Issues about Security, Privacy and Legal Issues for E-Business

Electronic Business, commonly referred to as "e-Business", may be defined broadly as any business process that relies on an automated information system. Today, this is mostly done using Web-based technologies. Electronic business methods enable companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers. E-business has been benefitial to both companies and consumers alike. Business can now even reach more markets, provide new services and even enhance responsiveness. No doubt, it has revolutionized the current market. However with all this increased convenience, comes some rather disturbing issues though.

Ever since the introduction of the Internet, security has always been a debated issue. It was soon discovered that with the aid of the Internet, computers could be hacked into, and any information that was deemed to be private or confidential, could be accessed by anyone with the proper skills/tools. This was a worrying issue as high-security websites such as government and e-baking ones for example, could now be hacked into and vital information could end up in the hands of the wrong people. This deterred many from making online purchases, as there have been many reports of credit card fraud and online scams. However, it is also the responsibility of the consumer to take into account the credibility and reputability of the said company. The bigger and more well-known the business is, the higher its credibility. After all, no one is putting a gun to our head and forcing us to reveal our credit card information.

These days, all the bigger firms and government agencies are spending millions of dollars to make sure their networks are hack-proof and as secure as possible. E-business has now become a billion dollar industry, with a significant market share. Still, with this increased convenience, comes added risk.