eCommerce has forever revolutionized the way business is done. Retail has now a long way from the days of physical transactions that were time consuming and prone to errors.
However, eCommerce has unavoidably invited its share of trouble makers. As much as eCommerce simplifies transactions, it is occasionally plagued by serious concerns that jeopardize its security as a medium of exchanging money and information.
Major threats to present day eCommerce include
Breach of Security:
eCommerce services are about transactions, and transactions are very largely driven by money. This attracts hackers, crackers and everyone with the knowledge of exploiting loopholes in a system. Once a kink in the armor is discovered, they feed the system(and users) with numerous bits of dubious information to extract confidential data(phishing). This is particularly dangerous as the data extracted may be that of credit card numbers, security passwords, transaction details etc.