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Cyber fraud a threat to E commerce

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Cyber fraud a threat to E commerce

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Cyber fraud a threat to E commerce

  1. 1. To establish the extent of internet fraud and its operational impact on ecommerce. The effectiveness of current fraud prevention systems. Finally to identify common features in the way internet fraudsters operate.
  2. 2. The effect of cyber fraud on e commerce: examining various aspects involved.
  3. 3.  1. Introduction  2. Ecommerce and its relation to cyber fraud.  3. Various aspects of ecommerce.  4. Technical issues involved.  5. Legal issues: substantive and procedural.  6. Conclusion and suggestions
  4. 4. The major issues tackled with in this paper are as follows:  1. How ecommerce is affected by cyber fraud.  2. Adequacy of regulations in the national and international level.  3. Technical measures.  4. Mechanisms and laws to check cyber fraud
  5. 5. Confidentiality Authentication Integrity
  6. 6.  Financial accounting : From manual to computerized  Information system: From paper based to digital  Advertising : Offline to online  Corporate purchasing : Manual to E- procurement
  7. 7.  A network of Networks.  Hardware and Software.  Building E-Commerce enabled website.  Client-Server Computing.  Hosting site on Web Server.  Finding provider for electronic funds transfer
  8. 8.  Credit card  Debit card  E-cheques  E-wallets
  9. 9.  Crime committed using a computer and the internet to steal a person's identity or illegal imports or malicious programs.  Cybercrime is nothing but where the computer is used as an object or subject of crime.  Online activities are just as vulnerable to crime and can compromise personal safety just as effectively as common everyday crimes.  Lawmakers, law enforcement, and individuals need to know how to protect themselves and the persons for which they are responsible.
  10. 10. We can categorize Cyber crime in two ways :  The Computer as a Target :- using a computer to attack other computers. e.g. Hacking, Virus/Worm attacks, DOS attack etc.  The computer as a weapon :- using a computer to commit real world crimes. e.g. Cyber Terrorism, IPR violations, Credit card frauds, EFT frauds, Pornography. Cyber Crime regulated by Cyber Laws or Internet Laws.
  11. 11.  Hacking  Software Piracy  Denial Of Service Attack  Virus Dissemination  Computer Vandalism  Cyber terrorism
  12. 12. Types of Cyber attacks, by percentage (source- FBI,2007)  Financial fraud: 11%  Sabotage of data/networks: 17%  Theft of proprietary information: 20%  System penetration from the outside: 25%  Denial of service: 27%  Unauthorized access by insiders: 71%  Employee abuse of internet privileges 79%  Viruses: 85%
  13. 13.  Manipulate data integrity 6.8%  Installed a sniffer 6.6%  Stole password files 5.6%  Proving/scanning systems 14.6%  Trojan logons 5.8%  IP spoofing 4.8%  Introduced virus 10.6%  Denied use of services 6.3%
  14. 14.  Downloaded data 8.1%  Compromised trade secrets 9.8%  Stole/diverted money 0.3%  Compromised e-mail/documents 12.6%  Publicized intrusion 0.5%  Harassed personnel 4.5%  Other 3.0%
  15. 15. User community Network Administration Introducers/Hackers MVS mainframe users (5%) UNIX users (25%) Desktop users (50%)
  16. 16. Electronic mail can be intercepted and read Customer’s credit card numbers may be read
  17. 17.  Customers risks : Stolen credentials or password Dishonest merchant  Merchants risk : Forged or copied instruments Insufficient funds in customers account
  18. 18.  Authorization , Access Control: protect intranet from hoarders: Firewalls  Confidentiality , Data Integrity: message must not be altered or tampered with :  Encryption  Authentication: both parties prove identity before starting transaction: Digital Certificates  Non-repudiation: proof that the document originated by you and you only: Digital signature
  19. 19.  The cyber security will defend us from critical attacks.  Internet security process all the incoming and outgoing data on our computer.  Cyber security will defend from hacks and virus.
  20. 20.  Held orders  In-house database  Shared database/Chain calls  Telephone database  Issuing Bank  Call the customer
  21. 21.  Implementation of existing laws in a stricter manner.  Changes in the:1. Information Technology Act, 2000, Amendment 2008 should be strictly adhered to. 2. Indian Penal Code, 1908 should be in amended, stricter punishment should be imposed on violators. 3. The newly added sections of the Indian Evidence Act should be considered while giving judgments on cyber fraud
  22. 22.  The police officers, judges lawyers and the persons associated with legal profession should be sensitized on the matter.  The general public, companies and corporate houses should be made aware of the damages cyber fraud can cause  Advertisements in all forms of media is an effective tool for creating awareness.  High fines should be imposed which should be deterrent in nature.

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