk may lead to loss of financial, goodwill and mental wealth of company. The following report is going to analyse about the various potential risk and fraud which has to be faced by Marky G’s during online business. It also analysing about the various possible solution to mitigate the risk and frauds of e-business (Cavusgil, et al., 2014). The second part of the report analyses about the legal and ethical issues which Marky G’s is facing in the market. And it also analyses the various possible solution to remove these issues in e-business of Marky G’s.

The biggest threat faced by e-commerce companies are insecurity of financial transaction and loss of privacy of customers. Privacy has become the more serious concern for the company as well as government. According to the report by U.S major issues are faced due to credit and debit card transactions. In this, the user's information is leaked while transaction (Grant, et al., 2014).

In any e-commerce company, the issues like data integrity, client and customer verification and non-revocation are problems to the achievement of any online business. Data integrity is the affirmation that information transmitted is reliable and accurate meaning that it has not been altered or adjusted at all amid transmission (Ruch & Sackmann, 2012). The risk of transmission of sensitive data is also increased when customers complete the online transaction.

Network issues: All networks possess own security concerns primarily due to the reason that maximum networks are reliant on further private networks which are possessed and administered by the third party and on a public-shared structure where the company has lesser control and knowledge about the applied security actions (Zhang, et al., 2012). One of the greatest worrying safety issues faced by e-business is at times when a hacker introduces a denial of service attack. This attack is considered by an explicit effort by hackers to stop users from using an e-business structure.

Technical attacks: Technical attacks are the crucial challenges which e-commerce companies are facing regularly main issues in technical attacks are:

Denial of service attacks: These attacks comprise of crushing a server, a network or a website in the request to paralyze its ordinary movement (Liu, Cao & He,  2011). Safeguarding against DoS assaults is a standout amongst the most difficult security issues on the Internet today. A noteworthy trouble in obstructing this attack is to follow the wellspring of the assault, as they regularly utilize wrong or spoofed IP source delivers to mask the genuine starting point of the attack.

Legal and Ethical Issues

Brute force attack: A brute drive attack is a technique for crushing a cryptographic plan by attempting a substantial number of potential outcomes; for instance, an immense number of the conceivable keys in a space keeping in mind the end goal to decrypt a message. Brute Force Attacks, although saw to be low-tech in nature are not an artefact of days gone by. In May 2007 the web foundation in Estonia was disabled by numerous managed animal power attacks against government and business organizations in the nation.

Security holes are present in all new and present software systems primarily because of software bugs due to carelessness and on the other hand, not the very talented security-centred developer or programming designers. A software bug could be just a mix-up or oversight in a PC program or site coding that influences the site or program to act in a unintended way that could extend from a minor issue like incorrect rendering or designing of the data on the screen to a noteworthy issue like enabling unauthorized clients to get to vital information on the servers (Turban, et al., 2015). And moreover, network and communication rules and regulations are continuously changing creating difficulty for security advisors.

On top of these, network and communication standards and protocols are in a state of continuous changes which makes keeping up-to-date with all security advisories and security patches a difficult task (Highsmith, 2013). Likewise, programmers can utilize viruses and different noxious programming to hack e-business frameworks and have the capacity to take clients' data, steal information misfortune, or make e-business frameworks out of reach.

Numerous consumers use wireless Internet networks and mobile devices to access e-business structures. Wi-Fi networks and mobile devices show a security threat since external users can snoop on wireless infrastructures (Sood, 2012). Safeguarding a wireless network with the help of password lock creates more difficulty for external users to associate to a network and use sensitive information, still a wireless connection is not secured as a wired network most vulnerable threat is information leakage of users through the implications done by a hacker camouflaged in the mobile system. The hacker issues various queries in the database server with the objective of inferring parts of customer’s buying pattern and history (Dinh, et al., 2013).

Selecting and adopting a protected e-commerce platform is the first stage in safeguarding the website of the company from cyber-attacks. E-commerce stage is the main base for companies’ online store. The Marky G’s should consider the use of refined object-oriented programming or language enhancing the internal network and management panel. This creates hackers inaccessibility of using company data and information. The integration to third-party safety provisions and updating latest version secures company website from hackers (Galliers & Leidner, 2014).

Technical Attacks and Security Holes

The hosting provider impacts on the safety and security of business to a big extent. So the Marky G’s should not go for a host which is not precisely providing to all the requirements of the business website because the website is generally used for commercial purpose only. To guarantee the safety of e-business, Marky G’s should ensure dedicated host provider for business use. The main features web hosting company should offer are an immediate recovery in case of disaster, 24 hours assistance, and observation of project, AES encryption and much more to create a safety shield around business from cyber-attacks (Niranjanamurthy, et al., 2013).

The Marky G’s should use HTTPS encryption instead of HTTP encryption. And it should get a strong SSL authentication in order to create more safety of e-business. The SSL not only protects data and sensitive information but also verifies the characteristics of the business. By using this online buyer can rely on company website about the entered information. The company should go for EV SSL certification which provides a positive signal for website safety against hackers. EV SSL has done this through by adding a green HTTPs prefix and symbol on the web page.

There would be no risk of digital attack if the Marky G’s doesn't have any delicate data put away on your web-based business web page. Keeping in mind and evaluating if abstaining users financial information can save the clients data, at that point do as such. As indicated by the PCI Security Council, it is never a smart thought to store any kind of delicate data like MasterCard or check card subtle elements on own server (Gloor, 2012). It is prescribed to store an insignificant measure of information that would be sufficient for discounts or charge-backs on your online business website to shield it from digital assaults. And if the company website doesn’t have anything to offer, the digital hackers could never care to loot a company.

For a web-based business companies like Marky G’s supporting payments through cards or online exchanges, it is imperative to conform to every one of the controls given out by the PCI Security Standards Council to keep any kind of digital attack. The Marky G’s in advance should perform out all the security checks that are being asked by the Payment Card Industry to become a member of PCI compliant. Not adhering to the directions may leave the sensitive record and card data of online clients vulnerable to the attacks by digital offenders and programmers. Additionally, it may occur need to pay immense fines for not complying with the same (Ferrer, et al., 2012). The PCI hazard evaluations ought to be performed timely according to a number of exchanges occurring on online business web page every year.

Selecting a Secured E-Commerce Platform

The Marky G’s should develop a powerful security barrier which cannot be broken by the virtual attackers.  This wall should be made strong and concrete in order to protect the security of e-commerce website. The first layer which should be used is the firewall. And in order to add the extra layer, the company can put various applications, contact information details, login checkboxes, CVV2 box and much more. This all additional layer protects the e-business from various application attacks like cross-site scripting and SQL injections.

E-business like Marky G’s infers information about how users use a website through log files. The analysing a log file means the decoding of log data into the presentation or applying software which pools the significant information from different files in-house. The Marky G’s can track individual deviation from hacking software and cookie analysis. Moreover, programmes like cookies create a batch of privacy concern (Camarinha-Matos, Afsarmanesh & Rabelo, 2013). The tracking history is saved by computer and any time a customer re-visits the page the information is retrieved. It is leaking personal information of customers to public creating ethical issues for the company.

The online piracy can be defined as unauthorized copyright of electronically protected property, for example, eBooks, music or recordings. This untrustworthy action happens when the Internet clients utilize the product and equipment known in an illegal way to exchange the electronic licensed property over the Internet. For instance, some online applications like www.napster.com have empowered huge scale misuse of music tests and sound arrangements. According to Salman, Saad & Ali, (2013) programming that is accessible for nothing of cost on the Internet permits the exchange of music and recordings without the approval of rights holders. Additionally, CD copiers and convenient MP3 players permit copyright infringement to happen rather effectively.

Cyber-squatting is an action in which a man or company can enrol, buy and uses the current space name, having a place with the famous association, with the end goal of infringing its trademarks. This sort of individual or firm, called digital squatters more often steals the trademarks to coerce the payment from original trademark's proprietor. The coercion of payment happens when they offer the costs which are far more remarkable than what they have paid to buy the company’s space name. Certain digital squatters set up deprecatory comments about the individual or organization which the domain is intended to speak to, with an end goal to urge the business to re-purchase their domain from them.

Avoiding Online Piracy

E-mail spamming: It is also known as UCE (unsolicited commercial e-mail) which uses e-mails to direct or transmit unwanted promotion and correspondence on the internet. The person who spams their email is typically called spammer. Numerous spammers communicate their email with the end goal of attempting to get individuals' money related data, for instance, Visa or record bank numbers so as to swindle them. The case of extortion utilizing email is spammers will trap customers to enter their own data on counterfeit site utilizing email, produced to seem as though it is from the approved association, for example, bank. The substance of email frequently guides the purchasers to the fake site so as to trap them to fill their own data, for example, credit card or financial balance's details. This procedure is called phishing.

E-commerce scam exploded out with the quick surge in the reputation of websites. The cheats are active mostly in the part of stocks. The minor depositors are attracted by the assurance of incorrect incomes by the stock agents. Auctions are also prone to fraud equally by suppliers and consumers. The accessibility of electronic mail and pop up commercials has cemented the path for monetary offenders to have the entrance of all people. Other zones of the potential scam include spectre business chances and false reserves.

Copyright: The copyright laws ensure Intellectual property in its different structures, and can't be utilized unreservedly. It is exceptionally hard to secure Intellectual property in E-commerce. For instance, in the event, that of purchase programming company has the privilege to utilize it and not the privilege to appropriate it. The circulation rights are with the copyright holder (Iqbal, Khan & Naseer, 2013). And moreover duplicating substance from the website disregards copyright laws.

The rivalry over domain names is another legitimate issue. Web addresses are known as space names and they show up in levels. The finest level name is qburst.com or microsoft.com. Another level name will be qburst.com/blog. Top level space names are allotted by a focal non-benefit association which generally checks for clashes or believable infringement of trademarks. Issues emerge when a few organizations having comparative names contending over a similar domain name (Fleenor & Raven, 2011). The issue of domain names was lightened to some degree in 2001 after a few upper-level names were added to com.

Poor service: Online dealers can dispatch harmed or fake merchandise to clients, or neglect to deliver any products whatsoever. They may decline returns or may fail to offer credit to the client who in accordance with good faith restores the goods (Malhotra, 2014). They may neglect to ensure products in shipment and decline to assume any liability when the merchandise is harmed. Insensitivity is another regular concern in the online business world. Websites offer client helpline yet never answer it or distract the client to the wrong number. The skill to mount and bring down sites inside minutes enables unscrupulous individuals to acknowledge requests, cash and then disappearing, just to pop up later with similar merchandise under an alternate business name and site.

The best way to solve the piracy issue in Marky G’s is to include considerably more obstacles, anybody submitting content for copyright security should likewise pay a charge. Be that as it may, enough to influence the supplier to consider it. Along these lines, if Marky G’s is not dismissive about securing their substance they'll pay for the insurance (Bélanger & Crossler, 2011). Whatever expenses are gathered will go towards not just subsidizing this archive but also towards enforcement.

In the case that Marky G’s enlisted somebody to outline website, the domain name could likely be enrolled under that individual's name. Ensure it is enrolled for the sake of senior administration or the organization itself. Have no less than two names on the enrollment with the goal that when there are changes the two gatherings are told. Additionally, don't give Marky G’s domain a chance to lapse directly in front of company. Domain enlistment centers are revenue driven organizations; they are essentially recorded, attendants. In this way, when a domain name terminates from an employee they will keep it for themselves in the event that they believe that it is significant. Then Marky G might be compelled to purchase back in company’s name (Guo, 2015).

To resolve web tracking issues in Marky G, the company should use various tools to avoid the tracking of data and information from the company website. The tools which are prevalent in the market for stopping web tracking are Add-ons that block trackers, privacy badgers, Adblock plus and much more. These all tools are brilliant in safeguarding the information of company website to be attacked by the hackers (Baporikar, 2014).

E-mail spamming: An approach to secure email protection is to utilize Thunderbird with Enigmail; Mac Mail with GPGTools; Outlook with GPG4Win. These tools enable Marky G’s to scramble a present email address and offer a suite of security upgrades to guarantee that information is being ensured. There are various email suppliers that have a model for giving choice security to free or for an ostensible expense. The accompanying apparatuses give a safe VPN to all web perusing, a USB-key essential email passage, and free email assurance for Marky G email address (Zaidan, et al., 2011).

Fraud on the internet: Utilize an address and card confirmation framework. "Empower an address confirmation framework (AVS) and require the card verification value (CVV) for MasterCard exchanges to decrease fake charges. Moreover, the requirement of solid passwords can resolve the issue (Mahdi & Rezaul, 2012). While it is the obligation of the retailer to guard client data toward the back, Marky G’s can enable clients to help themselves by requiring a base number of characters and the utilization of images or numbers.

Copyright: This issue can be resolved by filling the copyright in the government department. If the company owns proper copyright or intellectual property rights then it can stop other counterfeit companies. This can be implemented by Marky G’s registering the copyright and trademark as soon as it creates with proper government authority and without delaying it. An issue mainly happens in case Marky G’s does not register it on time, so this issue can be solved by timely and actively registering the copyright with the appropriate authority (Purohit, Jaiswal & Pandey, 2012). 

Domain names: Marky G’s should make sure that domain is using correct servers name. And if Marky G’s has currently switched to other domain then it should point towards correct name servers where the company website is hosted. The company should give time to DNS servers to propagate the changes as they take 1-2 days in implementing changes.

Poor service: The cost of operation and delays should be reduced with proper returns administration with unbroken communication stage with logistic associates and sellers by Marky G’s. With appropriate ticketing arrangements and simple to utilize interfaces by Marky G’s, workers can take into account each client ticket produced at any channel. The productivity rises with prioritization measures assigning out the level of significance to each ticket, ensuring high need tickets are taken care of on priority.

Conclusion

The above report analysed about the various risk that e-business is exposed to while doing business in online. The common fraud risk which can be faced by Marky G’s are brute force attack, security awareness, network issues and many more. The report also analysed about the various possible solution to mitigate these issues like getting SSL certification, becoming a PCI client and many more. The other part of report defined the legal and ethical issues which are to be faced by Marky’ G’s while dealing online. The issues like web tracking, piracy, poor service, domain issues and many more are too obvious to be faced. And the solutions to these issues are solving every problem accordingly.

References

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