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Two of the most important assets of an e-commerce organization are its integrity and reputation. Once its integrity is compromised, the organization loses its reputation and its business suffers as a major consequence. Creating a secure system to protect the company and its customer information is the first step towards safeguarding these two valuable assets. In this assignment, I will identify the importance of e-commerce security programs, discuss some the key components of effective e-commerce security programs, and determine priorities to develop short and long term goals with respect to implementing a successful e-commerce security program.
Importance of E-Commerce Security Systems
E-commerce makes conducting business transactions as easy as a click of a button. Unfortunately, with this ease also comes much vulnerability. Cybercriminals are posing ever-increasing threats on the security of company and consumer information. They are on the prowl to steal credit card information, interrupt business operations, damage brands, and even steal personal identities. According to Amitai Etzioni, cyberspace crimes can impose considerable financial repercussions to organizations that support e-commerce (Etzioni, 2011). The cost to respond and mitigate against the attacks cost each of e-commerce organizations on average about US$850,000 (Hammond, 2010). It is critical that e-commerce organizations secure themselves and the data of their customers by using robust solutions to stay ahead of the criminal mind. It is not only good practice but due diligence which is mandated by our government (Etzioni, 2011).
Key Components of E-Commerce Security Systems
Securing key components designed for e-commerce is critical for sustaining business success. Exploiting vulnerabilities of key components is best ways to infiltrate the power...