This brings us back to the topic of web security and legitimate sources. Many a scammer has made money off of an individual who made a transaction through an unsecured website. Not only does the website have to look legitimate, but it should also have some sort of badge signifying that it has been tested for security. From personal experience, I realize that looking at the site is not always enough to know whether or not it is a safe place for monetary transactions. I purchased a plane ticket from a website and days later, my credit card was compromised. So from an online shopping perspective, purchasing from a reliable source is of utmost importance.
Another relevant point is online banking. As you can imagine, banks have some of the most secure websites around. And they have to, in order to keep their customers' money safe. If a hacker were to get into a bank's system, the damage could be irreversible and no one would trust online banking enough to use it. But thanks to online security, it has become a fast and efficient method of paying bills and managing finances in general.
Today's global businesses have access to the most sophisticated forms of communication-- all in one way or another related to the Internet. They use everything from virtual conferences to stock exchange news. As technology becomes more and more advanced, security breaches become a much more costly ordeal than what they were when the Internet was just beginning to develop. Companies are forced to invest increasing amounts of money into security measures, hoping that this will prevent damaging breaches from occurring.
Looking at companies in the UK, there has been a great increase in the number and severity of breaches from 2008 to 2010. In 2008, only 35% of companies reported having serious security breaches in their systems. But in 2010, this number exploded to 92% in large firms and 74% in smaller businesses. Money-wise, the most damage that was done in 2008 totaled to £170,000, compared with £690,000 in 2010. So not only is the number of security breaches on the rise, but so is the amount of damage that each one brings to its victim company.
Yes, it is obvious that the wired business community needs to be in touch with top security procedures, or else they are at risk of being hacked. But is any of this really so shocking? With the Internet developing at exponential speeds, it is not unlikely that firms will have to be quicker and quicker to stay on top of these alerts.
Source: Security Breaches
Another relevant point is online banking. As you can imagine, banks have some of the most secure websites around. And they have to, in order to keep their customers' money safe. If a hacker were to get into a bank's system, the damage could be irreversible and no one would trust online banking enough to use it. But thanks to online security, it has become a fast and efficient method of paying bills and managing finances in general.
Today's global businesses have access to the most sophisticated forms of communication-- all in one way or another related to the Internet. They use everything from virtual conferences to stock exchange news. As technology becomes more and more advanced, security breaches become a much more costly ordeal than what they were when the Internet was just beginning to develop. Companies are forced to invest increasing amounts of money into security measures, hoping that this will prevent damaging breaches from occurring.
Looking at companies in the UK, there has been a great increase in the number and severity of breaches from 2008 to 2010. In 2008, only 35% of companies reported having serious security breaches in their systems. But in 2010, this number exploded to 92% in large firms and 74% in smaller businesses. Money-wise, the most damage that was done in 2008 totaled to £170,000, compared with £690,000 in 2010. So not only is the number of security breaches on the rise, but so is the amount of damage that each one brings to its victim company.
Yes, it is obvious that the wired business community needs to be in touch with top security procedures, or else they are at risk of being hacked. But is any of this really so shocking? With the Internet developing at exponential speeds, it is not unlikely that firms will have to be quicker and quicker to stay on top of these alerts.
Source: Security Breaches
I definitely agree with how important online commerce is becoming to the world's business today, and how securing that business is becoming both more difficult and more vital as companies use the web increasingly.
ReplyDeleteI remember I heard a couple of web security experts on the radio a while ago talking about online banking. The host asked them if they used online banking themselves (keep in mind they pretty much pioneered the security for bank websites). The first guys response: "no." He said that there was simply no way to completely secure the transactions, and as such, he did his banking the old fashioned way. The other guy said yes, but only because he knew the banks would reimburse him if something went wrong, not because he believed it was 100% safe.
Taking what those security experts said, I believe that it is a serious challenge to protect this digital commerce. There are going to be hackers and thieves constantly trying to break through security. I personally wonder if there will be a point where so much money is being stolen that it negates the benefits of the convenience of online commerce.