Security Assessment of E-Business Transactions

Running head: SECURITY ASSESSMENT OF E-BUSINESS TRANSACTIONS
Security Assessment of E-Business Transactions
Name of the Student
Name of the University
Author’s note

1SECURITY ASSESSMENT OF E-BUSINESS TRANSACTIONS
Table of Contents
1. Introduction............................................................................................................................2
2. Discussion..............................................................................................................................3
2.1 The Objectives of E-business Security............................................................................3
2.2 Security Concerns related to E-Business Transactions....................................................3
2.3 Security Threats of E-Business........................................................................................8
3. Conclusion..............................................................................................................................9
4. Recommendations................................................................................................................10
5. References............................................................................................................................11

2SECURITY ASSESSMENT OF E-BUSINESS TRANSACTIONS
1. Introduction
E-business transactions, which is popularly known as E-commerce is defined as the
purchasing and selling of services or products over some form of electronic systems such as
the Internet (Laudon, 2013). It would generally be considered as the commercial function and
sales within the strategy of E-commerce. With the widespread spread of Internet, there has
been a huge level of increase within the increase of sales for businesses. A vast variety of the
transactions of e-commerce is mainly conducted on the internet platform. This would include
the management of supply chain, transfer of electronic funds, internet based marketing,
electronic data interchange (EDI), online processing of transactions and automated systems
the collection of data (Nicolaou, Ibrahim & Van Heck, 2013).
The high amount of increase within the uptake of e-commerce business model has led
to the intake of several associated threats related to security. Each of the e-commerce based
systems should meet for essential requirements related to the security of the transactions such
as integrity, privacy of information, authentication of the online form of transactions and non-
repudiation. Some of these basic requirements are essential for securing the online based
business transactions. The E-commerce service providers should also protect themselves
from several other kind of threats related to the security of the devices such as Denial of
Service (DoS) attacks (Niranjanamurthy & Chahar, 2013).
The perceived amount of lack within the security within the process of transaction and
communication within the online business model could be viewed as a major obstacle within
the uptake of the e-commerce model. The rapid form of advancements within the technology
of e-commerce has forced the business models to upgrade their pattern of implementation of
the security patches within their websites.

3SECURITY ASSESSMENT OF E-BUSINESS TRANSACTIONS
2. Discussion
2.1 The Objectives of E-business Security
There are innumerable ways in which a setup of e-business could be attacked by
different groups of hackers. Most of the common form of threats are viruses, Trojan horses,
hacking, masquerading, eavesdropping and many others. From the perspective of the strategy
of the business, it could be said that the Denial of Service (DoS) attacks would appear to be
as a serious form of threat to any model of e-business (Peltier, 2016). These kinds of DoS
attacks would primarily comprise of malicious acts that would be able to prevent various
access to different kinds of resources. Though the data would not be lost from the e-
commerce transactions, yet the incurred financial based losses would be of a much higher
value. In order to address these kind of issues, a well-planned strategy would be needed.
2.2 Security Concerns related to E-Business Transactions
Despite the several form of limitations and advantages based on E-Commerce
business model, there are some issues related to the security within the model. The security
concerning the use of e-commerce business model is mainly related to prevent the potential
loss and thus be able to protect the financial areas and unauthorized access of information.
Due to the fast developments within the inbuilt technologies, hence the risks involved within
the transactions are also increasing (Niranjanamurthy et al., 2013). Hence, there should be
proper measures in order to avoid the individual as well as organizational losses. In order to
secure the digital based transactions, two kinds of important methods of cryptography would
be needed to follow. These include:
Symmetric (Private-Key) Cryptography – This is such kind of system of
cryptography in which the receiver and the sender would possess the same key. This key
would be able to encrypt a particular message and the same key would be used to decrypt the