Essay: Protecting a Firm in the Virtual World
Though the internet technology has it weaknesses, many organizations are not aware of the risks the eCommerce poses to them. They lack to recognize that the technological advancement of the eCommerce comes along with increased risk to cybercrime. Many organizations needs recognize that protecting a firm in the virtual world is more complicated than offering security in the physical world.
Employees or associates may perpetuate the cybercrimes after employing computer-based technology and penetrate into a firm’s database from which they alter the database to attain their objective and can eventually share the information to interested parties. The hackers are motivated by greed, vengeance or malice. Through the computer technology, the firm’s integrated network security may be altered by bringing in a virus like the trajonising the network. In such a situation, when the computers of a firm are hacked, the hacker can access the data of a firm without the host knowing and control the system. This is too risky for the eCommerce like in the situation where the hackers can access the accounts of the clients or of a firm and divert the funds in their respective accounts. A good example is where “
Recently, Internet Trading Technologies Corporation in New York suffered hacking activity…by an employee. The disruption to [its] business lasted for three days and had the potential of affecting a large percentage of Nasdaq trades conducted by the company. Fortunately, the employee did not employ a sophisticated attack and was traced. He was charged with sending data to intentionally cause damage to a computer, punishable by five years in jail” (new strategies for managing the risks of exploitation, online)