The Privacy and Security Issues with Respect to ECommerce - Essay Example

?Reflection on E-Commerce Original Paragraph: The Privacy and Security issues with respect to eCommerce may be identified as the most important and crucial issues to be tackled in the business environment. Security is the most important issue which concerns the safety of business transactions, and in that respect it is important to have a safe network of transactions. “At this point, people need to realize they are more under attack than not.” the president and CEO of Symantec said (Timson, 2009). As the technology is developing at a fast rate and we have more and more reliance on technology to perform our business tasks, it is imperative that the customers got aware of the possible cyber attacks facing them. Due to the rise in cyber attacks and more reliance on eCommerce, the confidence of customers online has been compromised. Quantium reported that Australia’s online sales fell at a diminishing rate, largely caused by ever increasing eCommerce frauds. For example, the growth of Australia’s online sales was 31% in 2010 with fraud rate at 0.6%. However, the online growth rate dropped to 22% in 2012 when fraud rate increased to 0.8% (Demery, 2013). Furthermore, according to CyberSouce (2012) 13th online fraud report, the total online revenue loss due to fraud was estimated at $3.4 billion in 2011. It can be seen that eCommerce fraud has a significant negative impact on online business and this is therefore a cause of concern. Moreover, McAfee as a security vendor, reported that 33% of Australian businesses were involved in a security incident in 2009, which meant a loss of an average $34.000 in revenue and $37.000 for fixing the bug (Timson, 2009). In order to avoid a large proportion of sales being lost due to fraud, Ausmart is in need of a well-developed and secured online network. New Paragraph In many business communities, most of the major transactions are performed online. Online business has become as important and maybe even more important than basic commerce done outside the channel of online arena. Banking transations are done by busy people online as they don’t have the time or the place to go to the banks and perform the transactions by themselves. Credit card purchases, shopping, ordering food, paying bills, performing business transaction, buying books and even paying college fees. People online are now doing all these transactions and therefore eCommerce’s importance has grown and risen significantly in the last 10 years. Owing to this phenomenon, it is imperative for the eCommerce industry to safeguard its business online and to make sure that hackers do not get access to the credit and debit card information of the users. Also, it is crucial that hackers do not block any event and all the transactions carried out online have a safety network, which makes them happen seamlessly. New data collated from about 2 million Australian credit and debit cards reveals the popular suburbs in which e-commerce fraud has been attempted, using internet-connected computers. E-commerce fraud involves a criminal using a stolen credit or debit card to buy goods online. Ecommerce crime is on the rise in Australia and the rest of the world and the hacker community has been very successful at targeting various business enterprises. Ausmart has been trying hard to develop a strong firewalled network and this has taken a significant energy and time from their pursuits. It must be noticed that they have been trying to cope with such threats for a long time and knowing that hackers have been targeting them hwihc has hampered their business negatively, focusing on E-Commerce and making the business as hacker free as they can is the number one priority right now. Reflections It can be seen from the above paragraphs that eCommerce is significant to the development of business and it is paramount to have a strong cyber security for all the business transactions in order to avid any kind of cyber attacks or malpractices by the hackers which in turn may jeopardize profit margins for the business community. As I made changes to the paragraphs, I got reminded to the feedback given to my by the tutor. The first and foremost thing, which my tutor told me, was to maintain a continuous flow of the language. There were quite a few issues with the way the sentences had been structured, and one of the major problems was that the sentences were reading something else instead of denoting the meaning I wanted them to translate into. These issues were resolved by having a coherent structure to the sentences, which were written by me. There was a significant use of statistics in the post written by me, and my tutor rightly advised to use simplest of the simplest words in order make the layman understand as to what I am trying to say with respect to the statistics. I used the right punctuation marks, which corrected the errors being shown in the earlier draft shared with my tutor. A very basic concept to get the messaging right in English is to focus more on the verb used along with adjectives. To have a seamless and sequential flow of messages, I was advised to correctly use the verbs in order to avoid any kind of issues, which might have made the sentences look out of picture. There was a lot of material, which could have been expanded upon. The idea was to have data but at the same time not overload the reader with the amount of data incorporated. In my second essay I focused more on explaining the reader about the concept, which was covered in my first essay, I tried to give a sound argument of the benefits of online transactions while at the same time I did try to make the reader aware of the issues which are related with it. Ausmart is battling hard to protect its cyber space and the threat to cyber space is one o the major issues which have to be overcome by the business communities in the coming few years. Since McAffee had reported significant negative impact upon the business activities, I first gave a statistical report to the reader, and in my second essay I tried to give a sound perspective as to with respect to how it has been hampering and affecting the growth of the business. Overall, my focus was consistently on the way forward with both the essays. I have incorporated all the feedback and have extended the explanation in areas where my tutor thought it was important. I have also given an objective understanding of the issue we have tried to address here, and with that respect I gave enough statistics backing them with sound and thorough evidence to make the reader realize the importance of the issue and how dramatically it is affecting our lives and the business worldwide. I did experimented with a few ideas here and there and with the overall speech delivery. I tried to incorporate a direct and passive speech delivery, which would keep the reader engaged throughout the time, he would be going through the document. I have made changes to the style of the delivery and have come across directly with the point at the first instance only, without beating around the bush. After having made the point, I then look back the evidence and how that has impacted the business, before giving out more reasons behind the current scheme of things being addressed in the essay. Reference: Curry, S. 2000, An Inside Look at E-Commerce Fraud: Prevention and Solutions, viewed 16 August 2013, CyberSource, 2012, 2012 Online Fraud Report, viewed 17 September 2013, Demery, P. 2013, Online fraud costs e-retailers $3.5 billion in 2012, Internet Retailer, viewed 17 September 2013, Quantium. 2013, Quantium Information Package. Viewed 16 Auguest 2013, Timson, L. 2009, Companies never safe from cybercrime: Symantec boss, Sydney Morning Herald, viewed 17 September 2013, Read More